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fluctuations of a published economic index such as wage, price,
cost-of-living, etc.
Inflation Factor
A loading to provide for increased expense costs and loss
payments in the future due to inflation.
In-Force Exposure
Exposure units exposed to loss at a given point in time.
Insurance
The transfer of risk from one party to another party, in which
the insurer promises to pay the insured an amount of money for
economic losses sustained from an unexpected event, during a
period of time for which the insured makes a premium payment
to the insurer.
Insured
The party protected by an insurance policy.
Insurer
The insurance company, or other organization providing insurance
coverage.
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