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Insurance

Premises

In the world of finance, the term "specified location" refers to the specific area of a property that is outlined in an insurance policy. This designated area serves as a crucial aspect of the policy, as it helps determine the coverage and potential risks associated with the property. Understanding the concept of a specified location is essential for proper risk management and financial planning. Let's delve deeper into this concept and explore its significance in the world of insurance.

Pro-rata clause

The prorata clause, a common insurance term, establishes an agreement among insurers to evenly distribute losses based on the proportion of their coverage to the total cover...

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Flood

As a finance professor, it's important to understand the terminology associated with natural disasters that can impact financial systems. These include (1) inland or tidal w...

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Equal shares

In the world of insurance, there exists a method of apportionment known as pro rata. This method involves the distribution of a loss among multiple insurers who have provide...

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Concurrent causation

In the realm of insurance, there exists a legal principle known as "concurrent causation." Simply put, this doctrine states that in the event of a loss caused by two perils,...

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