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Negligence

Negligence is the legal term used to describe the lack of care shown by an individual in carrying out their duties. This failure to meet the standard of care required can result in legal consequences. It is important to understand the concept of negligence as it is a crucial aspect in the world of finance. Let's delve deeper into this topic and explore its various implications.

Product liability

Product liability is a crucial aspect of tort law that addresses the legal responsibility of manufacturers and sellers for any damages caused by their products. This include...

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Pure premium

In the realm of insurance, there exists a concept known as the "basic loss ratio." This refers to the portion of an insurance premium that is purely representative of the co...

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Aleatory contract

An aleatory contract is a binding agreement in which the outcome is determined by an uncertain event. This type of contract is commonly used in the insurance industry, where...

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Risk reduction

Uncertainty reduction refers to the reduction of overall ambiguity in a given scenario. This can be achieved through various means, such as gathering more information, utili...

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