Adhesion Insurance Contract
Agreement prepared by an insurance company and offered to prospective insureds on a take-it-or-leave-it basis. If the contracts are misinterpreted by insureds, courts have ruled in their favor since the insureds had no input into the contract. All insurance contracts have been deemed by courts to be contracts of adhesion.
Popular Insurance Terms
Legal case in which the United States Supreme Court held that pension assets are to be excluded from the bankruptcy estate of the plan participant. ...
Trust that is established by people still alive. ...
Employer using a self-administered insurance plan; or an insurer that administers a group employee benefit plan. In an employer administered plan, the employer maintains all required ...
Policy designed to act as a supplement to Medicare. The supplementation is in the form of additional benefits to that provided by Medicare. The additional benefits are in the form of ...
New rule entitled "Employers Accounting for Postemployment Benefits," which requires advanced recognition of nonretirement benefits, health insurance continuation, and severance pay. ...
Statistical projection of future illness, sickness, and disease. ...
Rule for accounting for contingencies that has application for the accounting of liabilities under the comprehensive environmental response, compensation, and liability act of 1980 ...
Insurance contract under which a policy owner cannot be assessed for adverse loss and expense experience of the insurance company. ...
Liability incurred by one insured as the result of his or her damaging another insured when both insureds are covered under the same liability insurance policy. Each insured must be treated ...
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