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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.

Principle of indemnity

In the realm of insurance, there exists a doctrine that sets a cap on the amount an insured individual can receive - the actual cash value of their insured property. This pr...

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Contractors' Equipment floater

Mobile equipment, such as tractors, steam shovels, and drilling equipment, is vital in the construction and mining industries. However, their high value and constant use also...

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Comprehensive coverage

Let's discuss a crucial aspect of auto insurance - comprehensive coverage. This segment of your policy safeguards your vehicle against damages that do not involve a collisio...

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Schedule

In the world of finance, we often come across the term "schedule of benefits." This refers to a detailed breakdown of the various components that make up a policy or plan. I...

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