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An officer is a key person in a company who holds an official leadership role and helps manage daily operations and major decisions. When you hear the word officer in …
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Ocean marine insurance protects ships, cargo, and businesses involved in transporting goods by sea or inland waterways, helping cover losses, damage, and liability risks. If you’ve ever wondered how goods …
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An occurrence in insurance refers to an accident or harmful event that causes bodily injury or property damage during the policy period, as long as the damage was not expected …
What Is an Occurrence in Insurance? – A Simple and Easy Explanation Read More
Nuclear energy liability insurance helps protect businesses from claims involving injury or property damage caused by nuclear energy materials, whether those materials are radioactive or not. Understanding Nuclear Energy Liability …
What Is Nuclear Energy Liability? – A Simple and Easy Explanation Read More
A Nationally Recognized Statistical Rating Organization (NRSRO) is an independent company that evaluates the financial strength and creditworthiness of organizations like insurers, banks, corporations, and even governments. In simple terms, …
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Notional value is the reference amount used to calculate payments in derivative contracts, even though that amount usually isn’t exchanged. If you’ve ever read about derivatives like options, futures, or …
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Non-proportional reinsurance helps insurance companies protect themselves from big losses across their entire portfolio, not individual policies. Insurance companies face risk every single day. Some losses are small and predictable, …
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A non-controlled stock insurer is an insurance company partly owned by another company, but not controlled by it. If you’ve ever looked into how insurance companies are structured, you may …
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A nonadmitted insurer is an insurance company not licensed in a specific state, often used when standard insurers won’t cover certain risks. When shopping for insurance, you may hear the …
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Nonadmitted assets are items with value that insurers can’t count toward paying claims, helping regulators judge an insurer’s true financial strength. When you hear the word “assets,” you probably think …
What Are Nonadmitted Assets? – Simple and Easy Explanation Read More