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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.

Inland transit policy

A fundamental agreement that pertains to domestic shipments, predominantly transported through land-based transportation methods. This type of contract outlines the terms an...

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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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Gross premium

Insurance premiums are the fees charged by an insurance company to provide coverage for potential losses, as well as overhead costs and profit. These premiums are calculated ...

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Participating Policy

A participating policy, often referred to as a with-profits or par policy, is a type of insurance policy that involves a higher premium compared to a non-participating polic...

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