Top 7 Conditional Contract Insurance

Table of Contents

1 The Distinct Legal Character of Insurance Contract: Expectation and Reality

Author: linkedin.com
Published Date: 06/23/2022
Review: 4.91 (959 vote)
Summary: · An Insurance is a conditional contract i.e. the insurer’s obligation to pay claims subject to whether the insured or beneficiary has
Matching search results: In non-life insurance, insurance is a personal contract which means the contract is between the insured and the insurer. In this case, the insured must be acceptable to the insurer and must meet certain underwriting standards regarding character, …
Source: 🔗

Author: chilot.me
Published Date: 07/04/2022
Review: 4.76 (202 vote)
Summary: · A contract of insurance is a type of contingent or conditional contract. As the name indicates, a contingent or conditional contract is a
Matching search results: 2. In an insurance contract, the insured has an insurable interest in the life or property sought to be insured. In a wagering or gambling agreement, neither party has any pecuniary or insurable interest in the subject matter of the agreement except …
Source: 🔗

Author: insurancesamadhan.com
Published Date: 02/02/2022
Review: 4.41 (565 vote)
Summary: · An insurance contract is conditional. This means that the insurer’s promise to pay benefits depends on the occurrence of an event covered by
Matching search results: In most cases, life insurers have only a limited period of time to uncover false warranties, misrepresentations, or concealment. After that time period passes (normally two years from policy issue), the contract cannot be voided or revoked for these …
Source: 🔗

Author: thismatter.com
Published Date: 02/13/2022
Review: 4.32 (455 vote)
Summary: Central to any insurance contract is the insuring agreement, … However, insurance contracts are also conditional contracts — if the insured fails to pay
Matching search results: A condition subsequent is a condition that must be fulfilled after an event requiring an act by the insurer. For example, if the insurance company wants to exercise its subrogation rights and sue a 3rd party for the insured’s cause of loss, then the …
Source: 🔗

Author: ephorilondon.com
Published Date: 06/10/2022
Review: 4.13 (278 vote)
Summary: · To be enforceable, a contract must be concluded by the competent parties. In the case of an insurance contract, the contracting parties are
Matching search results: In addition, insurance contracts have distinctive features that distinguish them from many other legally binding agreements. Some of these features are unique to insurance contracts. Let`s review these distinctions. It is important to note that …
Source: 🔗

Author: travelers.com
Published Date: 04/03/2022
Review: 3.83 (234 vote)
Summary: Understanding Conditional Payment Clauses in Construction Contracts … If you are in the construction industry, you’ve undoubtedly heard the terms “pay-if-paid”
Matching search results: “Shall have a reasonable time to make payment to Subcontractor. Reasonable time shall be determined according to the relevant circumstances, but in no event shall be less than the time Contractor and Subcontractor require to pursue to conclusion …
Source: 🔗

Author: thebftonline.com
Published Date: 10/30/2021
Review: 3.79 (302 vote)
Summary: · An insurance policy is a conditional contract because whether the insurer pays a claim depends on whether a covered loss has happened
Matching search results: A contract has been defined as a legally enforceable agreement. We have explained in our earlier write-ups the elements that make a contract be a legally enforceable agreement. These, we said, include agreement (offer and acceptance), capacity (the …
Source: 🔗