Motor Insurance

Alaska: A person who knowingly and with intent to injure, defraud, or deceive an insurance company files a claim containing false, incomplete, or misleading information may be prosecuted under state law. Arizona: For your protection Arizona law requires the following statement to appear on this form. Any person who knowingly presents a false or fraudulent claim for payment of a loss is subject to criminal and civil penalties. Arkansas: Any person who knowingly presents a false or fraudulent claim for payment of a loss or benefit or knowingly presents false information in an application for insurance is guilty of a crime and may be subject to fines and confinement in prison. California: For your protection California law requires the following to appear on this form: Any person who knowingly presents false or fraudulent claim for the payment of a loss is guilty of a crime and may be subject to fines and confinement in state prison. Colorado: It is unlawful to knowingly provide false, incomplete, or misleading facts or information to an insurance company for the purpose of defrauding or attempting to defraud the company. Penalties may include imprisonment, fines, denial of insurance and civil damages. Any insurance

"Insurance is a legal contract that protects people from the financial costs that result from loss of life, loss of health, lawsuits or property damage."(Nielson.) This protection is given to the customer in exchange for a monthly payment to the company. This is a legal contract which is known as a policy, binds the customer to the insurance company for the duration of the policy. Insurance, whether it be life, health or auto, helps customers feel safe from everyday risks that can happen in life. Most insurance is optional, although some states enforce a law that automobile insurance must be purchased in order to register a car. Automobile insurance is very important. It helps the policy holder to protect their car

In Maryland, insurance policies are generally construed in the same manner as contracts. Collier v. MD-Individual Practice Ass 'n, Inc., 327 Md. 1, 5, 607 A.2d 537 (1992). An insurance contract, like any other contract, is measured by its terms unless a statute, a regulation, or public policy is violated thereby. Pac. Indem. Co. v. Interstate Fire & Cas. Co., 302 Md. 383, 388, 488 A.2d 486 (1985). We do not follow the rule, adopted in other jurisdictions, that an insurance policy is to be construed most strongly against the insurer. Collier, 327 Md. at 5; Cheney, 315 Md. at 766. We construe the instrument as a whole in order to determine the parties’ intent. Pac. Indem., 302 Md. at 388; Collier, 327 Md. at 5; Aragona v. St. Paul Fire & Marine Ins. Co., 281 Md. 371, 375, 378 A.2d 1346 (1977). In order to determine the intention of the parties, “Maryland courts should examine the character of the contract, its purpose, and the facts and circumstances of the parties at the time of execution.” Pac. Indem., 302 Md. at 388 (citations omitted). In doing so, we give the words their usual, ordinary, and accepted meanings. Id.; Mut. Fire Ins. Co. v. Ackerman, 162 Md. App. 1, 5, 872 A.2d 110 (2005) (citing Nationwide Mut. Ins. Co. v. Scherr, 101 Md. App. 690, 695, 647 A.2d 1297 (1994)). The test is what meaning a reasonably prudent layperson would attach to the term. Pac. Indem., 302 Md. at 388.

State Farm has asked whether it has a duty to defend the insured pursuant to the insured’s homeowners policy. It is our opinion that State Farm has no duty to defend the insured under the insured’s homeowners policy. The insured’s homeowners policy entitled the insured to a defense for “a suit brought against an insured for damages because of bodily injury or property damage to which this coverage applies, caused by an occurrence.” In this case, these elements initially triggering the insured’s homeowners policy are likely satisfied. Nevertheless, the SECTON II – Exclusions section provides that the liability coverage does not apply to any of the fifteen exclusions specifically enumerated therein.

Fire is one of the risks of a construction project against which Allianz’s policy insures; yet it is only one, and given the wide range coverage of the policy, it seemed odd to the presiding judges to classify it as a fire risk insurance policy. A fire insurance policy is subjected to 19 separate requirements, and until 1990, Michigan legislature, rather than trying to define “fire insurance policy”, provided that a “standard fire policy” (with all 19 mandatory minimum provisions) would not be required for a variety of types of insurance. The structure of this Michigan statute implied any form of insurance that was not exempt was a “standard fire policy”, including a builders risk policy, and so the 19 mandatory provisions would have to have been included when indemnity was sought after. However, this legislature was repealed in 1990, well before Allianz issued the

1 Description of properties (show type, location, and date acquired for each property). Use a separate line for each property lost or damaged from the same casualty or theft. Property A

Coverage: Appears to be proper. Insured has no PUP. Only an active Homeowners and Auto. Loss occurred on named insured property and the named insured is the responsible party. The lawn mower is under the 40hp exclusion, mower is 14hp.

Navigators submits that it is entitled to rescind the policy because the insurance application was riddled with material misrepresentations. Dr. Wong first argues that Navigators failed to provide notice that it would seek rescission, thereby waiving its right to bring this lawsuit. Dr. Wong then contends that rescission would unfairly prejudice him as a third party relying on the insurance contract's

Mr. George first met the claimant in 2007 when the claimant was doing some work for him at his house. The claimant asked if he could do work for him and Mr. George told the claimant he would need to have insurance and a tax ID#. The claimant obtained a tax ID# and Mr. George helped him obtain a policy of liability insurance. A certification of insurance has previously been

Thank you in advance for your prompt response and guidance. It has been 4 months and 10 days since our loss occurred, we sit here gathering paperwork, typing up emails, making endless phone calls, having to suffer the very circumstances we assumed we were insured

This Case relates to Fortuitous happenings because the insurance company had tried make its claim stating that the Plaintiff had no coverage due to lack of the accident happening out of accident but instead happening out of his own fault. Though they were right, the Judge still found that the Plaintiff had tried to save his boat and that under a different clause still covered under the insurance policy he had with the company, is still covered.

When Mr. Lear purchased the book, he had contacted his insurance company, Any State Insurance Company, to make sure the book was covered by Mr. and Mrs. Lear’s insurance policy. The insurance company said that it would be included in the coverage, and the insurance company sent a writer, which changes or amends the insurance coverage. This was done to include the book on the insurance

c) It is somewhat more difficult ot make judgments of contingent liabilities in general than for specific warranties because of the potential costs involved in the former. A claim for damages resulting from an oil spill such as Deepwater Horizon is an unforeseen liability, with costs that have not necessarily been planned for in terms of specific costs. Also, these damage

Answer: Property and casualty insurance protects property (houses, cars, boats, and so on) against losses due to accidents, fire, disasters, and other calamities. Property and casualty policies tend to be short-term contracts and, that’s why the subject to frequent renewal is, and one more characteristic feature is the absence of savings component. Property and casualty premiums are based on the probability of sustaining the loss. To estimate the key determinant of the price of an insurance policy, i.e. risks, insurance companies take third-party proceedings that develop models of catastrophe loss probabilities. Based on the numbers form Exhibit 5 of the case we see that

2. Several types of risk are present in the American economy. For each of the following, identify the type of risk that is present. Explain your answer.