There are different rules apply to different classes of insurance about existence of
insurable interest.
* Of the 30 countries reviewed, GDPR fines were
insurable in only two--Finland and Norway.
if the risk is deemed to be "not
insurable," this Department shall notify the applicant and advise the reasons therefore, The applicant may reapply when the physical deficiencies are corrected, and he shall be so advised,
Many serious risks like divorce, business co-owner disputes, and employment wages are not
insurable. For the events that are
insurable, there are exclusions, exceptions, and limitations on all policies.
Things could change in the future, as the law in this area is under review, with a proposal that the relationship between cohabiting couples is recognised in the same way as those who are married for the purpose of determining whether there is "
insurable interest".
When an insurer settles a hazard claim for
insurable damage to a dwelling, the adjuster assigned the loss will prepare a scope of work (also referred to as the adjuster's estimate or scope of loss).
Heterogeneity is so great that any effort to divide the population into groups of
insurable, homogenous units eliminates the possibility of large enough numbers to develop statistical tables.
Motor third party liability insurance numbered 16233
insurable events, CASCO - 809 events.
Last year saw a single incident where the number of
insurable fatalities was higher than 150, and no claim was valued at more than $50 million.
*
Insurable interest is what transforms a policy from an instrument of wager to protection against loss.
A Kansas district court ruled that an ex-spouse did not have an
insurable interest in the life of her former husband because he objected to her attempts to obtain life insurance on his life pursuant to a court order, and that obtaining this insurance against his will was against public policy.
Marsh clients with 25% or more of their total
insurable value in earthquake or wind zones, also known as catastrophe exposure, saw greater increases than average.
In particular, this Article focuses on the amendments relating to
insurable interest, the insured's duty of disclosure, interpretation of contractual clauses, double insurance, and insurance fraud.
Price Dawe 2006 Insurance Trust Insurance Company, the court has affirmed the common law ability of a legally insured person or
insurable trust to sell a policy on that person's life for market value --provided that procurement of the policy is not part of a straw purchase pursuant to a prior agreement to resell to an investor, and that the procurement is not part of an illegal wager in which a third party directly or indirectly pays the premiums.
The Monetary Authority of Singapore (MAS) has said that it will proceed with plans to expand its deposit insurance coverage scheme by raising the
insurable deposit amount for depositors.
