TomorrowMakers ™

Glossary

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Underinsurance

Inadequate insurance coverage given to a policy holder. This will result in economic losses for the policy holder if he/she makes a claim, since the claim amount may exceed the maximum pay-out the insurer can provide.

Underwriting

A process by which insurance companies access the risk involved in insuring an individual, company, etc. This becomes the basis for allocation of risk class and deciding of premium.

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"Tax-2"

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