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A sinking fund is a fund established by an economic entity by setting aside revenue over a period of time to fund a future capital expense, or repayment of a long-term debt. In North America and elsewhere where it is common for government entities and private corporations to raise funds through the issue of bonds , the term is normally used in ...
Policy number: This is a unique number assigned to your car insurance policy. This helps your company find your exact policy when you make changes or file a claim.
Delay, Deny, Defend is a critical exploration of the property and casualty insurance industry, examining how its practices affect policyholders.Feinman, a law professor specializing in consumer rights and insurance law, argues that the industry prioritizes profits over policyholders' needs, often using tactics like delaying or denying legitimate claims to bolster financial performance.
Subject to the "fortuity principle", the event must be uncertain. The uncertainty can be either as to when the event will happen (e.g. in a life insurance policy, the time of the insured's death is uncertain) or as to if it will happen at all (e.g. in a fire insurance policy, whether or not a fire will occur at all). [4]
Indeed, with a whopping 96% of drivers not fully understanding their car insurance policy, coverage gaps like this are far more common than you’d think. And basic liability insurance — the ...
Coverage type. What it covers. Liability. This coverage steps in if you or a listed driver on your policy causes property damage and/or injuries to another person caused by an accident in which ...
In terms of section 1 of the Long-term Insurance Act, “long-term policy” means an assistance policy, a disability policy, a fund policy, a health policy, a life policy or a sinking fund policy, or a contract comprising a combination of any of those policies. It also includes a contract whereby any such contract is varied.
A year later in April 1912 Lloyd's suffered perhaps its most famous loss: the sinking of the Titanic. It was insured for £1 million, which represented 20 per cent of the entire market's capacity, making it the largest marine risk ever insured. The record of its sinking in the 1912 "Loss Book" is on display in the Lloyd's building. [15]