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:star: CHAPTER 14: THIRD-PARTY LIABILITY INSURANCE (wk 14) (:check: A…
:star: CHAPTER 14: THIRD-PARTY LIABILITY INSURANCE (wk 14)
:check: LEARNING OBJECTIVES
INTRO - WHAT IS INSURANCE?
:check: DUTY TO DEFEND vs. DUTY TO INDEMNIFY
:CHECK: RISK DISTRIBUTION
:CHECK: SHARING IN THE RISK
:CHECK: COMPOSITION OF AN INSURANCE COMPANY
:CHECK: ESSENTIALS OF THIRD-PARTY LIABILITY INSURANCE
:CHECK: ANATOMY OF AN AUTOMOBILE INSURANCE POLICY
:CHECK: DECLARATIONS PAGE
:CHECK: BINDER
:CHECK: INSURANCE SERVICES OFFICE (ISO)
:CHECK: A CLOSER LOOK AT THE DEC SHEET
The Insureds
The Policy Number and Insurance Agent
Effective Dates of Policy
Occurrence Policies vs. Claims-Made Policies
Total Annual Policy Premium Paid for Various Coverages
Codes / Abbreviations of Underwriting Dept
Policy Discounts
Liability Coverage
Overlapping Coverage
Umbrella Policy
Limits of Liability / Bodily Injury Liability
Limits of Liability / Property Damage Liability
Uninsured Motorist, Underinsured Motorist,
Personal Injury Protection
Limits of Liability / Other than Collision (OTC) and Collision
Loss Payee / Additional Interest
Forms Applicable
Form PP 00 01 01 05 (The Base Policy)
Form Endorsements PP BL 01 88 12 09,
PP BL 04 29 12 09
PP BL 05 83 12 05
:check: A REVIEW OF THE POLICY
Exclusions
Duties / Conditions
Definitions
General Provisions
Insuring Agreement
:CHECK: RESERVATION OF RIGHTS, DECLINATION, AND DECLARATORY JUDGMENT
:CHECK: THE TRIPARTITE RELATIONSHIP
:CHECK: THE IMPLIED COVENANT OF GOOD FAITH AND FAIR DEALING (BAD FAITH)
:CHECK: COMMERCIAL GENERAL LIABILITY (CGL)
:CHECK: DIRECT ACTION STATUTES