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Insurance

Retrocession

- One crucial aspect of maintaining financial stability as a reinsurer is through the purchase of reinsurance. This is a form of insurance that provides protection to reinsurers in the event of large and unexpected losses. It is a strategic risk management tool utilized by reinsurers to mitigate potential financial risks. By understanding and utilizing reinsurance effectively, reinsurers can safeguard their financial well-being and continue to provide vital support to the insurance industry.

Peril

Insurance policies can be categorized as either named-peril or all-risk. A named-peril policy provides coverage for specific risks, such as fire, windstorm, flood, or theft....

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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 pr...

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Decreasing term

Let's delve into the world of insurance and focus on an interesting term - "decreasing term life insurance". This type of insurance offers a coverage that gradually decreas...

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Vicarious liability

As a finance professional, it is important to understand the concept of vicarious liability. This refers to the legal responsibility one may have for the actions or wrongdoi...

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