| Insurer Insolvency Proceedings |
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| The insurance industry is heavily regulated in order to protect insureds, creditors of insurers, and the general public. Such protection is needed due to the potential for insurers to become insolvent. Extensive statutes have been enacted in relation to the operation and solvency of insurers. Their provisions relate to the types of proceedings that may be initiated in response to an insurer's financial difficulties. Such proceedings include summary and delinquency proceedings.More... |
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| Unconscionability |
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| An insurance policy, like every other type of contract, imposes upon each party an implied duty of good faith and fair dealing in its performance and its enforcement. This duty requires the insurer and the insured to perform so as not to impair or destroy the right of the other to receive the benefit of the agreement. The duty also incorporates the concept of avoiding "unconscionability" in executing the policy.More... |
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| Insurance Law> General Liability Insurance> Harm Exclusions |
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| (The CGL Policy Exclusion for Expected or Intended Injury)More... |
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| Insurance Agents' Acts Binding on Insurer |
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| In order for an insurer to be bound by a misrepresentation of an agent, an insured usually needs to show the nature of the misrepresentation, the insured's reasonable reliance on the misrepresentation, and the prejudice to the insured if the insurer could deny the effect of the misrepresentation. As long as the reliance is reasonable, the insurer may be liable even if there is contrary language in the policy. More... |
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| Types of Adjusters |
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| When an insured files a claim with his insurer to recover for a loss, the insurer may pay the amount requested without question, or it may begin the "adjustment" process. This is the process by which the claim is resolved. Various types of "adjusters" may assist in the adjustment process. More... |
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