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Insurance

Quota share treaties

In the world of insurance, there exists a practice known as reinsurance. This involves multiple insurers coming together to share the risk and responsibility of covering a particular line of insurance. Each insurer agrees to take on a certain percentage of both premiums and losses, creating a strong safety net for all parties involved. This collaboration allows for a more efficient and secure approach to managing risk in the insurance industry.

Risk transfer

In the world of finance, there exists a risk management technique known as risk transfer. This involves one party, known as the transferor, paying another party, known as th...

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Primary Beneficiary

Life insurance is a crucial financial tool that provides a designated beneficiary with policy benefits upon the insured's death. This beneficiary, chosen by the insured, is ...

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Spread of risk

Insurance companies use a concept called diversification to minimize the risk of losses among their policyholders. This means selling insurance to a large number of people i...

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Loss adjustment expenses

Insurance companies must account for the expenses incurred in investigating and resolving insurance claims, which also includes the costs of defending a lawsuit in court. Th...

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