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Since air carriers do not merely rely on the common and potentially ambiguous meaning of the terms used in commercial insurance contracts and may be tried on the basis of a court decision based on the concept of “competition,” each commercial insurance policy has a section of definitions. Defined terms are generally easily identifiable because they are generally capitalized and/or displayed in bold, italic or quotation marks. In a liability policy, the insurance agreement describes the types of activities covered. In Hanlon v. ING3, the British Columbia Court of Appeal interpreted a landlord and tenant policy that caused damage to a house in Salmon Arm through a marijuana grow operation. The damage included wet, soaked and burned carpets, the removal of bathroom faucets, replaced by blocks of exterior pipes, holes that were drilled into the walls of the bathroom so that they could pass pipes, lifting and soiled wallpaper, lifting square tiles, mold and what the unfortunate owner of the land described as a “strange smell”. There are many reasons why it is important for you to read and understand your public institution`s insurance policies. First, any insurance policy is a contract between your organization and the insurance company. Second, you want to make sure that the directive covers what you need and you expect it to be covered, including certain activities and operations, as well as essential staff related to the organization. Third, if there are specific reporting provisions or requirements that apply after your business has suffered a loss, you want to make sure you know what to do and when it is necessary. Claims are paid and defended in strict compliance with your written insurance policies. Don`t be naïve to believe that a carrier will make an exception if you don`t comply with the strict reporting obligations of a directive.

This case is a perfect example of the change in the law that has made homes progressive. The words of politics are at the heart of media coverage. A directive may also contain one or more calendars (lists), for example, a calendar. B location or calendar for covered cars. In some insurance contracts, such as directors. B and officials, the request will be included in the police. Most of the guidelines have a section of definitions that defines certain terms used in the directive. It can extend to a separate section or part of another section. To understand the terms used in the directive, it is important to read this section. Kevin has three liability policies that provide for a 50/50 contribution if another insurance applies to a loss.

How much will each policy pay for a $3,000,000 liability judgment if Policy A offers $500,000 in coverage s. on $1, policy B $1,000,000 in coverage and C$3,000,000 in coverage? According to Jenny`s auto insurance, she must pay the first $500 for property damage to her vehicle before her insurer has to pay. What kind of deductible is included in Jenny`s car insurance? Conditions are provisions that are included in the policy that qualifies or limits the insurer`s promise of payment or benefit. If the insurance conditions are not met, the insurer may refuse the claim. Among the terms and conditions set out in a directive is the obligation to file proof of loss with the company, to protect the property after a loss and to cooperate during the investigation or defence of a company liability action. Insurance contracts have traditionally been written on the basis of each type of risk (for which risks have been defined very precisely) and a separate premium is calculated and charged for each of them. Only the specific risks expressly described or “considered” in the directive were covered; This is why these guidelines are now referred to as “individual” or “schedule” guidelines. [13] This system of “designated hazards”[14] or “specific hazards”