insuranceChevronreasonable expectationscontra proferentumwrap agreementsstandardized contractspublic policycompensation injured partiesadhesionInsurance policies commonly are understood to be a species of standardized contracts. This Article challenges that conventional wisdom and argues that insurance...
In the broader scope of personal finance, life insurance stands out as an important asset that helps ensure financial well-being and future security. However, for financial newcomers, navigating the complexities oflife insurance policycan be a daunting task. Understanding the different policy types,...
your Association’s Master Policy will contain a deductible (which varies depending on the Association). When a loss occurs, the Association can pass that deductible on to impacted unit owners, usually through an insurance deductible resolution adopted by the board. ...
Life insurance provides peace of mind, but it can also provide more. Learn about life insurance policy benefits beyond the death benefit.
Protection Strategies: Thorough due diligence, professional review, and title insurance help safeguard property rights during the transfer process. Resolution of Disputes: Accurate documentation and early preparation are vital for addressing common property deed conflicts. A deed of assignment serves as a ...
Endorsements and extra policies that can help fill any gaps in a business owners policy. Additional coverage choices can include: Commercial auto insurance: For vehicles used for business purposes. Business income and extra expense:An addition to the business interruption part of a BOP, business inc...
People on the existing policies lack a thorough understanding, there is no clear understanding of the two insurance complementary functions. Therefore, even if they know that these two items, however, because they believe that both have a very strong alternative and at the same time the warranty...
Bond insurance is most commonly seen among municipal bonds and asset-backed securities. Understanding Bond Insurance The rating of a debt instrument takes into account the creditworthiness of the issuer. The riskier an issuer is deemed to be, the lower itscredit ratingand, thus, the higher the ...
The modified endowment premium is the amount that makes an insurance policy amodified endowment contract (MEC). Under the Technical and Miscellaneous Revenue Act of 1988, distributions from a policy determined to be a MEC, such as loans or cash surrenders, are potentially taxable and could be ...
Runoff insurance is an insurance policy provision that covers claims made against companies that have been acquired, merged, or have ceased operations. Runoff insurance, also known as closeout insurance, is purchased by the company being acquired andindemnifies—exempts from liability—the acquiring ...