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
Contract providing a monthly income benefit to members of a group of employees. A group annuity has the same characteristics as an individual annuity, except that it is underwritten on a ...
SCHEDULE provision of the new York insurance code and regulations under which the life insurance company must file with the Insurance Commissioner all expenses associated with selling new ...
The term pro rata comes from Latin and translates to in proportion, proportionally, the proportion of, proportionately determined, or according to a specific rate. It is often used in legal ...
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Insurance company whose domicile is in a state other than the one in which the company is writing business. ...
Statement showing assets and liabilities of an individual. ...
Highly visible form of marketing communication with the public with these objectives: (1) encourage agents and brokers to sell insurance company products, (2) predispose customers to be ...
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