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Insurance

Rebating

One concept that is frequently deemed unlawful by both legal authorities and regulators is the act of an insurance sales agent offering a portion of their commission to the buyer. This practice, known as rebating, is strictly prohibited in the finance industry. It is important for individuals to be aware of such practices and understand the implications of participating in them. As knowledgeable individuals in the field of finance, it is our duty to educate and guide others on these matters.

Principal

In the realm of finance, we often come across the term 'principal.' Now, the principal is not just the head of a school, but it also refers to the obligor or the individual ...

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Other insurance clauses

In the world of finance, it is essential to understand the clauses found in indemnity contracts and valued contracts. These clauses often limit the liability of the insurer i...

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Unilateral contract

A legal agreement, like an insurance contract, where one party is obligated to fulfill promises that are legally binding. This type of contract is known as a unilateral cont...

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Professional liability

Professional liability is a legal term used to describe the responsibility that a professional person holds for any mistakes made while carrying out their duties. This can i...

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