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Business Word/Phrase of the Day

word-phrase-descEvery day we publish a business word or phrase together with audio pronunciation, phonetics, definition and example sentences. This is a great way to improve your workplace vocabulary as well as your pronunciation. To receive 'Business Word/Phrase of the Day' by email, just subscribe to our newsletter from the link above. 

INVESTMENT BANKING /ɪnˈvɛst mənt ˈbæŋ kɪŋ/

29 Mar 2024

phrase

  • Investment Banking is a division of banking which includes business entities dealing with creation of capital for other companies. In addition to acting as agents or underwriters for companies in the process of issuing securities, investment banks also advise companies on matters related to the issue and placement of stock.
Example Sentences:What percentage of HSBC’s profits come from its investment banking division?
The bank’s investment banking division performed poorly last year due to the stock market crashes in South America.
 

LAUNDERED MONEY /ˈlɔn dərɜrd ˈmʌn i/

28 Mar 2024

phrase

  • Laundered Money are funds sent through numerous bank accounts one after another in an attempt to hide the source of the money.
Example Sentences:The government has taken precautions to ensure that laundered money does not enter the country unnoticed.
All banks now have to inform the authorities if they suspect laundered money.
 

LIABILITIES /ˌlaɪ əˈbɪl ɪ teez/

27 Mar 2024

noun

  • Liabilities include accounts payable (money you owe to suppliers), plus all current costs of doing business (mortgage payments, insurance, taxes, salaries, utilities).
Example Sentences:The business has liabilities of $2 million.
If our liabilities increase further, we’ll have to consider closing down the company.
 

NET WORTH /nɛt/ /wɜrθ/

26 Mar 2024

phrase

  • Net Worth is the value of a person’s assets, including cash, minus total liabilities. It is often used as an underwriting guideline to indicate an individual's creditworthiness and financial strength.
Example Sentences:He may appear to be rich, but his net worth is quite small, actually. He has 95% mortgages on most of his properties.
Bill Gates’ net worth increased dramatically over the past year due to the good performance of Microsoft’s shares.
 

LOAN /loʊn/

25 Mar 2024

noun or verb

  • A loan is a written or oral agreement for a temporary transfer of a property (usually cash) from its owner (the lender) to a borrower who promises to return it according to the terms of the agreement, usually with interest for its use.
  • If you loan something, such as money, to someone, you lend it to them. You expect them to return it later to you.
Example Sentences:The bank gave me a loan of $3,000.
Can you loan me $10?
 

THIRD PARTY INSURANCE  

24 Mar 2024

Noun

  • in an insurance contract, a person who is not the insurance company or the insured person, but who will receive money if they suffer loss or damage caused by the insured person.
Example Sentence: The policyholder is covered if they cause injury or damage to a third party.

 

 

INSURANCE AGENT ɪnˈʃʊərəns eɪdʒənt

23 Mar 2024

Noun

  • a person or company who gives advice about and sells insurance for an insurance company or number of insurance companies.
Example Sentence: A good insurance agent can be a very useful guide to the policies available.

 

 

POLICYHOLDER pɒləsiˌhoʊldər

22 Mar 2024

Noun

  • a person or group that has made an agreement with an insurance company that it will provide insurance against particular risks.
Example Sentence: The sickness cover pays out a lump sum if the policyholder is diagnosed as suffering from a serious illness.

 

 

COVER kʌvər

21 Mar 2024

Verb

  • protect someone or something against loss, damage, accident, etc., by insurance.
Example Sentence: The policy covers employee and public liability, equipment loss, materials, and personal accidents.

 

 

EXCESS ɛksɛs

20 Mar 2024

Noun

  • a part of the cost of an accident, injury, etc. that you agree to pay yourself when you buy insurance:
Example Sentence: Cover would cost £239 a year with a £75 excess, or £215 a year with a £250 excess.

 

 

INSURANCE ASSESSMENT nˈʃʊərəns əˈsɛsmən

19 Mar 2024

Noun

  • the analysis done by the insurer to determine the specific costs of a claim.
Example Sentence: The assessment of these expenses will take approximately 2 weeks.

 

 

MEDICAL EXPENSES mɛdɪkəl ɪkˈspɛns

18 Mar 2024

Noun

  • the money spent in a hospital for medicine, doctors’ fees, tests, etc.
Example Sentence: Often medical expenses can be used when filing taxes each year.

 

 

REIMBURSE riɪmˈbɜrs

17 Mar 2024

Verb

  • the customer pays the expenses first and the insurance company pays the customer back after a claim is filed.
Example Sentence: I hope my insurance company reimburses those expenses soon—they totalled nearly $3,000!

 

 

MEDICAL COVERAGE mɛdɪkə kʌvərɪdʒ

16 Mar 2024

Noun

  • medical expenses which are covered by the insurance policy.
Example Sentence: My medical coverage won’t pay for medicine I get abroad.

 

 

TRAVEL INSURANCE trævəl ɪnˈʃʊərəns

15 Mar 2024

Noun

  • insurance which covers travellers in foreign countries, usually covers medical expenses, sometimes additional expenses.
Example Sentence: Travellers insurance is very important when traveling in developing or developed countries.

 

 
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