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A contract uberrimae fidei is a contract of 'utmost good faith', and include contracts of insurance, business partnerships, and family agreements. [27] When applying for insurance, the proposer must disclose all material facts for the insurer properly to assess the risk.
Uberrima fides is strictly limited in English law to the formation of the insurance contract. [5] During the mid-20th century, American courts expanded it much farther into a post-formation implied covenant of good faith and fair dealing. Violation of that implied covenant came to be seen as a tort, now known as insurance bad faith. [5]
For this reason, many social philosophers have considered coercion as the polar opposite to freedom. [10] Various forms of coercion are distinguished: first on the basis of the kind of injury threatened, second according to its aims and scope , and finally according to its effects , from which its legal, social, and ethical implications mostly ...
35 U.S.C. § 271(b) creates a type of indirect infringement described as "active inducement of infringement," while 35 U.S.C. § 271(c) creates liability for those who have contributed to the infringement of a patent.
An entity which provides insurance is known as an insurer, insurance company, insurance carrier, or underwriter. A person or entity who buys insurance is known as a policyholder, while a person or entity covered under the policy is called an insured. The insurance transaction involves the policyholder assuming a guaranteed, known, and ...
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.
Inducement may refer to: Incentive, persuading a person to alter their behaviour; Bribery, a gift to influence an official; See also. Inducement prize contest, a ...
The Insurance Act of 1938 [6] was the first legislation governing all forms of insurance to provide strict state control over insurance business. Life insurance in India was completely nationalized on January 19, 1956, through the Life Insurance Corporation Act. All 245 insurance companies operating then in the country were merged into one ...