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HIH Casualty and General Insurance Ltd v Chase Manhattan Bank Rix LJ stated, "I am conscious that in Carter v. Boehm itself Lord Mansfield does seem to have considered that there was a difference between the concealment which the duty of good faith prohibited and mere silence (‘Aliud est celare; aliud tacere…).
In 1957, American United Life Insurance Company started posting puns and funny sayings on a signboard in downtown Indianapolis, a tradition that has continued to the present. [ 2 ] In 1982, AUL moved into the AUL Tower , the tallest building completed in Indianapolis at the time.
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.
Insurance is characterized as a business vested or affected with the public interest. [2] Thus, the business of insurance, although primarily a matter of private contract, is nevertheless of such concern to the public as a whole that it is subject to governmental regulation to protect the public’s interests.
The amount of insurance was so large for a man of ordinary means to carry that Hillmon had to go to three different insurance companies to procure four policies totaling $25,000 (one for $10,000 and three for $5,000). [5] In December 1878, Hillmon and Brown set out west for their journey.
Motor Vehicle Manufacturers Association v. State Farm Mutual Automobile Insurance Co., 463 U.S. 29 (1983), commonly known in U.S. administrative law as State Farm, is a United States Supreme Court decision concerning regulations requiring passive restraints in cars.
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As more smokers purchase insurance, costs to insure them increases. [5] In response, the company may increase premiums to correspond to the higher average risk. However, higher prices cause rational non-smokers to cancel their insurance as insurance becomes uneconomic for them, exacerbating the adverse selection problem.