Valued Policy - Law Dictionary Search Results
Home Dictionary Name: valued policyValued policy
Valued policy, a policy of insurance in which the sum at which the subject of the policy is insured is expressed (having been fixed by agreement between the parties), and so the value in case of loss need not (as a general rule) be proved, See Arnould on Marine Insurance....
valued policy
valued policy : an insurance policy in which the insurer and insured agree on a stated amount that will be paid in the event of a future loss instead of an amount that would have to be proven as the actual loss ...
valued policy law
valued policy law : a law requiring insurance companies to pay to the insured in case of total loss the full amount of insurance regardless of the actual value of the property at the time of the loss ...
cash surrender value
cash surrender value : the amount of money an insurer will pay the insured upon surrender of a life insurance policy usually calculated as the reserve held by the insurer against the policy less a charge for surrender and any outstanding indebtedness ...
Open policy
Open policy, one in which the value of the ship or goods insured is to be ascertained in case of loss....
Public policy
Public policy, connotes some matter which concerns public good and the public interest. Expression does not admit of precise definition. Concept of 'public policy' is considered to be vague, susceptible to narrow or wider meaning depending upon the content in which it is used, Oil and Natural Gas Corporation Ltd. v. Saw Pipes Ltd., AIR 2003 SC 2629.Public policy, connotes some matter which concerns the public good and the public interest, Central Inland Water Transport Corporation Ltd. v. Broja Nath Ganguly, AIR 1986 SC 1571; Shri Parsar v. Municipal Board, (1997) 1 WLC 443.Public policy, demands that where fraud might have been contemplated but was not perpetrated, the defendants should not be allowed to perpetrate a new fraud. If the illegality of the transaction is trivial or venial and the plaintiff is not required to rest his case upon that illegality, then public policy demands that the defendant should not be allowed to take advantage of the position, Kedar Nath Motani v. Prahla...
Public policy, opposed to public policy
Public policy, opposed to public policy, from the very nature of things, the expressions 'public policy', 'opposed to public policy', or 'contrary to public policy' are incapable of precise definition. Public policy, however, is not the policy of a particular government. It cannotes some matter which concern the public good and the public interest. The concept of what is for the public good or in the public interest or what would be injurious or harmful to the public good or the public interest has varied from time to time. As new concepts take the place of old, transactions which were once considered against public policy are now being upheld by the courts and similarly where there has been a well recognized head of public policy, the courts have not shirked from extending it to new transactions and changed circumstances and have at times not even flinched from inventing a new head of public policy. Practices which were considered perfectly normal at one time have today become obnoxio...
Renewal of insurance policy
Renewal of insurance policy, a renewal of an insurance policy means repetition of the original policy. When renewed, the policy is extended and the renewed policy in identical terms from a different date of its expiration comes into force. In common parlance, by renewal, the old policy is revived and it is sort of a substitution of obligations under the old policy unless such policy provides otherwise, Biman Krishna Bose v. United India Insurance Co. Ltd., (2001) 6 SCC 477 (482)....
Policy of insurance
Policy of insurance, a contract between A. and B., that upon A.'s paying a premium equivalent to the hazard run, B. will indemnify or insure him against a particular event. See INSURANCE.The (English) Policies of Assurance Act, 1867, enabled assignees of life policies to sue thereon in their own names. The (English) Policies of Marine Assurance Act, 1868, made a like provision in regard to marine policies. See also CHOSE.It includes:(a) any instrument by which one person, in consideration of a premium, engages to indemnify another against loss, damage or liability arising from an unknown or contingent event.(b) a life-policy, and any policy insuring any person against accident or sickness, and any other per-sonal insurance. [Indian Stamp Act, 1899 (2 of 1899), s. 2 (19); Rajasthan Stamp Act, 1999, s. 2(27)]...
claims made policy
claims made policy : an insurance policy providing coverage only for claims that are filed during the policy period called also discovery policy compare occurrence policy ...
- << Prev.
- Next >>
Sign-up to get more results
Unlock complete result pages and premium legal research features.
Start Free Trial