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Insurance

Floor-of-protection concept

Social insurance is based on the principle that it should only provide limited protection, rather than meeting all of one's needs. This means that individuals are expected to supplement their social insurance benefits with their own resources. The purpose of social insurance is to provide a safety net, rather than fully supporting individuals. This principle is important to understand when considering the role of social insurance in financial planning.

Hostile fire

A fire that breaks out beyond its designated boundaries is known as an external fire. This type of fire can be caused by various factors such as weather conditions, human ac...

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Commercial lines

Businesses often purchase specific products to protect their operations. These products include boiler and machinery coverage, which protects against damage to equipment, an...

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Primary

In the world of finance, there exists a concept known as "primary coverage," which refers to policies that have the responsibility to pay up to their limits before any other...

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Kidnap/ransom insurance

As students of finance, it's important to familiarize ourselves with the concept of coverage for ransom and extortion payments, along with related expenses. This type of ins...

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