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Insurance regulatory law is primarily enforced through regulations, rules and directives by state insurance departments as authorized and directed by statutory law enacted by the state legislatures. However, federal law, court decisions and administrative adjudications also play an important role. [1]
Insurance law is the practice of law surrounding insurance, including insurance policies and claims. It can be broadly broken into three categories - regulation of the business of insurance; regulation of the content of insurance policies, especially with regard to consumer policies; and regulation of claim handling wise.
Stranger-originated life insurance ("STOLI") generally means any act, practice, or arrangement, at or prior to policy issuance, to initiate or facilitate the issuance of a life insurance policy for the intended benefit of a person who, at the time of policy origination, does not have an insurable interest in the life of the insured under the laws of the applicable state. [1]
To obey the letter of the law is to follow the literal reading of the words of the law, whereas following the spirit of the law is to follow the intention of why the law was enforced. Although it is usual to follow both the letter and the spirit, the two are commonly referenced when they are in opposition.
Life insurance (or life assurance, especially in the Commonwealth of Nations) is a contract between an insurance policy holder and an insurer or assurer, where the insurer promises to pay a designated beneficiary a sum of money upon the death of an insured person.
Car insurance can be complicated, since a policy may contain multiple types of coverage and have rules regarding who is covered and in what cases the auto insurance covers the car or the driver.
In insurance, the insurance policy is a contract (generally a standard form contract) between the insurer and the policyholder, which determines the claims which the insurer is legally required to pay. In exchange for an initial payment, known as the premium, the insurer promises to pay for loss caused by perils covered under the policy language.
Rules about sex have been complicated for a number of MomTokers. Taylor talks about being pressured into marriage with ex-husband Tate Paul after her parents learned they were having premarital sex.