| Drop Down of Excess Coverage If the Primary Insurer Becomes Insolvent |
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| Although insolvency of an insurer may be considered a relatively rare event, the effect of such insolvencies on policyholders can be substantial. Most jurisdictions have insurance guaranty associations that will provide some coverage in place of an insolvent insurer, but such coverage usually is limited as to the amount and type of reimbursement of losses that will be available. Affected policyholders should consider whether an excess insurer has an obligation to "drop down" and take the place of an insolvent primary insurer. More... |
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| Denial of Claims |
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| An insurer may deny a claim for a loss made by an insured in certain circumstances. However, the insurer must follow certain standards and guidelines when making such a denial. More... |
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| Contingent Business Interruption Insurance |
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| Business interruption insurance is a form of property insurance that reimburses a business for losses that arise due to damage to the property of the business that reduces the ability of the business to continue its operations. Contingent business interruption insurance is also available to provide coverage for business continuation losses occurring to a business when property of another business is damaged or destroyed. More... |
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| The Equitable Right of Subrogation |
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| Subrogation is an equitable right to seek recovery of losses paid by the plaintiff for another in an action against the party that caused the losses. In insurance law, subrogation refers to the right of the insurer to seek compensation for its payments to its insured by filing an action against the person that caused the damages to the insured. More... |
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| The War Exclusion to the CGL Policy |
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| Standard comprehensive general liability policies insure businesses against liability for personal injury or property damage of third parties. The policies contain a number of exclusions from coverage. Insurance needs and risk planning regarding the eventualities described in the exclusions should take into account that standard CGL policies, though comprehensive, do not cover excluded events.
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