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Insurance

Warranty

An essential element of an insurance contract is a clause that outlines specific conditions, circumstances, or facts that must be met before or after the contract takes effect. This provision serves as a safeguard for both the insurer and the insured, ensuring that the contract is valid and enforceable. As a knowledgeable finance professor, it is important to understand the intricacies of such clauses in order to make informed decisions regarding insurance contracts.

Experience

A record of losses, also known as a loss register, is a crucial tool in the world of finance. It is a comprehensive log that tracks all financial losses incurred by a compan...

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Third-party Owner

In the world of finance, it is important to understand the distinction between a policy owner and a prospective insured. While these terms may seem interchangeable, they hol...

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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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Convertible

A convertible term policy is a type of insurance that offers the option to transition to permanent coverage, rather than terminating on a specific date. This allows policyho...

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