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.
An IPO is said to be undersubscribed in case the demand for the shares of the company is much less than the number of shares issued out to the public.
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.
It is a type of loan wherein the borrower is not obligated to pledge an asset as collateral with the lender for acquiring the loan and the interest rate on such loans is usually much higher than that of secured loans.
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