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Insurance

Business interruption insurance

As a business owner, you may have heard of the term "business interruption insurance". This type of coverage provides reimbursement for lost profits and fixed expenses during the time your business is closed for restoration due to physical damage from a covered peril, such as a fire. Additionally, this insurance may also cover financial losses if civil authorities restrict access to your business premises after a disaster, preventing customers from reaching you. Keep in mind, the coverage may have a waiting period and can last for several weeks or longer, depending on your policy.

Expediting expenses

When an insurer agrees to cover the cost of expediting the repair of machinery, they are agreeing to cover any reasonable additional expenses. This can include costs for ove...

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Expected loss ratio

As we delve into the world of finance, one concept that holds a significant place is the Loss Ratio. This is the measure of losses incurred in relation to premiums earned, a...

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Bonus

The bonus, also known as the policyholder's dividend, is an additional sum that is received during the term of an insurance plan or at its maturity. This is only granted if ...

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Guaranteed Addition

Guaranteed additions, a key concept in finance, are calculated by multiplying a predetermined rate with the sum assured. These additions are then added to the basic sum assu...

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