aInsurance contracts always describe in some way the perils being insured against. One type of BOP names the covered causes of loss. Another uses what insurers may call the “special form,” which states that all causes of loss are covered except those that are excluded by name. Because the...
Another common example of contingent contracts is an insurance contract. Also known as aleatory contracts, insurance contracts will only require an insurance company to pay out to their customers if certain events have occurred. Take a home insurance contract, for example. The contract between the ...
What Sets a Contract of Insurance Apart from Other Contracts?Gerber, David
这个是名词性从句。在这种类型的句子中what有俩种用法，即可以是疑问代词也可以是关系代词。看下边的句子：I don't know what he is writing (疑问代词)I know what he meant.(关系代词)再看：The question is what she told her son before he died.(疑问代词)问题是她临死之前，她告诉了她...
Insurance companies forecast potential losses based on historical data, industry trends, and other actuarial factors. Unearned premium reserves: Also known as premium reserves or premium liability reserves, these reserves are established for policies that have been issued but where the premium has been ...
Insurance: When certain events occur, smart contracts automatically trigger a claim that simplifies and streamlines the claims process. Then, to determine the amount of compensation that users receive, claim details can be recorded on the blockchain. This functionality can reduce processing times and...
Note that a stop work order is different from a stop notice, which is a tool used by contractors in the event that they are not paid. Stop work orders & FAR Federal contracts use the Federal Acquisition Regulation (FAR) to govern non-commercially available goods and services like construction...
In legal terms, when someone accepts an offering they are agreeing to comply with the terms made in the offer. Acceptance can be used in a number of situations such as: In insurance law, when an insurer agrees to the person's application for insurance and in turn will issue them a ...
An annuity is a contract with an insurance company, while a retirement plan is offered by a bank or financial services company. There are two main types of retirement plans:defined-contribution planssuch as401(k)s, anddefined-benefit plans, which are also known as pensions. ...
The requisition process typically requires standardized documents, known as requisition forms, to maintain an audit trail, although most are electronic forms. Requisitions are often used to procure additional supplies, raw materials, or working hours for better inventory control. ...