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The term Bermuda Form refers to various types of insurance policy.. In the 1980s, American companies found it increasingly difficult to buy large amounts of casualty (liability) insurance, partly because American courts interpreted policies in ways which gave coverage to policyholders which was wider than the insurers had anticipated, causing insurers large losses particularly in relation to ...
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 ...
In contract law, a forum selection clause (sometimes called a dispute resolution clause, choice of court clause, governing law clause, jurisdiction clause or an arbitration clause, depending upon its form) in a contract with a conflict of laws element allows the parties to agree that any disputes relating to that contract will be resolved in a specific forum.
In contract law, a choice of law clause or proper law clause [1] is a term of a contract in which the parties specify that any dispute arising under the contract shall be determined in accordance with the law of a particular jurisdiction. [2] It determines the controlling law: the state which will be relied upon in settling disputes. An example ...
The Convention on the Law Applicable to Contractual Obligations 1980, also known as the Rome Convention, is a measure in private international law or conflict of laws which creates a common choice of law system in contracts within the European Union. The convention determines which law should be used, but does not harmonise the substance (the ...
The law of contracts varies from state to state; there is nationwide federal contract law in certain areas, such as contracts entered into pursuant to Federal Reclamation Law. The law governing transactions involving the sale of goods has become highly standardized nationwide through widespread adoption of the Uniform Commercial Code .
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, however, supplementary writings such as letters sent after the final agreement can make the insurance policy a non-integrated contract.
An enacting clause is a short phrase that introduces the main provisions of a law enacted by a legislature.It is also called enacting formula or enacting words. [1] It usually declares the source from which the law claims to derive its authority.