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A promise of compensation for particular potential future losses in change for a periodic payment. Insurance coverage is designed to protect the financial properly-being of a person, company or other entity in the case of sudden loss Some forms of insurance coverage are required by law, whereas others are non-obligatory Agreeing to the phrases of an insurance policy creates a contract between the insured and the insurer In exchange for funds from the insured (referred to as premiums ), the insurer agrees to pay the coverage holder a sum of money upon the occurrence of a selected event.
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A guardian company is an organization that owns enough voting stock in one other agency to regulate management and operations by influencing or electing its board of administrators; the second firm being deemed as a subsidiary of the guardian company. The definition of a dad or mum firm differs by jurisdiction, with the definition normally being outlined by way of legal guidelines dealing with corporations in that jurisdiction.
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