Insurance

Uses of Fire Insurance Fire insurance is a specialized form of insurance beyond property insurance and is designed to cover the cost of replacement, reconstruction…

Fire insurance is a specialized form of insurance beyond property insurance and is designed to cover the cost of replacement, reconstruction or repair beyond what…

Perils versus Hazards A pail is something that can cause a loss. It is an event that can cause a financial loss. Examples include failing,…

Risk Assessment Techniques Risk assessment is the determination of a quantitative or qualitative estimate of risk related to a well-defined situation and a recognized threat…

Important Conditions of Fire Policies The policy conditions may be precedent to the contract conditions subsequent to the contract and conditions precedent to liability. The…

Group insurance is an insurance that covers a group of people, usually who are the members of societies, employees of a common employer, or professionals…

General average and particular average losses are both marine insurance terms which are classified as partial losses. General Average is a loss which is caused…

Pure Risk: There are only two possibilities; something bad happening or nothing happening. It is unlikely that any measurable benefit will arise from a pure…

A risk is the chance of loss, and peril is the direct cause of the loss. If a house burns down, then fire is the…

Ceding company is an insurance company that transfers the insurance portfolio to a reinsurer. So, it is an insurance company that passes the part or…