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Insurance

Compulsory auto insurance

In the world of finance, there exists a minimum threshold for auto liability insurance that is mandated by law. This coverage protects individuals from financial losses in case of an accident. It is crucial to understand this requirement and ensure that it is met to safeguard our financial well-being. So, let us delve into the details of this essential aspect of finance.

Economic loss

In the world of finance, we often come across the term "financial loss." This refers to the overall loss incurred due to the death or disability of a wage earner, or the des...

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Constructive total loss

A common term used in the world of finance is "economic loss." This refers to a situation where property has not been completely destroyed, but the cost of restoring it exce...

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Internet insurer

An online-only insurer is a company that operates solely through the Internet, without the use of traditional brick-and-mortar stores or agents. This business model allows f...

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Outstanding balance on loans

A crucial financial concept to understand is the loan balance, which refers to the remaining amount that a policyholder owes on a loan. This balance includes both the princi...

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