People over 60 reported more than $1.7 billion lost to fraud and scams in 2021, according to the FBI’s 2021 Elder Fraud Report. These older adults reported both the most...

What Is Political Risk Insurance? Political risk insurance provides financial protection to investors, financial institutions, and businesses that face the possibility of...

What Is Prior Acts Coverage? Prior acts coverage is an insurance policy feature that covers claims made on insurable events that occurred prior to a policy’s purchase....

What Is Product Recall Insurance? Product recall insurance covers expenses associated with recalling a product from the market. Product recall insurance is...

What Is Retrospectively Rated Insurance? Retrospectively rated insurance is an insurance policy with a premium that adjusts according to the losses...

What Is Risk-Based Deposit Insurance? Risk-based deposit insurance is insurance with premiums that reflect how prudently banks act when investing their...

What Is a Unit Linked Insurance Plan (ULIP)? A unit linked insurance plan (ULIP) is a multi-faceted product that offers both insurance coverage and investment exposure in...

What Is Use and Occupancy Insurance (U&O)? Use and occupancy insurance (U&O) is an obsolete name for what is now called business interruption...

What Is War Risk Insurance? War risk insurance is an insurance policy that provides financial protection to the policyholder against losses from events such as invasions,...

What Is Weather Insurance? The term weather insurance refers to a form of financial protection against losses or damages incurred because of adverse, measurable...

What Is Advance Loss Of Profit (ALOP) Insurance? Advance loss of profit (ALOP) insurance provides coverage for financial losses due to delays in construction and...

What Is Multiline Insurance? A multiline insurance contract is a type of insurance policy that bundles different exposures to risk and covers them under a single...