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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 ...
Anders v. California, 386 U.S. 738 (1967), was a United States Supreme Court case in which a court-appointed attorney filed a motion to withdraw from the appeal of a criminal case because of his belief that any grounds for appeal were frivolous.
Gonzales v. Raich (previously Ashcroft v.Raich), 545 U.S. 1 (2005), was a decision by the U.S. Supreme Court ruling that, under the Commerce Clause of the U.S. Constitution, Congress may criminalize the production and use of homegrown cannabis even if state law allows its use for medicinal purposes.
A basis under which reinsurance is provided for claims arising from policies commencing during the period to which the reinsurance relates. The insurer knows there is coverage during the whole policy period even if claims are only discovered or made later on.
Professional liability insurance (PLI), also called professional indemnity insurance (PII) and commonly known as errors & omissions (E&O) in the US, is a form of liability insurance which helps protect professional advising, consulting, and service-providing individuals and companies from bearing the full cost of defending against a negligence ...
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:
For example, if you do serious damage to your car — say, you back into something large and cause $1,500 of damage. If you have a $500 deductible, you’d really be receiving $1,000 for your auto ...
In law, set-off or netting is a legal technique applied between persons or businesses with mutual rights and liabilities, replacing gross positions with net positions. [1] [2] It permits the rights to be used to discharge the liabilities where cross claims exist between a plaintiff and a respondent, the result being that the gross claims of mutual debt produce a single net claim. [3]