COOPERATIVE INSURANCE - CO-OP INSURANCE
Insurance policy offered to an association, which covers losses to their units. Losses from burglary, fire damage, or liability, among others, are included in the coverage. In general, it gives coverage for common areas such as basement, elevator, common walkways, hallways, and roof. It protects the building, not the apartment owners, unless the damage occurs because of a certain event under the association’s jurisdiction.
POPULAR TERMS
Secondary Mortgage Market
Secondary Mortgage Market is a market wherein mortgage aggregators, securitizers, originators, and investors go to buy and sell mortgage loans and ...
Giffen Good
Good for which demand rises as the price escalates, and declines when the price decreases. It has an upward-sloping demand curve, contrary to the f ...
Inactivity Fee
Fee charged to investors by brokerages for infrequent trading in their brokerage accounts to meet the minimum trading requirement
CVE
Currency abbreviation for the Cape Verde escudo, the official currency of the Republic of Cape Verde. The CVE subunit is called the centavo. Instea ...
Product Recall Insurance
An insurance that covers the costs involved in recalling possibly defective products made by the insured.
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