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Insurance Adjustment

The determination of the amount due for payment under a policy of insurance. Insurance adjustment denotes the determination of the...

Adjustment

The determination of the amount due for payment under a policy of insurance. Insurance adjustment denotes the determination of the...

Estimation Technique

The methods that are applied by an entity to arrive at the estimated monetary amounts for items of the financial...

Accounting Policies

A set of methods, rules, principles, bases, conventions, and practices that is used and applied by an entity in the...

Hard Market

A market in which insurance companies limit the supply of insurance and increase prices, leading to high levels of profitability....

Soft Market

A market that is characterized by high levels of competition among insurance firms, decreasing prices, and declining underwriting standards as...

Acceptance

In contract law, it is an agreement to an offer. Both offer and acceptance are essential for contract formation. For...