What Is a Hold Harmless Agreement? A hold harmless agreement is a legal document or clause stating that one party will not hold the other liable for damage, injury, or loss. As a result, this type of agreement shields individuals and companies against potential litigation. It requires the persons with […]
Insurance
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What Is Cestui Que Vie? Cestui Que Vie is the person for whom a benefit exists and whose life measures the duration of a trust, gift, estate, or insurance contract. The term, Cestui que vie is French for “he who lives“. It is a legal term for a person who […]
What Is an Interest Floor Rate? An interest floor rate for interest-bearing securities is an agreement between the issuer and the investor that the floating rate of return will not fall below a specified floor level over an agreed period of time. For an adjustable-rate mortgage, it is the minimum […]
Ancillary Health Insurance Ancillary Health Insurance adds supplemental coverage or extends the coverage you already have for expenses that often accompany many medical treatments. This coverage also refers to benefits that are used to supplement group health insurance. These can include highly sought-after employee benefits like dental, vision, and life insurance. […]
CGL Meaning – What Is Commercial General Liability (CGL) CGL Meaning: Commercial general liability (CGL) is a type of liability insurance for businesses. It provides financial protection if you are held responsible for some of the most common accidents that can occur at a business. A policy provides coverage to […]
Financial Intermediaries – Financial Intermediary Definition A financial intermediary is an entity that acts as the middleman between two parties in a financial transaction. Intermediaries include commercial banks, investment banks, mutual funds, or pension funds. Financial intermediaries provide a middle ground between two parties in any financial transaction. For example, […]