Insurance Law Newsletters
Automobile insurance policies normally contain the same five basic sections found in most types of insurance policies: 1) declarations, 2) an insuring agreement, 3) definitions of terms used in the policy, 4) conditions, and 5) exclusions.
Traditional commercial insurance policies may be priced through a guaranteed cost rating, a dividend program, or a retrospective rating. Each of these alternatives has distinctive features that could affect the effectiveness of a risk management program.
Insureds have an obligation to be truthful when dealing with their insurers in relation to their claims under insurance policies. However, insureds sometimes attempt to submit fraudulent bills in order to recover under their health insurance policies. In response to such actions, federal legislation was passed to make certain acts related to health care claims illegal.
(Business Property Insurance Policy Exclusions)