Insurance Limitation - Law Dictionary Search Results
tender
offer as an amount in settlement of a claim by an injured party against an insured NOTE: An insurance company might be obligated to tender the limits of a policy to an injured party when a higher … claim by an injured party against an insured NOTE: An insurance company might be obligated to tender the limits of a policy to an injured party when a higher amount is likely to be awarded at trial.
Employment injury
accident occurs or the occupational disease in contracted within or outside the territorial limits of India. [Employee's State Insurance Act, 1948, (34 of 1948, s. 2(8)] … an insurable employment, whether the accident occurs or the occupational disease in contracted within or outside the territorial limits of India. [Employee's State Insurance Act, 1948, (34 of 1948, s. 2(8)]
reciprocal exchange
which members (as individuals, partnerships, trustees, or corporations) exchange contracts and pay premiums through an attorney-in-fact for the insurance of each other [liability of each member of the reciprocal exchange was limited to ten times the annual … through an attorney-in-fact for the insurance of each other [liability of each member of the reciprocal exchange was limited to ten times the annual premium] called also interinsurance exchange reciprocal insurance exchange reciprocal interinsurance exchange
Keep your definitions linked to case research
suicide clause
suicide clause : a provision limiting the liability of an insurer to a return of net premiums paid if an insured commits suicide within a stipulated period … suicide clause : a provision limiting the liability of an insurer to a return of net premiums paid if an insured commits suicide within
sublimit
sublimit : a liability limit in an insurance policy for a particular risk (as loss of jewelry by theft) that is below the aggregate liability limit … sublimit : a liability limit in an insurance policy for a particular risk (as loss of jewelry by theft) that is below the
In all
legislative ambiguities, unfortunately not receding, that Courts have to fill gaps, clear doubts and mitigate hardships, Motor Owners' Insurance Company Limited v. Jadavji Keshavji Modi, AIR 1981 SC 2059: (1981) 4 SCC 660: (1982) 1 SCR 860. … unfortunately not receding, that Courts have to fill gaps, clear doubts and mitigate hardships, Motor Owners' Insurance Company Limited v. Jadavji Keshavji Modi, AIR 1981 SC 2059: (1981) 4 SCC 660: (1982) 1 SCR 860. [Motor Vehicles
settlement
the sum, estate, or income granted or paid under a settlement [if the monetary limits of a defendant's insurance policy can be discovered in order to obtain reasonable s "J. H. Friedenthal et al."] 3 : closing … or conveyance c : the sum, estate, or income granted or paid under a settlement [if the monetary limits of a defendant's insurance policy can be discovered in order to obtain reasonable s "J. H. Friedenthal et
Bailee
s. 148) Where in an accident the Insured dealt with vehicle strictly as provided under the contract of insurance and that necessitated taking the car to the nearest repairer for and on behalf of the Insurer. The … the custody of the repairer is that of a sub-bailee, N.R. Srinivasa Iyer v. New India Assurance Company Limited, AIR 1983 SC 899: (1983) 3 SCC 458 (467). Means an individual or entity (as a business organization)
loss
be suffered as a result of an act or event actual total loss : a loss in marine insurance in which the property (as a vessel or cargo) cannot be repaired or recovered compare constructive total loss … from adjusted gross income under section 165 of the Internal Revenue Code. There are, however, numerous exceptions and limitations. actual loss : the identifiable and calculable monetary detriment that is suffered or will be suffered as a
Friendly societies
their husbands, wives, children, etc., in old age or sickness, the endowment of members at any age, the insurance of tools against fire, or of cattle, for working men's clubs, or for any other purpose authorized by … specified period, and to validate certain endowment policies. As to the conversion of a Friendly Society into a limited company, see Re Blackburn, etc., Society, (1914) 2 Ch 430; Companies (Converted Societies) Act, 1910, which was passed,
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