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Obligee

In bond terminology, the obligee is the individual or entity who will be compensated in the event of a loss caused by the obligor's failure. This term is crucial to understanding the risk and liability involved in bond agreements. It is the obligee's financial security that is at stake, making it imperative for them to thoroughly assess the obligor's ability to fulfill their obligations. Essentially, the obligee holds a position of power and trust in the bond agreement, and their protection is of utmost importance.

Directors and officers liability insurance (D&O)

Directors and officers of a company can be held liable for their negligent actions or failures to act, as well as for any false or misleading statements made that lead to leg...

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Affirmative warranty

A vital aspect of the insurance industry is the agency agreement, which is a contract between an insurance company and an agent. This agreement empowers the agent to sell in...

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Loss of use

Homeowners and renters insurance policies often include a valuable provision that covers the costs of temporary living arrangements in the event of a disaster. This means tha...

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Insurable risk

Insurance is a crucial component of financial planning, providing protection against potential risks. Some risks, however, are easier to insure than others. In order for insu...

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