Insurance Law

Subrogation vs. Assignment: Understanding the Differences
An in-depth look at Subrogation and Assignment, including definitions, distinctions, historical context, applicability, related terms, and FAQs.
Compulsory Insurance: Coverage Required by Law
Compulsory Insurance refers to the mandatory insurance coverage required by law, ensuring that individuals or entities hold a minimum level of insurance for various potential liabilities.
Indemnity: Obligation to Compensate for Loss or Damage
Indemnity refers to the obligation to make good any loss or damage another person has incurred or may incur, as well as the right of the person suffering the loss or damage to claim compensation.
Insolvency Clause: Provision in Reinsurance Contracts
A provision in reinsurance contracts determining the reinsurance company's liability even if the primary insurer becomes insolvent.
No Fault: A System of Insurance
A comprehensive guide to the No Fault system of insurance, where individuals are compensated for automobile accident injuries regardless of fault.
Stock Insurance Company: Insurance Owned by Stockholders
Stock Insurance Companies are group entities owned by stockholders, where earnings are distributed as shareholder dividends. Under state laws, policyholders' interests take precedence over stockholders'.
Indemnity: Comprehensive Guide to Its Meaning in Insurance and Law
In-depth analysis of indemnity, exploring its significance in insurance and legal contexts, including definitions, examples, historical context, and related terms.
Uberrimae Fidei Contract: Definition, Applications, and Examples
A comprehensive guide to Uberrimae Fidei Contracts, explaining the legal principle, its applications in insurance, and various examples to illustrate its importance.
Waiver of Subrogation: Types, Reasons, and Necessity
A comprehensive guide to understanding the waiver of subrogation, including its types, reasons for needing it, and its significance in contractual agreements.

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