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An indemnity is distinct from a warranty in that: [8] An indemnity guarantees compensation equal to the amount of loss subject to the indemnity, while a warranty only guarantees compensation for the reduction in value of the acquired asset due to the warranted fact being untrue (and the beneficiary must prove such diminution in value).
In law, set-off or netting is a legal technique applied between persons or businesses with mutual rights and liabilities, replacing gross positions with net positions. [1] [2] It permits the rights to be used to discharge the liabilities where cross claims exist between a plaintiff and a respondent, the result being that the gross claims of mutual debt produce a single net claim. [3]
A mutual insurance company is an insurance company owned entirely by its policyholders. It is a form of consumers' co-operative . Any profits earned by a mutual insurance company are either retained within the company or rebated to policyholders in the form of dividend distributions or reduced future premiums.
This is an accepted version of this page This is the latest accepted revision, reviewed on 11 December 2024. Equitable transfer of the risk of a loss, from one entity to another in exchange for payment "Insure" redirects here. Not to be confused with Ensure. For other uses, see Insurance (disambiguation). An advertisement for a fire insurance company Norwich Union, showing the amount of assets ...
Mutual funds are a popular way to invest, and if you have a 401(k) or other workplace retirement plan, you probably own some. But mutual funds can be misunderstood. Here are four common myths ...
In the typical stock company, profits go to shareholders. In contrast, a mutual manages the company in the best interests of the customers. Furthermore, a mutual company is able to focus on a longer horizon than a typical company. Some mutual insurance companies make this claim explicitly.
“No one should have to be fighting cancer and insurance at the same time,” Tsoukalas, a West Lafayette, Indiana, resident who is now in law school, told CNN. “It’s such a cruel system.
Reciprocals are sometimes confused with mutual insurance companies. While the products of stock companies, reciprocals, and mutuals may be practically indistinguishable to consumers, there are technical differences. A reciprocal is unincorporated; a mutual is incorporated and thus can claim to be "owned by our policyholders".
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