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Insurance

Occurrence policy

A type of insurance that covers expenses for occurrences that happen within a specific period, regardless of when the claims are made. This policy provides financial protection for unforeseen incidents that may arise in the future. It ensures that the policyholder is not liable for costs associated with these events, even if they take place years after the policy has expired. This type of coverage is valuable for individuals and businesses alike, as it offers peace of mind and safeguards against potential financial burdens.

Consideration

This is typically done to protect individuals and businesses from financial loss due to unforeseen events. An insurance contract entails a fixed premium and a mutual unders...

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Punitive damages

When a defendant is found to have acted in a grossly negligent manner, they may be assessed punitive damages as a way to set an example and discourage others from behaving s...

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Whole Life Insurance

A fundamental concept in the world of finance is that of whole life insurance. This type of insurance provides coverage for an individual's entire life, as long as the requi...

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Tort law

Welcome to our lesson on the legal principles of civil action for wrongful acts. This encompasses negligence, intentional interference, and other wrongdoings, with the excep...

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