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Insurance

Fidelity bond

One crucial aspect of managing finances is having a clear understanding of insurance terminology. In particular, the concept of fidelity insurance is highly relevant for businesses. This type of coverage protects companies from financial losses resulting from fraudulent actions committed by designated individuals. In essence, it provides a safeguard against the dishonest acts of employees and other specified individuals. It is imperative for businesses to have fidelity insurance in place to mitigate the risks of financial harm due to fraudulent activities.

Reinsurance

Reinsurance is a risk management strategy where a primary insurer transfers risk to a reinsurer. This allows the primary insurer, also known as the ceding company, to protec...

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Pre-loss activities

Realizing the importance of mitigating potential financial losses, proactive strategies are put in place to prevent such occurrences. These methods primarily aim to reduce t...

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Re-entry Option

In a renewable term life policy, there is an option that allows the policy owner to renew their coverage at the end of the term without having to provide evidence of insurab...

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Cash value

Life insurance policies often include a savings component, known as the cash value. This is the amount of money that is accumulated over time through regular premium payment...

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