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Insurance

Principle of indemnity

In the realm of insurance, there exists a doctrine that sets a cap on the amount an insured individual can receive - the actual cash value of their insured property. This principle aims to provide fair compensation, taking into account the depreciation and wear and tear of the property. This limitation is a crucial aspect to consider in the world of finance, as it can greatly impact an individual's financial recovery after a loss.

Optionally renewable

A policy that can be terminated by the insurer on the yearly anniversary date without any limitations. The insurer is free to cancel the policy at any time, as long as it fa...

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Group Life Insurance

Group life insurance is a type of coverage that provides financial protection for a group of individuals under a single policy. Unlike individual life insurance, group covera...

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Credit insurance

In the realm of finance, there exists a crucial concept known as commercial coverage. This type of coverage protects businesses from financial losses incurred due to the ina...

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Non-admitted insurer

In certain states or countries, you may come across insurers who hold licenses in some regions but not in others. These insurers are known as non-admitted in the countries w...

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