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Insurance

Automatic coverage

In the world of insurance, an insurer will often agree to provide coverage for accidents caused by any machinery that falls under the same category as the one specifically mentioned in the endorsement. This means that if a particular type of machinery is listed in the endorsement, any accidents caused by similar types of machinery will also be covered. This is a crucial aspect to understand when dealing with insurance policies in the context of finance.

Loss adjustment expenses

Insurance companies must account for the expenses incurred in investigating and resolving insurance claims, which also includes the costs of defending a lawsuit in court. Th...

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Disability income insurance

Disability insurance offers financial assistance in the form of regular payments to individuals who are unable to work due to an illness or injury. This type of insurance en...

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Last clear chance rule

When discussing contributory negligence, it is important to understand that the plaintiff's own negligence does not necessarily bar them from seeking legal action against th...

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Insurable value

When discussing business income coverage, it's important to understand the concept of net income. This is the amount that remains after subtracting variable costs and expens...

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