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Subject to the "fortuity principle", the event must be uncertain. The uncertainty can be either as to when the event will happen (e.g. in a life insurance policy, the time of the insured's death is uncertain) or as to if it will happen at all (e.g. in a fire insurance policy, whether or not a fire will occur at all). [4]
Often, limited data is available to determine appropriate charges for high limits of insurance. In order to price policies with high limits of insurance adequately, actuaries may first determine a "basic limit" premium and then apply increased limits factors. The basic limit is a lower limit of liability under which there is a more credible ...
Insurance Business (e.g. pensions, life assurance, home and travel) 90% of the claim with no upper limit. Compulsory insurance is protected in full. Unlimited General insurance advice and arranging (for business conducted on or after 14 January 2005). 90% of the claim with no upper limit. Compulsory insurance is protected in full. Unlimited ...
When you own or run a small business, insurance policies are something you have to think about and handle, even if it is (ideally) an expense you will never use. But if you ever do need to use it ...
Bundles common coverages together into one policy (e.g., business liability insurance, business income insurance and commercial property insurance) General liability insurance
A business owner's policy (also businessowner's policy, business owners policy or BOP) is a special type of commercial insurance designed for small and medium-sized businesses. [1] BOPs are cost-effective and convenient for business owners, as they provide comprehensive protection against common risks like property damage, lawsuits, and income ...
Used in colonial and Federal Era American cases when the defendant is listed first; e.g., "John Doe v. Richard Roe" is labeled "Richard Roe ads. John Doe." The long script "S" of the period often makes this appear as "adj." adj. — see "ad." above. Aff'd – affirmed; AG or A-G – Advocate general (European Union)
[A]n insurer may, under [California] Insurance Code sections 331 and 359, rescind a fire insurance policy based on an insured's negligent or unintentional misrepresentation of a material fact in an insurance application, notwithstanding the willful misrepresentation clause included in the required standard form fire insurance policy (Insurance ...