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What else can I help you with?
Claims made policy?
"Claims Made Policy" - The Insured is indemnified in case a claim arises during the policy period, no matter when a claim may arise, the Policy pays the insured for the Claim, provided the policy is active since its retroactive date(inception date).
Implication of underinsurance in an economy?
low premiums to the insurer hence low funds for investment and also the insured is not fully covered in the event of a loss he is not fully indemnified
What are the key differences in responsibilities between the indemnifying party and the indemnified party in a contractual agreement?
In a contractual agreement, the indemnifying party is responsible for covering any losses or damages incurred by the indemnified party due to certain specified events or circumstances. The indemnified party, on the other hand, is the one who receives this protection and is entitled to seek compensation from the indemnifying party if such losses occur.
Who is the indemnified party in the contract and what protections are provided to ensure their rights are safeguarded?
The indemnified party in a contract is the party who is protected from financial loss or damage. Protections provided to ensure their rights are safeguarded include clauses that specify the extent of indemnification, the circumstances under which it applies, and the process for making a claim.
What is a marine insurance policy?
It is a contract between insurer and insured where by the insurer undertakes to indemnified the insured in a manner and to the interest there by agreed against marine losses incident to marine adventure. According to section 2 (13) A of the insurance act 1938 defines Marine insurance as " the business of effecting contracts of insurance upon vessels (ship) of any description, including cargo's freights and other interests which may be legally insured in or in relation to such vessels, cargo's and freights, goods, wares, merchantiles and property of whatever description insured for any transits by land or water or both ".
Can you be indemnified by a company who asks you to post copyright material without securing the rights?
It depends on specific policies that may be in place, language in your contract, and more.
Is there an insurance company that will not pay out if i claim?
An insurance contract is an agreement between the insurer and the insured. By its terms, in return for the payment of a premium by the insured, the insurer agrees to pay on behalf of the insured, certain damages for which the injured may be legally liable. The insurer may have other obligations, too, such as to provide a defense (hire a lawyer and pay related expenses) on behalf of the insured. It is important to understand that both the insurer's and the insured's obligations are specified in the policy. Therefore, if there is an occurrence that falls outside of the undertakings of the contract, the policy will not provide coverage. An example of this is that an auto insurance policy does not provide coverage for damage to furniture caused by a house fire. Likewise, if the insured has not paid premiums as agreed and the policy lapsed before a covered occurrence happened, the insurer may properly deny coverage because the policy was not in force at the time of the occurrence. There are other circumstances under which an insurer may be within its rights not to pay. Just what those circumstances are depend upon the kind of insurance involved and the facts of the dispute.
What is meant by other insured on the claim form?
The term "other insured" is another insured person exists who may cover the patient, the insured person who covers the patient on his or her insurance plan.
Who is liable for paying the home owners insurance deductible?
the insured or homeowner, unless there are some ''special'' circumstances you haven't explained
What would decrease an asset?
Apart from depreciation, there can be unforeseen circumstances (or act of God instances). These can include: fire, floods etc. Usually these assets are insured and therefore only a % is lost. If they are not insured, the complete asset is lost.
Can you give a sentence for the word indemnify?
I returned my awful Christmas gifts to the store and was indemnified.
Does State Farm waive deductible if accident with another State Farm insured?
Yes, State Farm may waive the deductible if you are involved in an accident with another driver who is also insured by State Farm. This typically falls under the company's "deductible waiver" provision, which can apply in certain circumstances when both parties are insured by the same company. However, specific eligibility requirements and conditions may vary, so it's best to contact State Farm directly for details related to your particular situation.
