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Insurance Policy - Law Dictionary Search Results

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Piracy

passengers have been first placed in safety. As to the meaning of 'piracy' in a policy of marine insurance, see Bolivia Republic v. Indemnity Mutual Insurance Co., (1909) 1 KB 785. Means the unauthorised use, interception, or

Stranding

of a ship onshore or on a beach. By reason of the memorandum always inserted in policies of insurance (see INSURANCE), it is of the greatest importance to define what is a stranding. On this much diversity … the running of a ship onshore or on a beach. By reason of the memorandum always inserted in policies of insurance (see INSURANCE), it is of the greatest importance to define what is a stranding. On this

Accident occasioned by negligence

that a person of ordinary prudence would not have taken precautions to prevent its occurrence. In policies of insurance against accident the meaning of 'accident' depends on the context, but includes results brought about by the negligence … such circumstances that a person of ordinary prudence would not have taken precautions to prevent its occurrence. In policies of insurance against accident the meaning of 'accident' depends on the context, but includes results brought about by

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standard mortgage clause

standard mortgage clause : a mortgage clause that is usually considered to form a separate contract between the insurer and mortgagee under which the mortgagee can collect payment even if the policy is void or voidable with

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

replacement

replacement 1 a : the act of replacing : the state of being replaced b : an insurer's option under a policy to replace or repair damaged property rather than pay the insured for the loss

Known-loss doctrine

Known-loss doctrine, means a principle denying insurance coverage when the insured known before the policy takes effect that a specific loss has already happened or

policyholder

policyholder : the owner of an insurance policy called also policyowner compare subject

Rider

as, for example, a recommendation to mercy. An attachment to some document, such as legislative bill or an insurance policy, that amends or supple-ments the document, Black's Law Dictionary, 7th Edn., p. 1322

entitlement

Law Journal"] 2 : a right to benefits that is granted esp. by law or contract (as an insurance policy) NOTE: Some courts have held that entitlements are a property interest and therefore subject to procedural due process

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