Insurance Law
| Insurance Law> General Liability Insurance> Property Coverage |
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| (The CGL Policy Exclusion For "Your Product") More... |
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| No-Fault Automobile Insurance |
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| No-fault insurance provides coverage for an insured's injuries or damages up to the policy limit regardless of whether the insured or another driver was at fault. More... |
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| Purchasing Groups |
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| The Liability Risk Retention Act of 1986 provides for the formation of purchasing groups to buy insurance. Such groups must be made up of members or companies with similar risk exposure due to their involvement in similar businesses. The groups must meet the regulatory requirements of the states in which they are organized, but, due to preemption by the Act, some regulatory requirements of other states in which the groups do business do not have to be met. More... |
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| Payees of Claims |
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| When a claim is submitted to an insurer under an insurance policy and the insurer determines that it will make payment for the loss incurred, the insurer must then make payment to the proper party. To determine the proper payee of insurance proceeds, an insurer must focus on the rights under the policy rather than the rights of the parties to the insured property. For example, the fact that a party owns the insured property does not mean that he is entitled to the proceeds when a loss occurs. In general, any party with a recognized interest in the proceeds may be entitled to payment. If a party entitled to payment is not paid, the insurer may be subject to multiple liability for the same loss. More... |
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| Denial of Claims |
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| An insurer may deny a claim for a loss made by an insured in certain circumstances. However, the insurer must follow certain standards and guidelines when making such a denial. More... |
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