Insurance - Law Dictionary Search Results
Home Dictionary Name: insurance Page: 2Unemployment insurance
Unemployment insurance. A scheme of national insurance administered by the Ministry of Labour with power to refer questions to and obtain advice from the Unemployment Insurance Statutory Committee. This committee is appointed after consultation with representative organizations of employers and workers: see the Unemployment Insurance Acts, 1935 and 1936 (25 & 26 Geo. 5, c. 8, and 26 Geo. 5 & 1 Edw. 8, c. 13), and NATIONAL INSURANCE....
Fidelity, fidelity insurance gurantee
Fidelity, fidelity insurance gurantee, 'Fidelity' according to dictionary means faithfulness, loyalty. In insurance terminology it is understood as assurance to indemnify against loss consequent upon the dishonesty or default. Usually the assured and the person whose fidelity is assured stand to each other in relation of employer and employee. As the use of the word 'fidelity' indicates, 'it is a policy intended to protect the assured against the contingency of breach of fidelity on part of a person in whom confidence has been placed'. It is a contract whereby, for a consideration, one agrees to indemnify another against loss arising from the want of honesty, integrity or fidelity of an employee or other person holding a position of trust. Fidelity Guarantee is thus different from contingency guarantee. The insurance under it is for honesty, against negligence or for being faithful and loyal. The protection afforded is different than normal insurance policies. Its consequences and enfo...
Life Insurance Corporation
Life Insurance Corporation, means the Lie Insurance Corporation of India established under section 3 of the Life Insurance Corporation Act. [Small Industries Development Bank of India Act, 1989, s. 2 (ha)]Means the Life Insurance Corporation of India established under the life Insurance Corporation Act, 1956 (31 of 1956). [Income Tax Act, 1961 (43 of 1961), s. 80C]...
Intermediary or insurance intermediary
Intermediary or insurance intermediary, 'intermediary or insurance intermediary', includes insurance brokers, insurance consultants, surveyors and loss assessors. [Insurance Regulatory and Development Authority Act, 1999 (47 of 1999), s. 2(1) (f)]...
Blanket insurance
Blanket insurance, is the insurance under which all of the members of a class or group are covered but are not named; insurance under which property of more than one type or at more than one location is covered, Webster's Dictionary of Law, Indian Edn. (2005), p. 53.Means insurance under which all of the members of a class or group are covered but are not named, Webster's Dictionary of Law, Indian Edn. (2005), p. 53....
Micro-insurance product
Micro-insurance product, includes a general micro-insurance product or life insurable product, pro-posal form and all marketing materials in respect thereof. [Insurance Regulatory and Development Authority (Micro-insurance) Regulations, 2005, R. 2(h)]...
Marine insurance business
Marine insurance business, means the business of effecting contracts of insurance upon vessels of any description, including cargoes, freights and other interests which may be legally insured, in or in relation to such vessels, cargoes and freights, goods, wares, merchandise and property of whatever description insured for any transit by land or water, or both, and whether or not including warehouse risks or similar risks in addition or as incidental to such transit, and includes any other risks customarily included among the risks insured against in marine insurance policies. [Insurance Act, 1938 (4 of 1938), s. 2(13A)]...
Life insurance business
Life insurance business, the definition of 'life insurance business' given in s. 2(11) of the Insurance Act, 1938 clearly includes, by a deeming provision, the business of granting of annuities upon human life within the expression 'life insurance business', Commissioner of Wealth Tax v. Yuvraj Amrinder Singh, AIR 1986 SC 959: (1985) 4 SCC 608: (1985) Supp 3 SCR 565....
inland marine insurance
inland marine insurance : insurance against loss of or damage to property transported in domestic commerce, instrumentalities of transport and communication, and personal property compare marine insurance, ocean marine insurance ...
term insurance
term insurance : insurance in effect for a set term ;specif : term life insurance at life insurance ...
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