Insurance Law
| The Duty of Reinsurers to Follow the Fortune of Cedant Insurers |
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| Most reinsurance contracts by which an insurance company cedes or reinsures a portion of the coverage for policyholders to a reinsurer call for the reinsurer to "follow the fortune" of the insurer. Thus, the reinsurer is expected to pay the reinsured percentage of a claim without questioning how the insurer handled the claim. The follow the fortune doctrine is an extension of the "utmost good faith" that by tradition has governed the relationship of the ceding insurer to the reinsurer. More... |
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| Aviation Insurance |
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| Aviation Liability Coverage More... |
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| Incontestability Clause |
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| What is an incontestability clause? More... |
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| Purchasing Groups |
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| The Liability Risk Retention Act of 1986 provides for the formation of purchasing groups to buy insurance. Such groups must be made up of members or companies with similar risk exposure due to their involvement in similar businesses. The groups must meet the regulatory requirements of the states in which they are organized, but, due to preemption by the Act, some regulatory requirements of other states in which the groups do business do not have to be met. More... |
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| Automobile Insurance Options |
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| Standard automobile insurance policies provide both required and optional coverages. In most states, auto policies must contain liability insurance that provides for payment of damages caused by the policyholder. Coverage for damages to the policyholder's auto normally is not required (although it is purchased by most automobile owners). More... |
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