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Insurance

Collateral

Life insurance policy loans are a common financing option, where the policy acts as collateral. If the borrower defaults, the lender can only recover the amount equivalent to their interest. This temporary assignment is a safety measure for creditors to protect their investment. It is important to understand this concept when considering life insurance policy loans to make informed financial decisions.

Contractual liability

As an expert in finance, it is crucial to understand the concept of liability in contractual agreements. These agreements outline the responsibility of specific parties to b...

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Floater policy

In the world of finance, we often come across terms that may seem daunting at first glance. One such term is "inland marine insurance policy". This type of insurance pertain...

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Ocean marine insurance

In the realm of finance, it is crucial to understand the concept of coverage for all types of vessels and watercraft. This includes protection against property damage to the...

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Professional liability

Professional liability is a legal term used to describe the responsibility that a professional person holds for any mistakes made while carrying out their duties. This can i...

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