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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.

Pre-existing condition

A pre-existing condition refers to a health issue that is present before the start of a health insurance policy. This can include any illness, injury or condition that has b...

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Mortality Rate

Mortality rate refers to the number of deaths within a specific group of individuals, typically measured as the number of deaths per one thousand people. This rate is an imp...

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Reinsurance

Reinsurance is a risk management strategy where a primary insurer transfers risk to a reinsurer. This allows the primary insurer, also known as the ceding company, to protec...

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Unfunded retention

One concept in finance that is important to understand is the idea of absorbing losses. This means that instead of planning ahead to cover any potential losses, they are dea...

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