Business Insurance

In insurance, coinsurance is a provision that requires policyholders to share costs with the insurer after the deductible has been met. This arrangement applies mostly to property and health insurance policies, aiming to distribute risk between the insured and the insurer. What is Coinsurance? 1. Definition: 2. Key Components: 3. Objectives: Examples of Coinsurance Scenario:

A consequential-loss policy, often referred to as business interruption insurance, is a type of insurance coverage that protects businesses from financial losses incurred due to disruptions in operations caused by covered perils. These policies are designed to compensate businesses for income lost and expenses incurred during the period of disruption, allowing them to recover and

Contingency insurance is a type of insurance coverage designed to protect individuals or organizations against specific risks or unforeseen events that could result in financial loss or liability. It provides financial compensation or benefits to policyholders in situations where predefined contingencies occur, helping them manage the financial impact of unexpected occurrences. Key Points About Contingency

Contract Guarantee Insurance is a type of insurance that provides financial protection to parties involved in a contract. This insurance ensures that if one party fails to fulfill their contractual obligations, the other party will not suffer financially. In this article, we will explain what Contract Guarantee Insurance is, how it works, its benefits, and

Convertible Term Assurance (CTA) is a type of life insurance policy that offers policyholders the flexibility to convert their term life insurance into a whole life or endowment policy at a later date without the need for a medical examination. For learners of accounting and finance, understanding CTA is crucial as it combines the benefits

Cost, Insurance, and Freight (CIF) is an international trade term used in shipping contracts to specify which party is responsible for the costs and risks associated with transporting goods from the seller to the buyer. CIF includes the cost of the goods, marine insurance, and freight charges to the designated port of destination. Importance of

Credit insurance is a valuable financial tool that protects businesses and individuals against the risk of non-payment by customers or debtors. This article provides a clear explanation of what credit insurance entails, its benefits, and practical examples to illustrate its importance in financial risk management. What is Credit Insurance? Definition Credit insurance is a type

Decreasing Term Assurance is a type of life insurance policy where the coverage amount decreases over time. It is typically used to cover specific financial obligations that decrease with time, such as mortgage repayments. This insurance provides a decreasing sum assured to match the reducing financial liabilities of the insured individual. Key Characteristics of Decreasing