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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 ...
Under US law, interpretation of indemnification clauses varies by state. [13] 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 ...
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:
Average clauses can cause problems with claims made during periods of volatility in commodities markets. For example, if crude was being shipped from one part of the world to another, and a partial loss occurred, if its current value had risen, the amount paid out by the insurance company may not cover the value of the contract.
Rational basis review is not a genuine effort to determine the legislature's actual reasons for enacting a statute, nor to inquire into whether a statute does in fact further a legitimate end of government. A court applying rational basis review will virtually always uphold a challenged law unless every conceivable justification for it is a ...
The clause allows the lender to claim insurance funds to restore the home and sell it. ... For example, say you buy a house for $500,000 with a $100,000 down payment and a $400,000 mortgage. To ...
Perhaps the best known case creating an implied cause of action for constitutional rights is Bivens v. Six Unknown Named Agents, 403 U.S. 388 (1971). In that case, the United States Supreme Court ruled that an individual whose Fourth Amendment freedom from unreasonable search and seizures had been violated by federal agents could sue for the violation of the Amendment itself, despite the lack ...
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 ...