Insurance Law
| Risk Retention Groups |
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| Risk retention groups serve as captive insurance companies formed to provide insurance to members of the group. Rather than purchase insurance from independent insurers, the group of companies forms its own insurance company. Companies with similar risk management concerns thus may exercise greater control over their insurance coverage, pricing, and claims administration. More... |
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| First-Party Insurance |
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| An insured may submit a claim to his insurer to recover under two different categories of insurance. The categories are based on whom the insurer is required to pay. If the insurer is required to pay the insured for his loss, the insurance classification is "first-party" insurance. If the insurer is required to pay a third party on behalf of the insured due to a loss caused by the insured to the third party or the third party's property, the insurance classification is "third-party" insurance. This article addresses first-party insurance only. More... |
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| CGL Policy Exclusions |
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| Comprehensive general liability (CGL) policies insure policyholders against losses from being found liable for personal injury or property damage suffered by another person or business. More... |
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| Professional Liability Insurance - Errors and Omissions Policies |
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| Professional liability policies, also called errors and omissions (E&O) policies, are purchased by professionals to protect themselves from liability arising from their performance of professional services. E&O policies are typically purchased by those in the medical, legal, and banking professions, but policies may be issued for many other professions. Directors and officers liability policies are also included within the scope of professional liability insurance, but this article focuses on E&O policies. More... |
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| International Operations Insurance |
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| As international operations of companies have expanded, the need for insurance products to reduce the risk of such operations has grown. Political risk insurance and trade credit insurance are two such products. More... |
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