| The Meaning of an Insurance Binder |
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| A binder in the insurance industry is a temporary agreement of the insurance company to provide coverage while it seeks to issue a policy based upon the representations made in the application for insurance. The binder may be issued by an insurance agent or an insurance company. More... |
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| Hit and Run Accidents |
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| A motorist involved in a vehicular accident is required to stop and assist injured persons. He should also provide his insurance information to the other driver. In hit and run accidents, the hit and run driver usually fails to stop because he is an uninsured motorist (UM) or his insurance is nullified by his tortious or criminal actions. More... |
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| The Workers' Compensation Exclusion in the Comprehensive General Liability Policy |
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| A business may purchase a comprehensive general liability or CGL policy to provide insurance against liabilities of the business for personal injury or property damage suffered by third parties and caused by the business. The usual form CGL policy has numerous exclusions, including Exclusion D -- Workers Compensation and Other Laws. More... |
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| Insurable Interest |
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| A beneficiary may procure insurance upon the life of an insured only if he has an insurable interest in that insured's life. The determination of whether the beneficiary has an insurable interest depends upon the nature of the relationship between the beneficiary and the insured. If the beneficiary has a valid, insurable interest, he may recover the insurance proceeds upon the insured's death. If he does not, however, the insurer may plead a lack of insurable interest and avoid liability on the policy. More... |
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| The CGL Policy Exclusion for Damage to the Insured's Property |
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| The standard comprehensive general liability policy insures a business against liability arising from personal injury or property damage suffered by a third party. Various exclusions are included in the CGL policy, including Exclusion J -- Damage to Property, that are designed to limit coverage to third party injury or damage. More... |
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