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Insurance bad faith is a tort [1] unique to the law of the United States (but with parallels elsewhere, particularly Canada) that an insurance company commits by violating the "implied covenant of good faith and fair dealing" which automatically exists by operation of law in every insurance contract.
Reputational damage is the loss to financial capital, social capital and/or market share resulting from damage to an organization's reputation. This is often measured in lost revenue, increased operating, capital or regulatory costs, or destruction of shareholder value. [1]
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]
Term. Meaning. Appraisal. An appraisal is a detailed assessment of either the property or property damage. An appraisal is written by an adjuster to estimate the amount of damage from a loss.
You may be able to take out a life insurance policy on someone else if you have the following relationships, as long as you would suffer a financial loss or undergo a financial hardship if they ...
In Queensland, the process for having someone declared a vexatious litigant is governed by the Vexatious Proceedings Act 2005, which supplanted an earlier Act. [5] The Act defines a vexatious proceeding to include a proceeding brought without merit or any prospect of success, with the consequence that it is not necessary to prove the existence of any improper motive in order to obtain relief ...
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In that report, they defined reputation laundering as "the process of concealing the corrupt actions, past or present, of an individual, government or corporate entity, and presenting their character and behaviour in a positive light." [4] The phrase "reputation laundering" is a play on the older phrase "money laundering".