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Insurance

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 stake in the venture. In other words, the bigger the investment, the greater the share of the losses. This concept is commonly used in the world of finance and is essential to understand for any investor. It ensures that everyone bears a fair share of the risks and rewards. So, always keep pro rata in mind when making investment decisions.

Contributory negligence

In legal terms, there exists a concept known as "comparative negligence", which refers to a situation where both parties involved in a civil lawsuit share some responsibilit...

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Vandalism

Vandalism is a term used to describe the intentional destruction or damage of someone else's property. This can take many forms, from graffiti on walls to breaking windows o...

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Endorsement

A document that is attached to an insurance policy, known as an endorsement, can modify the coverage, terms, or conditions of the policy. This is also referred to as a rider...

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Bind

An important concept in property and liability insurance is the authority given to agents to accept offers from potential insured individuals without consulting the insurer....

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