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Insurance

First Unpaid Premium(FUP)

In the realm of insurance, the term 'first unpaid premium' signifies the initial instance of a policy holder failing to make their premium payment. When a premium is paid on time, a receipt is provided which denotes the next due date. However, if this due premium is not fulfilled, that date transforms into the 'date of FUP'.

Large-loss principle

When it comes to purchasing insurance, it is important to prioritize your coverage for serious loss exposures over less serious ones. This rule ensures that you are adequate...

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War risk

In the realm of finance, there exists a special coverage that pertains to cargo transported on overseas ships. This coverage protects against the risk of confiscation by a g...

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Frequency reduction

Risk management is a crucial aspect of finance, aimed at reducing the likelihood of unforeseen events. This is achieved through a process known as loss control, which involv...

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Asset-backed securities

Bonds are financial instruments that represent pools of loans with similar characteristics, such as type, duration, and interest rates. These loans can be securitized, meani...

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