Dual Capacity Doctrine
Rule of law under which a defendant who has two or more relationships with a plaintiff may be liable under any of these relationships. For example, an employer may be liable in two ways to an employee who incurs bodily injury on the job as the result of using a product or service produced by that employer: first, as the employer of the injured employee, and second, as the producer of the product or service that caused injury to the employee. The injured employee may then either collect benefits for job-related injuries under workers compensation or sue the employer as the producer of the defective product or service. For example, if an employee injures an arm at work while operating a machine with a defective blade that the employer manufactures, the employee can receive benefits under workers compensation or sue the employer as the manufacturer of the defective blade.
Popular Insurance Terms
Model state law of the NAIC that stipulates minimum non forfeiture values, minimum valuation of assets requirements, and specific minimum policy provisions in universal life insurance ...
Latin phrase meaning "overpowering force"; an unavoidable accident or calamity; an accident for which no one is responsible; an act of god. ...
Compulsory employee benefit plan under which participants are entitled to a series of benefits as a matter of right. The plan is administered by a federal or state government agency and has ...
Contractual rights to a stipulated percentage of the increase in the value of an insurance agency over a given future period of time. They are used to convey a percentage of the increase in ...
(Formerly the American College of Life Underwriters) accrediting body for the CLU (Chartered Life Underwriter) and the ChFC (Chartered Financial Consultant) designations. Provides ...
Transportation firm that must carry any customer's goods if the customer is willing to pay. Common carriers include trucking companies, bus lines, and airlines. ...
Personal and family loss by death, disability, sickness, old age, accident, and unemployment. All of these exposures are insurable, and coverage's can be purchased under a variety of ...
Insurance company formed according to the legal requirements of a foreign country. In order for an alien insurer to be able to carry on general operations and sell its products in a ...
Coverage for extra expenses associated with the reconstruction of a damaged or destroyed building where zoning requirements mandate more costly construction material. This endorsement is ...
Have a question or comment?
We're here to help.