Search results
Results From The WOW.Com Content Network
An automatic renewal clause is used in the insurance and healthcare industries . An automatic renewal clause (also referred to as an evergreen clause), is activated towards the end of the contractual period whereby it automatically renews the terms of an agreement except when the contract is terminated (through mutual agreement or contract breach), or one of the contracting parties has sent a ...
The term Bermuda Form refers to various types of insurance policy.. In the 1980s, American companies found it increasingly difficult to buy large amounts of casualty (liability) insurance, partly because American courts interpreted policies in ways which gave coverage to policyholders which was wider than the insurers had anticipated, causing insurers large losses particularly in relation to ...
In insurance, the insurance policy is a contract (generally a standard form contract) between the insurer and the policyholder, which determines the claims which the insurer is legally required to pay. In exchange for an initial payment, known as the premium, the insurer promises to pay for loss caused by perils covered under the policy language.
A BOP is actually an insurance package that combines several forms of coverage together, making it a simple option for small business owners. BOPs usually include general liability, property ...
Tortious interference of business – When false claims and accusations are made against a business or an individual's reputation in order to drive business away. Tortious interference of contract – When an individual uses "tort" (a wrongful act) to come between two parties' mutual contract.
Place a stub template at the very end of the article, after the "External links" section, any navigation templates, and the category tags. As usual, templates are added by including their name inside double braces, e.g. {{Insurance-company-stub}}.
In specific circumstances these terms are used differently. For example, in English insurance law, violation of a "condition precedent" by an insured is a complete defence against the payment of claims. [74]: 160 In general insurance law, a warranty is a promise that must be complied with. [74]
New Business Strain is artificial in that it is a function of how a regulatory body, for example, might look at a life insurer's financial position. This tends not to be realistic, but instead conservative - because that is the role a regulator plays.