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What is the meaning of Concealment?

Concealment is the act of keeping critical information from the insurance company. This is usually done intentionally to maximise claim or other personal benefits. It affects the issuance date and also rates of the insurance contract. Insurance contracts are backed by faith between the insured and the insurance firm. All facts present a strong case […]

What is a Combined Ratio?

The ratio of addition of the incurred losses and operating expenses as part of the percentage of earned premium is known as the Combined Ratio. It measures the profitability of the insurance company to find out its performance in day to day operations.  It basically gauges the outflow of money from the insurance company as […]