Search results
Results From The WOW.Com Content Network
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.
Subject to the "fortuity principle", the event must be uncertain. The uncertainty can be either as to when the event will happen (e.g. in a life insurance policy, the time of the insured's death is uncertain) or as to if it will happen at all (e.g. in a fire insurance policy, whether or not a fire will occur at all). [4]
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 ...
Starting your own business requires a significant investment of both time and money. Millions of people continue to step up to the challenge with 33 million small businesses active in the U.S. as ...
The term "inverse consequences" has been in use for over 175 years (since at least 1835). [1] The term was also used by Auguste Comte (1798–1857) in his book System of Positive Polity (published 1875), stating, "Inevitable increase in Complication, in proportion with the decrease of Generality, gives rise to two inverse consequences."
Insurance regulatory law is the body of statutory law, administrative regulations and jurisprudence that governs and regulates the insurance industry and those engaged in the business of insurance. Insurance regulatory law is primarily enforced through regulations, rules and directives by state insurance departments as authorized and directed ...
A life insurance policy may be used as collateral to secure a loan. If you die before the loan is repaid, the lender will be repaid from the policy’s death benefit proceeds before beneficiaries ...
Insurance law is the practice of law surrounding insurance, including insurance policies and claims. It can be broadly broken into three categories - regulation of the business of insurance; regulation of the content of insurance policies, especially with regard to consumer policies; and regulation of claim handling wise.