Stare Decisis
Definition of "Stare decisis"
Latin phrase meaning "to stand by the decisions." This legal doctrine under common law requires courts to rely on precedents, or previous decisions, when deciding disputes unless there is a compelling reason to reject those precedents. In most instances, this doctrine means that courts will decide disputes over insurance contracts the same way they have decided cases with similar facts and legal issues in the past.
Popular Insurance Terms
Background information used in life and health insurance underwriting to ascertain the probability of hereditary disease. The purpose is to determine if the disease is of such a nature that ...
1890 law prohibiting monopolies and restraint of trade in interstate commerce. The Sherman Act was strengthened in 1914 with amendments known as the Clayton Act that added further ...
Coverage for direct or indirect property loss that can be analyzed under the following headings: Peril a particular peril may be included or excluded. For example, the Standard Fire Policy ...
Plan under which an employee authorizes his or her employer to deduct from each paycheck premiums due on an insurance plan. ...
Insurance company's total premium income plus investment income. ...
Protection for the assets of a business (including merchandise for sale, real property, money and securities) in the event of robbery, burglary, larceny, forgery, and embezzlement. Coverage ...
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Arrangement under which the insured pays a fixed premium to the insurance company in exchange for the total transfer of the risk to that company. ...
Extension of coverage available under the Standard Fire Policy. The standard policy only covers the perils of fire and lightning. The endorsement covers riot, riot attending a strike, civil ...
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