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Insurance

Additional insureds

As we delve into the world of finance, it is crucial to understand the concept of insurable interest. This refers to individuals who have a stake in the property or person covered by an insurance policy. These individuals are protected against the specific losses outlined in the policy. However, it is important to note that they typically receive less coverage than the primary named insured. Let's explore this further to gain a better understanding.

Opportunity cost

A wise financial strategy involves carefully balancing the need for liquidity with the opportunity cost of keeping funds in a loss reserve. By maintaining a reserve, a compa...

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Contract

A contract is a legally binding agreement that involves a set of promises which can be enforced by law. This means that if one party fails to fulfill their promises, the oth...

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Occupational Hazard

Occupational hazard refers to a risk factor associated with a particular job that increases the chances of accidents, sickness, or even death. This can result in higher insu...

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Earnings multiple approach

A commonly used term in employee benefits, a group life plan provides an employee with a predetermined amount of life insurance coverage, typically one or two times their a...

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