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Mechanical Breakdown Insurance helps pay for repairs or replacements when machines or equipment fail due to defects, workmanship issues, or normal wear and tear. What Does Mechanical Breakdown Insurance Mean? …
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Market value is the fair price an asset could sell for in the current market, based on what buyers are willing to pay and sellers are willing to accept. What …
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Margin premium is a deposit that an organization must keep with a broker when buying or selling futures contracts. This deposit acts as a form of financial security, helping make …
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Manufacturers Output Policies help protect a manufacturer’s products and materials from the moment they arrive as raw materials until finished goods are shipped to customers. These policies are designed for …
What Are Manufacturers Output Policies? – Simple and Easy Explanation Read More
Mandated benefits are insurance coverages that the law requires insurance plans to include, no matter who provides the policy. These benefits are set by state or federal governments to make …
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Managed care is a health care system designed to control costs while still making sure people get the medical care they need. Managed care affects how you choose doctors, how …
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Malpractice happens when a professional makes a serious mistake or acts carelessly, causing harm, loss, or injury to someone else. What Does Malpractice Mean? Malpractice is a legal term used …
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Major medical insurance is the main type of health insurance that helps cover big medical costs like hospital stays, surgeries, doctor visits, and prescription drugs. What Does Major Medical Mean? …
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Losses Incurred But Not Reported (IBNR) are estimated funds insurers set aside for claims that have already happened but haven’t been reported yet. Understanding IBNR in Simple Terms Losses Incurred …
What Are Losses Incurred But Not Reported (IBNR)? – Simple and Easy Explanation Read More
Losses incurred are the total cost of insurance claims, including amounts already paid and money set aside for future payments. Understanding Losses Incurred in Plain Language Losses incurred is a …
What Are Losses Incurred? – Simple and Easy Explanation Read More