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Can a building that has been burned be insured for liability only?
Wiki User
∙ 8y ago
Yes, you can purchase a "monoline" Commercial General Liability policy for a vacant lot if the building has been burned to the ground. If the building is only partially damaged or a significant amount of debris remains at the site, you may have difficulty finding coverage because the undamaged portion of the building may present a hazard insurers would be reluctant to cover.
Wiki User
∙ 8y ago
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What are the essential feature of insurable risk?
A risk cannot be insured until it meets certain conditions.It means that the risk should not be created by the insured himself. That is,If the goods insured have been set of fire by the insured,the insurance company will not be responsible
What is considered a private limited company?
A private limited company is one where the liability of all owners and investors is solely limited to the amount that has been invested in the company or purchased in shares.
What is the difference between Ltd and Inc?
Ltd, which is a limited liability company, is typically smaller than one with Inc., or one that has been incorporated. The liability for each partner in a Ltd organization is more than anyone, including stockholders, in an incorporated entity. In an incorporated company no one is individually liable for any debts, while in an Ltd, the laws are somewhat different depending upon jurisdiction.
What are possible outputs of the close project and phase process?
A PM plan that has been signed off A CD burned with all sign-offs from customer A memo sent to key stakeholders A new matrix diagram created during the project A call center service rolled out
What is Glenhutt Holding Pty Ltd?
Glenhutt Holding Pty Ltd, based in 2065 (New South Wales), has been active since July 1, 2003. There is a possibility this corporate head was started for the pure purpose of avoiding liability to Mathemagic. This is illegal if this is the case. The ABN of this firm is 81 105 679 641, and the ACN is 105679641. This is the registrar of the MathsWorldwide.com.au domain name.
What is the insurance company responsibility to help you when you have an accident and its not your fault and you only have liability?
A liability insurer has two primary duties to an insured who has been sued: (1) a duty to defend; and (2) a duty to indemnify. The duty to defend means that the insurer is obliged, at its own expense, to hire counsel to defend the insured provided that the allegations of the lawsuit come within the ambit of the coverage of the policy. That is, for example, the liability coverage of a homeowner's policy will not be triggered to defend you if you are sued for an automobile collision. If you have not yet been sued, but a claim has been asserted (such as by a demand letter from the aggrieved party), the liability insurer is obliged to investigate the facts of the claim. Most personal liability policies give the insurer the right to settle claims without the consent of the insured, so it may also make a payment to the claimant. The correlative obligation of the insured is to timely notify the insured of all claims made against him/her/it, forward suit papers, and cooperate with both the insurer and the attorney hired to defend the suit. The cooperation includes meeting with the attorney as needed, responding to requests, attending depositions, attending trial, and other activities. The second main obligation of a liability insurer is to indemnify the insured, meaning, to protect him/her/it from financial loss. This involves paying damages for which the insured may be found legally liable (within policy limits). Again, the insurer usually has the right to settle claims when it deems it in its and the insured's best interests to do so. Indeed, the insurer has a specific duty to settle claims within policy limits when it is possible to do so (that is, when the claimant will accept that amount of money in return for a release of the insured of further liability).
Why do you want to join Insurance sector?
as per my observation this is the sector where we need to work because only 0.2% people of india has been insured as compared to America where 75% of population is insured. Moreever the insurance is not only restricted to life insurance its scene has been change we could have insuranc of health,property,liability..etc..
What if someones insurance refuses to pay for the damage his insured caused?
Listen to the explanation. It can be because the insured did not have the specific coverage to pay for your damage. For example, if the other party had collision coverage only on his/her auto policy, it would not pay for your damages because it covers only damage to his/her car. Liability coverage would be needed to pay for your damages. Another reason might be that the other party, especially if insured under a commercial policy, might have a large self-insured retention. This is similar in nature to a deductible, but applies to the liability coverage. The insurer is not obliged to pay until damages exceed the amount of the retention. Yet another reason is that even if the other party did once have liability coverage, it may have been canceled because the personh did not make the required premium payments. The insured is generally required to timely report the collision to his/her insurer so that the insurer can investigate. If there has been no report, or if the insured otherwise fails to cooperate with his/her insurer, coverage may be denied. Finally, the insurer, after investigation, may conclude that its insured did not cause the damage. If so, you will have to decide whether to sue the other party for damages. If the occurrence was one to which the insurance applies, the insurer will generally defend its insured in the suit and pay those damages which the insured is found to be legally liable.
A liability that has been incurred but has not been recorded in the accounts is known as?
An accrued liability
A liability that has been incurred but has not been recorded in the accounts is known as...?
An accrued liability
How much money is The Starry Night insured for?
If it is insured the amount has not been made public.
Has Torah ever been burned by anyone?
Torahs have been burned for centuries.
Will the parents' liability insurance cover a minor child who has not been added to the policy.?
Liability insurance usually follows the vehicle not the driver. (unless the driver was specificly excluded in this case it cant happen because he's your son). As long as the car was insured and he was given premission to drive it, the insurance will be valid in court * Not necessarily. Insurance coverage varies greatly when it pertains to minors living in the household of the insured. If one is lucky enough for it to apply you may be certain that premiums will significantly increase.
What is the difference between marine general liability and commercial general liability?
Liability provides coverage for claims or losses in which you can be held liable for damages or in which you have been accused of being responsible. Comprehensive coverage would also provide coverage for other aspects of your business, such as property, inventory, business autos and equipment, cash flow, etc..
What are the essential feature of insurable risk?
A risk cannot be insured until it meets certain conditions.It means that the risk should not be created by the insured himself. That is,If the goods insured have been set of fire by the insured,the insurance company will not be responsible
What is a clause in a contract that allows you to escape the legal obligation?
When the parties contract with provisions that specify a condition subsequent, the occurence of the condition cuts off liability for performance on and as to its basis. An example would be a requirement in an insurance contract wherein the insured has a limited time in which to file a claim, and thereafter the insurer need not perform, as the condition subsequent has been satisfied, even if the insured files the claim thereafter.
What is the David by Michelangelo insured for?
The amount has not been made public.
