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Tort insurance vs no-fault insurance. States fall into two main categories when it comes to car insurance: at-fault/tort states or no-fault states. The majority of the states in the country apply ...
Full tort and limited tort automobile insurance options were instituted by the state of Pennsylvania in an attempt to decrease the number of pain and suffering lawsuits in Pennsylvania courts. Concerned about the high rates of automobile insurance, Pennsylvania enacted mandatory personal injury protection (PIP) insurance coverage in the attempt ...
Workers' compensation or workers' comp is a form of insurance providing wage replacement and medical benefits to employees injured in the course of employment in exchange for mandatory relinquishment of the employee's right to sue his or her employer for the tort of negligence. The trade-off between assured, limited coverage and lack of ...
For example, the Insurance Services Office standard general liability form has a section providing this coverage. [30] Some home insurance policies include personal injury coverage. [31] Despite the general distinction between bodily injury and personal injury in insurance contracts, auto insurance known as personal injury protection (PIP) does ...
The most common examples of statute liability are in areas where an individual is required by law to effect insurance, e.g. workers' compensation and motor vehicle compulsory third party. Property, hotel and operations managers should become familiar with the various types of contracts involved in commercial and retail activities.
Assigned risk is a government-required method of providing insurance coverage to an individual by compelling insurance companies to service them when such companies would ordinarily not do so due to perceived risk of insuring the individual as a customer.
No-fault systems generally exempt individuals from the usual liability for causing bodily injury if they do so in a car collision; when individuals purchase "liability" insurance under those regimes, the insurance covers bodily injury to the insured party and their passengers in a car collision, regardless of which party would be liable under ordinary legal tort rules.
Most liability insurance policies provide for coverage of negligently inflicted injuries but exclude coverage of intentionally inflicted injuries. If a victim is intentionally injured by a person, many theorists perceive that the victim will tend to recast the claim as being one for negligence in order to fall within the coverage of the ...