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The rule spells out four exceptions to the rule of inadmissibility: evidence of a party's ownership of liability insurance—or of a party's failure to own liability insurance—is admissible to prove (1) a witness' bias or prejudice, i.e. for witness impeachment; (2) agency; (3) ownership; and (4) control.
A war exclusion clause or hostile acts exclusion is a common clause in insurance policies which excludes damage arising from a warlike act between sovereign or quasi-sovereign entities. [ 1 ] [ 2 ] [ 3 ] Insurance companies typically won't cover damages caused by war because such an event could cause damage that would be likely to bankrupt them ...
Limitation clause: The clause places a limit on the amount that can be claimed for a breach of contract, regardless of the actual loss. Time limitation : The clause states that an action for a claim must be commenced within a certain period of time or the cause of action becomes extinguished.
The main exception is in insurance bad faith cases in the US if the insurer's breach of contract is alleged to be so egregious as to amount to a breach of the "implied covenant of good faith and fair dealing", and is therefore considered to be a tort cause of action eligible for punitive damages (in excess of the value of the insurance policy). [a]
The parol evidence rule is a rule in common law jurisdictions limiting the kinds of evidence parties to a contract dispute can introduce when trying to determine the specific terms of a contract [1] and precluding parties who have reduced their agreement to a final written document from later introducing other evidence, such as the content of oral discussions from earlier in the negotiation ...
Many life insurance policies include a “suicide clause,” which typically states that if the policyholder dies by suicide within a certain period after the policy is issued — usually within ...
Directors and officers liability insurance (also written directors' and officers' liability insurance; [1] often called D&O) is liability insurance payable to the directors and officers of a company, or to the organization itself, as indemnification (reimbursement) for losses or advancement of defense costs in the event an insured suffers such a loss as a result of a legal action brought for ...
Bankrate’s insurance editorial team analyzed 2024 auto insurance rates and found that the three cheapest states for full coverage car insurance include Vermont ($1,347 per year), Idaho ($1,416 ...