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Insurance

Multiple peril policy

A package policy, commonly known as a homeowners or business insurance policy, offers protection against various perils. This type of policy combines both property and liability coverage into one comprehensive plan. In simpler terms, it offers a one-stop solution for insurance needs, making it a convenient and cost-effective option for individuals and businesses alike. As we delve deeper into the world of finance, understanding the concept of package policies will prove to be a valuable asset.

Pooling

of investors is known as pro rata Pro rata refers to the practice of distributing total losses among a group of investors. This is done in proportion to each investor's sta...

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Probate Costs

In the realm of finance, it is important to understand the concept of probate. This legal process involves the handling of one's will and the assets that are left to others....

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Actuarial Cost Method

One essential tool in the realm of finance is the method used to calculate contributions within an insurance plan. This provides a comprehensive understanding of the financi...

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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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