Guest Law
Legal right of a passenger in an automobile involved in an accident to bring a liability suit against the driver. It is deemed that a special standard of care is owed by an automobile driver towards the passenger. This law bars suits only for ordinary not gross or criminal negligence. In many states, such actions by a passenger are prohibited; in other states, intentional misconduct of the driver must be shown.
Popular Insurance Terms
Classification of ships according to their construction material, age, physical condition, propulsion type, stress tests of structure, and owners. Marine insurance rates for a particular ...
Traditional HMO made up of physicians who are salaried by the HMO. These physicians treat solely HMO members who are covered only if they use HMO physicians and hospitals. ...
The definition for retainer agreement: work for hire contract that provides a client with a fixed number of work-hours from freelancers or lawyers. Even a real estate lawyer uses this type ...
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Protection of the property of the business that is damaged or destroyed by perils such as fire, smoke, and vandalism; and/or if the actions (or nonactions) of the business' representatives ...
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Coverage in the event an insured's negligent acts and/or omissions involving the construction of a new one- or two-family residential structure result in bodily injury and/or property ...
Proportion of a premium allocated to pay losses, which is equivalent to (1.00 - expense ratio). ...
Supplementary life insurance reserve required by state regulators when the gross premium is lower than the valuation premium. Some life insurers are able to charge policyholders a premium ...
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