Learn about the divisible contract clause in property insurance and understand how coverage remains unaffected when policy conditions are violated at different locations.
Understand the power designated to an agent by an insurance company, a critical component in general insurance terms.
Discover the concept of negligence within general insurance terms. Learn how a failure to exercise reasonable care can have legal implications in various circumstances.
Gain insight into the concept of estoppel in legal terminology. Learn how behavior can influence the ability to deny the existence of a condition in legal contexts, using examples from health insurance claims.
Understand the importance of material facts in insurance. Learn how misrepresentation of a material fact can impact policy decisions and potentially void an insurance policy.
Learn about the stacking of limits in insurance, a legal term that involves using the limits of multiple policies to cover a single claim or event. Understand when and how this can be applied.
Discover what an Extended Reporting Period (ERP) is in liability insurance, and learn how it allows you to make claims even after your "claims made" coverage has expired.
Learn about mysterious disappearance coverage in insurance, explaining how it differs from named perils like robbery and its implications for property disappearance cases that remain unexplained.
Learn about the subrogation clause in general insurance, which enables insurers to take action against liable third parties to recover losses paid out. Discover its function and implications for both insurers and policyholders.
Understand File and Use Rating Laws, state regulations that allow insurers to implement new rates without obtaining prior approval from the insurance department. Discover its implications in the insurance industry.
Understand Public Law 15, a crucial 1945 Congressional Act that exempts insurance from federal anti-trust laws provided state regulation. Learn its impact on the insurance industry.
Learn about defamation, a legal term for statements intended to damage a person’s reputation or business, particularly within the insurance industry. Explore its impact and legal consequences.
Learn about the concept of power of attorney within the insurance domain, including its definition, importance, and how it empowers individuals or corporations to make legal decisions for others.
Explore the concept of concurrent causation in general insurance. Understand how losses involving multiple events can affect coverage, including scenarios where one event is covered and another is not.
Learn about fictitious groups in insurance, which are fabricated entities created to purchase insurance, and are prohibited by law.
