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  2. Insurance policy - Wikipedia

    en.wikipedia.org/wiki/Insurance_policy

    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.

  3. What is a mortgagee clause? - AOL

    www.aol.com/finance/mortgagee-clause-190100413.html

    Key takeaways. Many mortgage lenders require borrowers to have a homeowners insurance policy with a mortgagee clause. The mortgagee clause is a provision that protects the lender from financial ...

  4. Adjustment clause - Wikipedia

    en.wikipedia.org/wiki/Adjustment_clause

    In insurance, an adjustment clause in a contract specifies how the amount of a claim (particularly a claim against an insurance company) will be determined for the purposes of a settlement, giving consideration to objections made by the debtor or insurance company, as well as the allegations of the claimant in support of his claim. For example:

  5. Loss payee clause - Wikipedia

    en.wikipedia.org/wiki/Loss_payee_clause

    The clauses are found in maritime insurance in relation to insuring mortgaged vessels. When selling land via a land contract , the seller may require the buyer to include a loss payee clause in their insurance policy to protect the seller's ongoing interest in the property until the contract is concluded.

  6. Indemnity - Wikipedia

    en.wikipedia.org/wiki/Indemnity

    For example, in California indemnification clauses do not cover certain risks unless the risks are listed in the contract, but in New York, the brief clause, "X shall defend and indemnify Y for all claims arising from the Product" makes X responsible for all claims against Y. [13] Indemnity can be extremely costly since X's liability insurance ...

  7. Insurance law - Wikipedia

    en.wikipedia.org/wiki/Insurance_law

    An insurance contract is a contract of the utmost good faith. The most important expression of that principle, under the doctrine as it has been interpreted in England, is that the prospective insured must accurately disclose to the insurer everything that he knows and that is or would be material to the reasonable insurer.

  8. Contractual terms in English law - Wikipedia

    en.wikipedia.org/wiki/Contractual_terms_in...

    whether terms are implied into the contract; what controls are placed on unfair terms; The terms of a contract are the essence of a contract, and tell the reader what the contract will do. For instance, the price of a good, the time of its promised delivery and the description of the good will all be terms of the contract.

  9. Does auto insurance follow the car or the person?

    www.aol.com/finance/does-auto-insurance-car...

    Car insurance can be complicated, since a policy may contain multiple types of coverage and have rules regarding who is covered and in what cases the auto insurance covers the car or the driver.