Bifurcation

{
  "id": "MLC-T-INS-000556",
  "term": "Bifurcation",
  "field": "Insurance and risk management",
  "definition": "The division of a legal proceeding or a financial instrument into two separate parts. In litigation, it might involve separating the liability phase from the damages phase of a trial to simplify proceedings. In finance, it can refer to splitting a complex derivative into simpler components, such as separating the embedded option from the underlying bond.",
  "url": "https://mlchart.com/terminology/insurance/bifurcation/"
}