The Insured's Duty Of Disclosure Of Limits On Subrogation The possibility that the insurer may successfully pursue a subrogated recovery action does not usually influence him sufficiently to temper his rates of premium or agree contractual terms more beneficial to the insured. Does the insured, then, have to disclose, prior to the conclusion of the contract of insurance, any possible constraints that may adversely impact upon...more
Insurance Contribution - Same Subject Matter Section 32 of the Marine Insurance Act 1906, which in many cases (including contribution) applies both to marine and non-marine insurance, provides that double insurance occurs: "where two or more policies are effected by or on behalf of the assured on the same adventure and interest or any part thereof, and the sums insured exceed the indemnity allowed by this Act.. This takes into...more
Insurance Contribution - Same Form Of Cover The peril or contingency causing the loss must be covered by all the policies in question. One would therefore think that any overlap between the policies would be sufficient to enable the insurers to insist upon their rights of contribution, provided that the insured can make a claim under any of the policies in question. In practice, the English courts have not accepted this logical proposition and take the view that any temporary or coincidental partial overlap of these policies does not necessarily constitute double insurance for the purposes of contribution (Australian Agricultural Co. v. Saunders (1875) LR 10 CB 668). The coverage in each policy must be substantially similar before any rights of contribution can exist. This might be, as a matter of logic, kind of difficult to accept. The purpose of the equitable principle of contribution is to ensure that all insurers whose policies cover the loss in question contribute towards a fair spread of the loss between all insurers who could be asked to indemnify the insured. You might ask yourself why should the fact that it was unintended have any significance? You might...more
Insurance - The Second Condition of Average The second condition of average is not strictly a condition of average at all, because it is essentially a contribution clause which apportions the loss in a particular manner. The key to its application lies in the determination by insurers of which policy is more specific. Clearly, if...more
Tennessee Health Insurance: Will Healthcare Reform Help You Get Coverage? Healthcare reform gives more people access to health insurance in Tennessee as of September 23, 2010. With that protection, hopefully uninsured people will no longer die at frightening higher rates in hospitals than people with insurance.More people will be...more
Insurance Contribution - Introduction One might think it unlikely that an insured would insure the same subject- matter more than once. What would be the point? Premium would be wasted because no gain would be made; the insured could never obtain more than an indemnity for his loss. It is, nevertheless, perfectly lawful for any insured to insure any item or liability as many times as he wishes, despite the fact that the ability of the insured to over-insure may in some cases be an invitation to fraud. However, this possibility is balanced by the fact that the insured is considered to be perfectly entitled to take out insurance with as many insurers as he wishes in order to minimise any problems which he may have should any one insurer become insolvent or otherwise refuse or become unable to pay a valid claim. This right has arisen historically because the statutory provisions relating to over-insurance were formulated at a time when insurance companies were not properly regulated and the possibility not only of insolvency but also of fraud on the part of the insurers was a more common likelihood than is perhaps the case today. It is also possible that an insured...more
Benefits Of Having Nursing Home Insurance For Anyone A fact of life that everyone has to accept is that you will get older some day. Having nursing home insurance is a smart idea for this big reason and you need to also understand the...more
Life Insurance Policy Quotes To Aid One Select The Appropriate Policy Knowing which one is the correct one in your case is important. Do you only be looking for insurance safeguard for your relatives and cherished ones in the event of...more
Do not cancel your spouse's health Insurance During the Divorce in Rhode Island! No. In Rhode Island an automatic Court order enters in every divorce case preventing a spouse from cancelling their spouse from health or dental...more
Are You Looking for the Best Mortgage Term Life Insurance? Mortgage protection life insurance involves using the proceeds of a life insurance policy to pay off the balance of a mortgage or provide income for the monthly mortgage or...more
Looking for the Best iPhone Insurance? At present buying devices like iPhone has become so expensive that the thought of it being damaged or lost is a real nightmare. Some are so accustomed to their iPhone that it has become an...more
The Easy Ideas for Insurance When the shell out ratio, other highlights plus the expense factor could be satisfactory, you will have the ability to strategy to freeze for this certain firm to invest in your car insurance. There's also...more