Insurer
61Subrogation — is the legal technique under the common law by which one party, commonly an insurer (I X) of another party (X), steps into X s shoes, so as to have the benefit of X s rights and remedies against a third party such as a defendant (D). Subrogation… …
62Cumis counsel — A Cumis counsel is an attorney employed by a defendant in a lawsuit when there is an insurance policy supposedly covering the claim, but there is a conflict of interest between the insurance company and the insured defendant. [1] Contents 1 The… …
63Health insurance — is insurance against the risk of incurring medical expenses among individuals. By estimating the overall risk of health care expenses among a targeted group, an insurer can develop a routine finance structure, such as a monthly premium or payroll …
64Reinsurance — is a means by which an insurance company can protect itself against the risk of losses with other insurance companies. Individuals and corporations obtain insurance policies to provide protection for various risks (hurricanes, earthquakes,… …
65Insurance contract — An Insurance contract determines the legal framework under which the features of an insurance policy are enforced. Insurance contracts are designed to meet very specific needs and thus have many features not found in many other types of contracts …
66Marine insurance — Admiralty law History …
67Ruin theory — Ruin theory, sometimes referred to as collective risk theory, is a branch of actuarial science that studies an insurer s vulnerability to insolvency based on mathematical modeling of the insurer s surplus.The theory permits the derivation and… …
68Maxims of equity — The maxims of equity evolved, in Latin and eventually translated into English, as the principles applied by courts of equity in deciding cases before them.[1] Among the traditional maxims are: Contents 1 Equity regards done what ought to be done… …
69Catastrophe bond — Catastrophe bonds (also known as cat bonds) are risk linked securities that transfer a specified set of risks from a sponsor to investors. They are often structured as floating rate corporate bonds whose principal is forgiven if specified trigger …
70General average/New version — Average in maritime commerce to signify damages orexpenses resulting from the accidents of navigation. Average is either general or particular. General average arises when sacrifices have been made, or expenditures incurred, for the preservation… …
