Respondeat Superior
Latin for "Let the superior reply." That is, an employer is liable for the torts of employees that result from their employment. For example, an insurance company (the master) acts through its agent (servant); because of this master-servant relationship, any wrongs the agent commits are deemed to have been committed by the insurance company, which must accept responsibility.
Popular Insurance Terms
Measure of the sensitivity of the insurance company's liability for the resultant higher expense rates than charged for in the premium. ...
Designation earned by passing 10 national examinations on subjects including mathematics of life and health insurance, actuarial science, insurance, accounting, finance, and employee ...
Automobile purchased or leased by the insured or the insured's spouse that takes the place of the insured or the insured spouse's present car as covered in the personal automobile policy ...
Interest rate credited on three-month United States Treasury bills. ...
Legislation that redefined life insurance and raised taxes on life insurance companies. Among the provisions were new rules for some life insurance products, including a definition of ...
Total income before adjustment for deduction as applied to tax calculation for both the individual and the firm. ...
Age at which a pension plan participant is entitled to receive retirement benefits, or point at which retirement benefits are payable: normal retirement age is the earliest age permitted ...
Payment under a state-sponsored program for victims of crimes. ...
Sum total of an employee's job-related injuries resulting in disabilities over the working career. For example, exposure to radiation over many years on the job would have a compounding ...
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