An insurance contract that involves direct participation of policyholders whereby they are allowed to share in the profits in the...

With respect to an insurance contract, direct participation involves multiple distinguishing features such as participation of policyholders in a share...

An insurance coverage (a policy) that is contingent on the absence or unavailability of other insurance. In other words, the...

A situation that arises when the sum insured on an insurance policy — that is, the maximum coverage amount for...

A situation that arises when the sum insured on an insurance policy — that is, the maximum coverage amount for...

Determination of the amount to be paid against a claim in the case the amount or sum insured is undervalued...

Pro rata is Latin for proportionate allocation; in insurance, pro rata involves the process of determining the amount of premium...

In principle, a cliquet option/ ladder option (ratchet option) is an option (or a warrant, index-linked note) that subjects its...

In principle, a ladder option (ratchet option) is an option (or a warrant, index-linked note) that subjects its minimum payoff...

In principle, a ratchet option is an option (or a warrant, index-linked note) that subjects its minimum payoff to an...