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Other issues of insurance law may arise when price fixing occurs between insurers, creating an unfair competitive environment for consumers. A notable example of this is where Zurich Financial Services [12] - along with several other insurers - inflated policy prices in an anti-competitive fashion. If an insurer is found to be guilty of fraud ...
An entity which provides insurance is known as an insurer, insurance company, insurance carrier, or underwriter. A person or entity who buys insurance is known as a policyholder, while a person or entity covered under the policy is called an insured. The insurance transaction involves the policyholder assuming a guaranteed, known, and ...
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.
Learn the difference between common car insurance coverage types and how they work. ... For example, you may see $25,000/$50,000 listed under bodily injury on your auto policy. This means you have ...
Uberrima fides is strictly limited in English law to the formation of the insurance contract. [5] During the mid-20th century, American courts expanded it much farther into a post-formation implied covenant of good faith and fair dealing. Violation of that implied covenant came to be seen as a tort, now known as insurance bad faith. [5]
For example, if you let your neighbor drive your car and they get into an accident, your insurance policy will likely cover the damages as if you were the driver of the vehicle.
Invisible Bankers: Everything the Insurance Industry Never Wanted You to Know is a 1982 book on the insurance industry. It was written by the financial journalist Andrew Tobias who became famous for his earlier book The Only Investment Guide You'll Ever Need .
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