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Insurance

Combined ratio

Let's explore the concept of combined ratio, a fundamental metric in the world of finance and insurance. Essentially, it measures the percentage of each premium rupee that a property/casualty insurer spends on claims and expenses. A decrease in this ratio indicates an improvement in financial results, while an increase suggests a decline. It is worth noting that a combined ratio of over 100 signifies an underwriting loss for the insurer. Understanding this ratio is crucial for assessing an insurer's overall performance and financial health.

Risk manager

A key role in finance is that of a risk manager. This individual is responsible for safeguarding a company from potential losses and ensuring that its goals are not derailed...

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Temporary life annuity

An annuity is a financial product that provides a fixed stream of payments, typically for retirement purposes. It can be structured to pay out benefits for a specific number...

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Contingent Beneficiary

In finance, we often come across the term "secondary beneficiary" or "tertiary beneficiary". These are individuals who are designated to receive the proceeds of a financial ...

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Earned premium

As a wise professor of finance, let me introduce you to the concept of "unearned premium". This refers to the portion of an insurance premium that applies to the expired par...

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