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Does increased cost of construction insurance clause affect the co-insurance clause of the policy?
NO, Increased Cost of Construction is exactly as stated, also known as "Replacement Cost". It does not affect the Coinsurance clause of your insuring contract
Why a insurance operative clause?
An insurance operative clause is essential because it defines the specific conditions under which coverage is provided. It outlines the scope of protection, detailing what risks are covered and any exclusions that may apply. This clarity helps both the insurer and the insured understand their rights and obligations under the policy, ensuring effective claims processing and risk management. Ultimately, it serves to create transparency and trust in the insurance contract.
What is the operative clause?
The Operative clause in an insurance policy sets outs the circumstances that must be present before an insurance company will pay out any claims to insured parties. This clause is therefore very important as it forms the essence of the policy contract and details the scope of the cover. The Operative clause will stipulate the insurer's obligations; one can refer to it as the insurance company's promise to the insured. It will include words to the effect of "subject to the terms, conditions, limitations and exclusions set out in the policy, and upon prior receipt of the premium, the insurer undertakes to indemnify the insured against any loss or damage in case of the occurrence of an Insured Event." The insured event in the case of car insurance could be the car being stolen or damage suffered after an accident. It will also set out the insured parties obligations in terms of the contact, including the payment of the premiums on the specified times. In insurance the onus is on the insured to provide proof that a loss did take place, following the general rule of the law of evidence and procedure. This rule is applied throughout the policy, including in the operative clause.
What is operative clause?
The Operative clause in an insurance policy sets outs the circumstances that must be present before an insurance company will pay out any claims to insured parties. This clause is therefore very important as it forms the essence of the policy contract and details the scope of the cover. The Operative clause will stipulate the insurer's obligations; one can refer to it as the insurance company's promise to the insured. It will include words to the effect of "subject to the terms, conditions, limitations and exclusions set out in the policy, and upon prior receipt of the premium, the insurer undertakes to indemnify the insured against any loss or damage in case of the occurrence of an Insured Event." The insured event in the case of car insurance could be the car being stolen or damage suffered after an accident. It will also set out the insured parties obligations in terms of the contact, including the payment of the premiums on the specified times. In insurance the onus is on the insured to provide proof that a loss did take place, following the general rule of the law of evidence and procedure. This rule is applied throughout the policy, including in the operative clause.
How mistakes affect the validity of a contract?
For a mistake to affect the validity of a contractit must be an "operative mistake", ie, a mistakewhich operates to make the contract voidhttp://detoxmatters.com/
What is the first section of a book that begins with P?
The answer is the preface. A prologue is the introductory or prefatory section of a novel.
What does intra-operative phase mean in medical terms?
The intra-operative phase is the part that happens during the surgery, rather than pre-operative (before) or post-operative (after).
What is the prefatory parts?
The prefatory parts of a document typically include sections such as the introduction, preface, and acknowledgments. These sections set the stage for the main content by providing context, outlining the purpose, and expressing gratitude to those who contributed to the work. They help orient the reader and convey the author's intentions and motivations behind the writing.
Who owns co-operative?
The members of the co-operative own it.
When was Operative Media created?
Operative Media was created in 2000.
The clause in the Constitution that gives Congress the power to regulate all business activities that cross state lines or affect more than one state or other nations is known as the?
commerce clause
What has the author J D Hamilton Jamieson written?
J. D. Hamilton Jamieson has written: 'Aids to operative dentistry' -- subject(s): Dentistry, Operative, Operative Dentistry 'Operative dentistry'
