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Insurance

Property/casualty insurance

In the vast world of insurance, there are two main sectors: property/casualty and life/health. Today, let's focus on property/casualty insurance, also known as non-life or general insurance. This type of insurance covers damage or loss of property belonging to the policyholder, as well as any legal liability for damages caused to others or their property. Common examples of property/casualty insurance include auto, homeowners, and commercial insurance. It is an essential aspect of the insurance industry and plays a crucial role in protecting individuals and businesses from financial losses.

Theft

Stealing is a severe offense that refers to the illegal taking of someone else's property without their permission. It is considered a form of theft and can include a wide r...

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Free-of-capture-and-seizure (FC&S) clause

Marine insurance often contains a clause that specifically excludes coverage for losses incurred due to war. This means that any damages or losses resulting from a war or mi...

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Authority

The IRDA, created under the Insurance Regulatory and Development Authority Act of 1999, serves as the governing body for the insurance industry. Its main responsibility is t...

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Risk retention

Risk management involves making strategic decisions on how to handle risk. One approach is to bear the consequences of risk, rather than trying to avoid or transfer it. This...

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