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Insurance

Assignee

In case of death of the assignee, the benefits are transferred to the assignor. In the realm of finance, the assignee is the individual who receives the title, rights, and benefits associated with a life policy. It's important to understand that upon the unfortunate passing of the assignee, these benefits are then transferred back to the assignor. This concept is crucial to grasp in order to fully comprehend the dynamics of life insurance policies.

Probate

Probate is a legal procedure that occurs upon the passing of an individual, in which their assets are distributed and the instructions outlined in their will are executed. ...

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Retention

The concept of "retained risk" refers to the level of risk that an insurance company is willing to take on without seeking protection through reinsurance. In other words, it...

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Professional liability insurance

Professional liability insurance provides coverage for professionals in case of negligence, errors, or omissions that result in harm to their clients. This type of insurance...

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Appraisal

As a professor of finance, it is crucial for you to understand the concept of insurable value. This refers to the amount of loss that can be covered by insurance for a prope...

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