Examlex
In 2010 the average combined ratio after dividends for the P&C industry was ___________.
Debenture Bond
A type of debt instrument not secured by physical assets or collateral but backed only by the issuer's creditworthiness and general reputation.
Unsecured Bond
A bond that is not backed by collateral or specific assets and is solely based on the issuer's creditworthiness.
Face Value
The nominal or original value of a security or currency as stated by the issuer, not necessarily its market value.
Credit Rating
An assessment of the creditworthiness of a borrower, either a business or a governmental entity, reflecting their ability to repay borrowed money.
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