Title insurance is a form ofindemnity insurancethat protects lenders and homebuyers from financial loss sustained fromdefects in a titleto a property. The most common type of title insurance is lender’s title insurance, which the borrower purchases to protect the lender. The other type is owner...
A protected cell captive is a single legal entity that segregates the assets and liabilities of its individual “cells.” Each cell operates as a separate insurance entity, providing coverage for a specific company or group of companies. This structure allows businesses to benefit from the advantag...
Sole ownership, which is characterized by a legal individual or entity that holds a title. Typically, sole owners are single individuals or married individuals holding property apart from their spouses. Sole ownership can also be held by businesses as long as they have the type of structure that...
Insurance is a contract between an individual or entity and an insurance company, where the individual/entity pays regular premiums in exchange for financial protection against potential risks or losses. In the event of a covered loss or event, the insurance company provides compensation or...
What is an Annuity? Written by Hersh SternUpdated Wednesday, December 25, 2024 An annuity is a contract between an individual or entity and aninsurance company. Premiums are deposited into the annuity contract and, unless it is animmediate annuity, those funds will grow on a tax-deferred ...
Walls-in coverage: Also called single-entity coverage, this is the most common type of coverage for an HOA to stipulate. This type of coverage provides for the exterior of the condo plus some basic interior features and fixtures that are included by the builder. This type of master policy ...
What Is Debt? Debtis incurred when someone owes another person or entity money. "(It's) when you receive something of value, and you have to pay for it later down the road," says Joseph Conroy, author of "Decades & Decisions: Financial Planning at Any Age," and a financial advisor ...
Enterprise AI is also subject to hype and awash in newly developed tools and services from AI vendors. Which approaches will become the standard baseline technologies is still unnervingly uncertain. What should companies do to ensure their adoption ofenterprise AI drives...
Subdivision bond:This bond is often used when a government entity requires improvements to land during a project. It ensures that infrastructure projects are completed without financial harm to a municipality, such as sidewalks, street lights, storm drains, etc. ...
What Is a Beneficiary? A beneficiary is a person (or entity) who is designated to receive the benefits of property owned by someone else. Beneficiaries often receive these benefits as part of an inheritance. A beneficiary can be designated in the documents relating to a life insurance policy,...