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Insurance

Cost-of-living rider

An endorsement is a change or addition to an insurance policy that modifies the coverage or terms of the original policy. One type of endorsement that may be relevant in the world of finance is the CPI endorsement. This endorsement automatically increases the amount of coverage by the same percentage that the Consumer Price Index (CPI) has risen since the policy was issued. Essentially, this means that the policy will keep up with inflation and provide adequate coverage over time. It's important for individuals to understand the various endorsements available and how they can impact their insurance coverage.

Mediation

Mediation is a nonbinding process that involves a neutral third party who works towards resolving a dispute between two conflicting parties. This method is commonly used in ...

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Utmost good faith

Understanding the concept of utmost good faith in insurance contracts is crucial in the world of finance. This doctrine requires a higher level of honesty and disclosure fro...

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Trustee

A trustee is the individual who holds legal ownership of a trust's property. It is their duty to manage and distribute the assets in accordance with the terms outlined in th...

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Loss costs

Insurance rates are composed of two main parts: the portion that covers claims and the costs of adjusting those claims. To determine these rates, insurance companies forecas...

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