Economic Concepts D – E – Dictionary – Loan Finance and Money
Here are some common economic terms: Coverage is explained as the smallest unit that can be covered by an insurance contract. Liability, hull and partial hull are examples of auto insurance coverage. Part cover covers damage to your car as a result of fire or explosion, theft, or vandalism in attempted theft, damage to glass panes, and roadside assistance.
eF invoice gives you the opportunity for a completed bill filled to your online bank. All you need to do is confirm your payment. If you create an e-invoice agreement with your bank, you will also be automatically created as a My Page user. Then you can access your insurance documents electronically. Here you will find information on how to create an e-invoice agreement.
The deductible is the proportion of a compensation amount for an injury that you have to cover yourself. This applies in cases where you have to use your own insurance. Usually, choosing a higher deductible will give you a lower insurance premium.
Compensation is a compensation for the financial loss that an injury results. The right to compensation depends on your insurance contract, your terms or Norwegian rules of compensation law.
What is meant by bonus system? Rules for promotion or relegation in the companies’ bonus rises in car insurance. What is meant by bonus? The bonus system aims to reimburse drivers who are not exposed to injury and, consequently, do not burden their insurance contract with damages.
Occupational disability means that it is calculated if, due to illness or accident, you have reduced your abilities and opportunities to be in income-generating work.
When assessing how much earning capacity is impaired, the income opportunities in any work that you can now perform are compared to the income opportunities you had before the illness, injury or listening occurred.