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Insurance

Lifetime maximum

Insurance plans often have a limit that applies to all benefits. This limit, also known as the maximum, can have the potential to be restored over time. This means that the insured may eventually be able to collect more than the initially stated maximum. This concept is important to understand when considering insurance plans and their potential benefits.

Commercial general liability (CGL)

Commercial General Liability (CGL) is a comprehensive policy that provides coverage for all potential liabilities faced by a business, unless specifically excluded. This pol...

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Economic loss

In the world of finance, we often come across the term "financial loss." This refers to the overall loss incurred due to the death or disability of a wage earner, or the des...

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Imputed acts

In the realm of finance, there exists a concept known as transferred responsibility, where one individual may commit an act, but the liability is assigned to another party. ...

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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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