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The Right to Fair Compensation and Transparency in Land Acquisition, Rehabilitation and Resettlement Act, 2013 (also Land Acquisition Act, 2013 or LARR Act [1] or RFCTLARR Act [2]) is an Act of Indian Parliament that regulates land acquisition and lays down the procedure and rules for granting compensation, rehabilitation and resettlement to the affected persons in India.
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. [1]
Insurable value – the value of real property covered by an insurance policy. Generally, it does not include the site value. Liquidation value – may be analyzed as either a forced liquidation or an orderly liquidation and is a commonly sought standard of value in bankruptcy proceedings. It assumes a seller who is compelled to sell after an ...
Since insurance policies are standard forms, they feature boilerplate language which is similar across a wide variety of different types of insurance policies. [1] The insurance policy is generally an integrated contract, meaning that it includes all forms associated with the agreement between the insured and insurer. [2]: 10 In some cases ...
9/11 was a major insurance loss, but there were disputes over the World Trade Center's insurance policy. Insurance policies can be complex and some policyholders may not understand all the fees and coverages included in a policy. As a result, people may buy policies on unfavorable terms.
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 ...
Proponents cite how land acquisition policies by Governments unwittingly encourage rampant land speculation making the projects expensive since huge portion of investment would be need to be allocated for land acquisition costs. [38] According to them, policies of land acquisition gave way to political cronyism where land is acquired cheaply by ...
Indemnity insurance compensates the beneficiaries of the policies for their actual economic losses, up to the limiting amount of the insurance policy. It generally requires the insured to prove the amount of its loss before it can recover. Recovery is limited to the amount of the provable loss even if the face amount of the policy is higher.