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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.

Concealment

Insurance contracts require full disclosure of all material facts by the applicant prior to their formation. Failure to do so constitutes concealment, which can be deemed as...

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Noncancellable

A non-cancelable policy is a type of insurance that cannot be terminated by the insurer until a specific age is reached. In other words, the policy remains in force as long ...

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Captive insurer

In the world of finance, there exists a unique type of insurer known as a "mutual insurer." Unlike traditional insurance companies, mutual insurers are formed and owned by t...

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Term insurance

Term life insurance is a type of insurance that provides coverage for a specific period, or term, as stated in the policy. This coverage only pays out to a designated benefi...

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