A moot question in South African insurance law and practice is whether there is any legal requirement of a causal link between an insured's breach of a term in an insurance contract and the loss giving rise to a claim by the insured under that contract. Put differently, does an insurer ...
The aim is to achieve an economic return on capital given the cost of capital for the insurer while maintaining a healthy level of excess capital. This shift would require the risk function to navigate complex (and sometimes multiple) capital frameworks, establish transparency on capital positions ...
Scale matters … to an extent: Playing the scale game in insurance March 2, 2021 | Article Nagendra Bommadevara Björn Münstermann Sanaya Nagpal Ulrike Vogelgesang Large insurers can turn their scale into a strong competitive advantage—if they recognize that fully harness...
A cedent is a party in aninsurancecontract who passes the financial obligation for certain potential losses to the insurer. In return for bearing a particular risk of loss, the cedent pays aninsurance premium. The term cedent is most often used in thereinsuranceindustry, although the term could...
A war exclusion clause in aninsurancepolicy specifically excludes coverage for acts of war, such as invasions, insurrections, revolutions, military coups, and terrorism. A war exclusion clause in an insurance contract refers to the protection of an insurer who will not be obligated to pay for los...
An application brought by ASIC to void the continuous disclosure obligation clause to an insurance contract issued by AGI Company Ltd has been dismissed. The Federal Court held that continuous disclosure clauses are not unfair, but rather, a reflection
1 The insured's pre-contractual disclosure duty 1.1 Does your national law impose a duty to answer questions put to the applicant/insured by the insurer? According to sec. 19 para. 1 VVG1, the policyholder2 shall represent to the insurer before the insurance contract is concluded all ...
How to Check the Status of an Insurance Claim with a Different Insurance Company What should you do if an insurer is dragging its feet? Final Word: Claims Processes Vary Between Insurers Frequently Asked Questions What does it mean to check the status of an auto insurance policy? How oft...
The insurance company which provides the protection is known as the insurer. The person or business buying the insurance is known as the insured or the policyholder. The insurer and the insured are known as parties to the contract. A. This agreement is very important. B. This agreement is ...
Indemnity is a comprehensive form of insurance compensation for damage or loss. In an indemnity arrangement, one party agrees to pay for potential losses or damage caused by another party. A typical example is an insurance contract, in which the insurer or the indemnitor agrees to compensate the...