Why do DSU and BI exclude variable cost?
Variable cost refers to expenses that change proportionally with the level of production or business activity. These costs vary based on the volume of output or the level of sales…
What are the differences between additional increased cost of working cover (AICOW) and increased cost of working (ICOW) cover?
The terms "additional increased cost of working cover" and "increased cost of working cover" are related to insurance policies that provide coverage for financial losses incurred by a business due…
How does turnover based annual construction all risks insurance programme work?
A turnover-based annual construction all risks insurance program is a type of insurance coverage specifically designed for construction projects. It provides protection against a wide range of risks and perils…
Differences between Workers Compensation Insurance and Employer Liability Insurance
Workers Compensation Insurance and Employer Liability Insurance are two distinct types of insurance coverage that provide protection to employers and employees in the event of workplace injuries or illnesses. While…
Differences between Workers Compensation Insurance and Employer Liability Insurance
Workers Compensation Insurance and Employer Liability Insurance are two distinct types of insurance coverage that provide protection to employers and employees in the event of workplace injuries or illnesses. While…
Type of LEG Exclusion – Easy Way to Understand Difficult Insurance Concepts
It's important to note that the specific coverage and exclusions wereunder LEG1, LEG2, and LEG3 clauses can vary between insurance policies and insurers. It's always recommended to carefully review the…
What is Material Damage Proviso Waiver Clause? How Does it Work in a Business Interruption Insurance?
In Asia, it is common to see Material Damage Proviso Waiver Clause in a Business Interruption Insurance policy. However, the wording of this clause always confuses readers. Clause Wording -…
Project Marine Cargo Insurance
Marine cargo insurance is a crucial component of international trade, providing protection for cargo owners and transporters against the risks involved in shipping goods over long distances. However, the complex…
Minimum Insurance Requirements for Project Finance and Lender Endorsement
In international project finance, insurance plays a crucial role in managing and mitigating risks associated with large-scale projects. While the specific insurance requirements and clauses can vary depending on the…
Insurance 101: PML and EML
In insurance, PML and EML are commonly used acronyms that refer to different ways of estimating potential losses. Here's a breakdown of what they mean: PML (Probable Maximum Loss): PML…