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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.

Void

A policy contract may be rendered null and void if certain conditions specified within the contract are not met. For instance, if a policyholder provides false information, ...

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Consequential damage endorsement

Businesses often purchase insurance coverage to protect against potential losses. This coverage may include protection for losses that occur due to the failure of an insured...

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General average clause

In the world of finance, we often come across terms that may seem confusing or unfamiliar. One such term is the "general average clause" in ocean marine insurance. This clau...

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Theft

Stealing is a severe offense that refers to the illegal taking of someone else's property without their permission. It is considered a form of theft and can include a wide r...

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