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Insurance

Involuntary coverage

In finance, there exists a concept known as 'mandatory insurance'. This pertains to the government's requirement for specific groups or individuals to purchase insurance under certain circumstances. This insurance serves as a safety net, providing financial protection in case of unforeseen events. It is crucial for individuals to understand their obligations and the benefits of such insurance, as it can greatly impact their financial well-being. Let us explore this topic further.

Primary company

Reinsurance, a common practice in the insurance industry, refers to the transfer of risk from one insurance company to another. The reinsurer, often a larger and more financ...

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Uninsurable risk

Insurance is a crucial tool in managing financial risks. However, there are certain risks that are difficult to insure against. These risks are typically unpredictable and h...

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Contingent liability

The concept of vicarious liability refers to the legal responsibility of individuals, corporations, or partnerships for accidents caused by individuals who are not their emp...

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Medical payments

When we discuss the topic of insurance, it is important to understand the concept of "reasonable and necessary" medical expenses. These are expenses that are caused by an ac...

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