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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.

Catastrophe model

In the world of finance, there exists a powerful tool that utilizes technology to predict the potential financial impact of natural disasters and other catastrophic events ...

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Fixed-period option

A death benefit is a payment made in regular, equal instalments over a predetermined period of time. This payment is typically given to the designated beneficiaries of a dec...

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Book of business

Insurance companies must have a substantial amount of capital to cover potential claims from policyholders. This is known as the insurer's book value or total amount of insu...

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Purpose

A fundamental concept in the world of finance is the purpose or goal behind obtaining a life insurance policy. This objective can vary from person to person, with some seeki...

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