| Employers Entitled to Life Insurance Proceeds |
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| A beneficiary of a life insurance policy must have an insurable interest in the life of the insured in order to collect the policy proceeds upon the insured's death. An insurable interest is usually found where there is a blood or marriage relationship between the beneficiary and the insured or where the beneficiary has a direct or contractual relationship with the insured. More... |
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| False Claims by Insured |
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| Various statutes prohibit the submission of false or fraudulent claims or evidence in connection with insurance claims. A person who commits such fraud may be subject either to civil liability to an insurer or to prosecution for a crime.
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| Pleading a Case |
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| If an insured sustains a loss and is denied payment by an insurer under an insurance policy, he may bring an action against the insurer to recover his claimed loss. The insured's complaint may state his cause of action generally and in brief and simple language. Some statutes provide optional methods of pleading. Courts may construe the averments of the complaint liberally. Matters not pleaded are generally waived. More... |
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| The Meaning of an Insurance Binder |
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| A binder in the insurance industry is a temporary agreement of the insurance company to provide coverage while it seeks to issue a policy based upon the representations made in the application for insurance. The binder may be issued by an insurance agent or an insurance company. More... |
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| Unconscionability |
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| An insurance policy, like every other type of contract, imposes upon each party an implied duty of good faith and fair dealing in its performance and its enforcement. This duty requires the insurer and the insured to perform so as not to impair or destroy the right of the other to receive the benefit of the agreement. The duty also incorporates the concept of avoiding "unconscionability" in executing the policy. More... |
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