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In many cases, at least in the United States, a home warranty is not a warranty at all, but rather a home service contract that covers the repair and/or replacement costs of home appliances, major systems such as heating and cooling, and possibly other components of a home, structural or otherwise. Coverage varies significantly across home ...
An 18th-century fire insurance contract. Property insurance can be traced to the Great Fire of London, which in 1666 devoured more than 13,000 houses.The devastating effects of the fire converted the development of insurance "from a matter of convenience into one of urgency, a change of opinion reflected in Sir Christopher Wren's inclusion of a site for 'the Insurance Office' in his new plan ...
The Hartford Steam Boiler Inspection and Insurance Company (HSB) is a global specialty insurer and reinsurer headquartered in Hartford, Connecticut.It was founded in 1866 and is the largest provider of equipment breakdown insurance and related inspection services in North America serving over five million commercial locations.
DIC insurance is commonly used by business owners, especially those with large-scale operations or expensive corporate buildings, to bridge the gap in coverage from their standard insurance policies.
In contrast with damages (the law of compensation), restitution is a claim or remedy requiring a defendant to give up benefits wrongfully obtained. Liability for restitution is primarily governed by the "principle of unjust enrichment": A person who has been unjustly enriched at the expense of another is required to make restitution.
In insurance law, it refers to a promise by the purchaser of an insurance about the thing or person to be insured. [ 3 ] In contract law, a warranty is a contractual assurance given, typically, by a seller to a buyer, [ 4 ] for example confirming that the seller is the owner of the property being sold. [ 5 ]
Typically, claims due to floods or war (whose definition typically includes a nuclear explosion from any source) are excluded from coverage, amongst other standard exclusions (like termites). Special insurance, including flood insurance, can be purchased for these possibilities. Insurance is adjusted to reflect the replacement cost, usually ...
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