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Insurance

Businessowners policy

As a professor of finance, I want to introduce you to a key term in the insurance industry: the Business Owners Policy (BOP). This type of policy combines three important coverages – property, liability, and business interruption – into one affordable package for small to medium sized businesses. By bundling these coverages, businesses can save money compared to purchasing separate insurance policies. Let's dive into the details of this important concept.

Affirmative warranty

A vital aspect of the insurance industry is the agency agreement, which is a contract between an insurance company and an agent. This agreement empowers the agent to sell in...

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Asymmetric information

One important concept in the world of finance is an insured's knowledge of potential losses, which is not accessible to insurance companies. This understanding plays a cruci...

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Peril

Insurance policies can be categorized as either named-peril or all-risk. A named-peril policy provides coverage for specific risks, such as fire, windstorm, flood, or theft....

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Loss of use

Homeowners and renters insurance policies often include a valuable provision that covers the costs of temporary living arrangements in the event of a disaster. This means tha...

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