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Insurance

Arson

in order to collect insurance money is known as arson, and is considered a criminal act. The amount of insurance fraud related to arson has been estimated to be in the billions.

Arson, the intentional act of setting fire for financial gain, is a serious criminal offense. This fraudulent practice is prevalent in the insurance industry, estimated to cost billions of dollars. As a responsible financial professional, it is crucial to understand the legal and ethical implications of arson and its impact on the financial market. Let us delve deeper into this topic to gain a comprehensive understanding.

Re-entry Option

In a renewable term life policy, there is an option that allows the policy owner to renew their coverage at the end of the term without having to provide evidence of insurab...

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Incurred but not reported losses (IBNR)

A knowledgeable professor of finance must be well-versed in the concept of "incurred but not reported" (IBNR) losses, which refers to claims that are not reported to the i...

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Adverse selection

One concept in finance that is often overlooked is the phenomenon of adverse selection. This refers to the inclination of individuals who face higher risks to seek out more ...

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Personal articles floater

A valuable asset protection plan, often referred to as a rider, is a strategic addition to an insurance policy that provides coverage for personal belongings, such as precio...

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