Businesses obtain insurance policies for field-specific risks, For example, a fast-food restaurant's policy may cover an employee's injuries from cooking with a deep fryer. Medical malpractice insurance covers injury- or death-related liability claims resulting from the health care provider's neglige...
An automobile, according to Maine's Bureau of Insurance, is often considered a total loss if the cost to repair the vehicle is 75 percent or more than the actual cash value of the vehicle. Actual cash value is based on the year, make and model of the vehicle, as well as any additiona...
In general, your insurance company will determine your vehicle to be a total loss if the costs associated with repairing the vehicle are greater than when replacing it. You will be compensated based on what the company determines to be the vehicle's actual cash value, which is its current ma...
Ground-up loss is the total amount of loss that is covered by an insurance policy. Ground-up loss does not include deductibles paid by the insured, nor does it include liabilities ceded to areinsurancecompany.1 Key Takeaways Ground-up loss is the total amount of loss that is covered by a...
How accounting services determine loss for insurance purposesGlendening, Frank S
Your insurance agent can help you determine what auto insurance type and level of coverage best suit your needs, and once you reach that agreement, you purchase your policy by paying the premium. An insurance policy is a contract based on a good faith agreement that if you are involved in ...
However, the trend is typically accompanied by job loss, poor investment return and other side effects. The good news is this: Preparing your finances for deflation involves many of the same good financial habits as preparing for inflation does. Those financial moves include shoring up your ...
The probable maximum loss (PML) is the maximum loss that an insurer is expected to lose on an insurance policy. Insurers use various models and data to determine the risk associated with underwriting a policy, which includes the probable maximum loss (PML). ...
This difference between the average hedged amount and the actual hedged amount, here 30 USD (100 USD ⋅⋅ 0.30), is used to determine benchmark gains or losses. The amount of 30 USD could be converted to EUR by either hedging the entire 30 USD, i.e., an application of the actual...
In most of this research, the concept of “contact” remains obscure: it is very difficult to determine the precise nature of a given interaction, how it was interpreted by those involved, and what impact it had on someone’s attitude toward the police. The literature that has grown up aro...