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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.

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...

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Mortality table

The mortality table is a valuable tool used in the world of finance to determine the likelihood of death at different ages. It presents the number of deaths per thousand ind...

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All-risk agreement

When discussing property or liability insurance contracts, it's important to understand that there are two types: named perils and open perils. A named perils policy only co...

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Outstanding debt

Debt is a financial term that refers to the amount of money owed by an individual to their creditors or lenders. In the context of insurance, outstanding debt specifically p...

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