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Third-party fidelity bonds protect businesses against intentionally wrongful acts committed by people working for them on a contract basis (e.g., consultants or independent contractors). In business partnerships, it is the responsibility of the business working as a contractor or subcontractor to carry third-party fidelity bond coverage, though ...
The company was primarily formed to write individual life insurance and annuity products. Until June 1, 1995, the company was a wholly owned subsidiary of United States Fidelity and Guaranty Company ("USF&G Company"), a Maryland-domiciled property and casualty insurer. USF&G Corporation, a Maryland-domiciled insurance holding company, was the ...
Claims and loss handling is the materialized utility of insurance; it is the actual "product" paid for. Claims may be filed by insureds directly with the insurer or through brokers or agents. The insurer may require that the claim be filed on its own proprietary forms, or may accept claims on a standard industry form, such as those produced by ...
It may include marine insurance for shipwrecks or losses at sea, fidelity and surety insurance, earthquake insurance, political risk insurance, terrorism insurance, fidelity and surety bonds. One of the most common kinds of casualty insurance today is automobile insurance. In its most basic form, automobile insurance provides liability coverage ...
The economic value of bond insurance to the governmental unit, agency, or other issuer of the insured bonds or other securities is the result of the savings on interest costs, which reflects the difference between yield payable on an insured bond and yield payable on the same bond if it was uninsured—which is generally higher.
Fidelity National Financial, Inc. (NYSE: FNF), is an American provider of title insurance and settlement services to the real estate and mortgage industries. A Fortune 500 company, [ 1 ] Fidelity National Financial generated approximately $8.469 billion in annual revenue in 2019 from its title and real estate-related operations.
Directors and officers liability insurance (also written directors' and officers' liability insurance; [1] often called D&O) is liability insurance payable to the directors and officers of a company, or to the organization itself, as indemnification (reimbursement) for losses or advancement of defense costs in the event an insured suffers such a loss as a result of a legal action brought for ...
A warranty is a term of a contract, but not usually a condition of the contract or an innominate term, meaning that it is a term "not going to the root of the contract", [6] and therefore only entitles the innocent party to damages if it is breached, [6] i.e. if the warranty is not true or the defaulting party does not perform the contract in ...