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Insurance

Guaranteed Term

In the world of finance, there exists a type of renewable term insurance that endures as long as the premiums are promptly paid. This is known as guaranteed term insurance, where the insurance company is bound to maintain the policy throughout its term. This offers a sense of security and stability for the policyholder, as they can rest assured that their coverage will not be abruptly terminated by the insurer.

Contract

A contract is a legally binding agreement that involves a set of promises which can be enforced by law. This means that if one party fails to fulfill their promises, the oth...

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Loss adjustment expenses

Insurance companies must account for the expenses incurred in investigating and resolving insurance claims, which also includes the costs of defending a lawsuit in court. Th...

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Estoppel

One of the fundamental principles in the realm of finance is the doctrine of estoppel. Under this legal principle, an individual may be obligated to either take action or re...

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Vicarious liability

As a finance professional, it is important to understand the concept of vicarious liability. This refers to the legal responsibility one may have for the actions or wrongdoi...

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