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Insurance

Business interruption insurance

As a business owner, you may have heard of the term "business interruption insurance". This type of coverage provides reimbursement for lost profits and fixed expenses during the time your business is closed for restoration due to physical damage from a covered peril, such as a fire. Additionally, this insurance may also cover financial losses if civil authorities restrict access to your business premises after a disaster, preventing customers from reaching you. Keep in mind, the coverage may have a waiting period and can last for several weeks or longer, depending on your policy.

Estoppel

One of the fundamental principles in the realm of finance is the doctrine of estoppel. Under this legal principle, an individual may be obligated to either take action or re...

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Money Back Plan

A policy that includes a provision for the policyholder to receive periodic payments equal to a portion of the total amount guaranteed....

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Face amount

A life insurance contract contains a crucial element known as the death benefit. This refers to the predetermined amount of money that will be paid out to the designated ben...

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Loss adjustment expenses

Insurance companies must account for the expenses incurred in investigating and resolving insurance claims, which also includes the costs of defending a lawsuit in court. Th...

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