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Looking for information on Insurance? Read this Insurance Glossary 2020 and stay updated.
A contingent liability is defined as potential liabilities or obligations that may or may not occur in the future due to uncertain situations or events. Read more here
An actuary is a business professional who deals with the measurement and management of risk and uncertainty (BeAnActuary 2011a). The name of the corresponding field is actuarial science. These risks can affect both sides of the balance sheet and require asset management, liability management, and valuation skills (BeAnActuary 2011b). Actuaries provide assessments of financial security systems, with a focus on their complexity, their mathematics, and their mechanisms (Trowbridge 1989, p. 7).
A capital market is defined as an intermediary market where the organized trading of long-term debt & equity-backed securities takes place between buyers & sellers. Read more here
A cover is defined as the amount of liability or risk that is covered for an entity or an individual by insurance services. Read more about types of insurance covers & its premium charges.
A contract of indemnity usually refers to a contract that usually consists of an agreement between two parties, where one agrees to cover losses suffered by another party. Read more here
