Insured life

Court Holds Insured Failed To Meet Its Burden To Allocate Loss in Connection With Settlement: Wiley

In a coverage dispute between an insured life insurance company and one of its excess professional liability insurers, a Massachusetts Superior Court has held that a class-action settlement for which the insured life insurance company sought coverage included both covered and uncovered loss. Allmerica Fin. Corp. v. Certain Underwriters at Lloyd's London, 2010 WL 3191802 (Mass. Super. Aug. 3, 2010). The court further held that the life insurance company had failed to meet its burden of proving that the covered loss exceeded the retention and the primary policy's limit of liability. As a result, the court granted summary judgment to the excess professional liability insurer. A group of...

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Groupama "Real life is insured here" - Groupama

JavaScript désactivé - Ce site requiert l'activation de JavaScript. JavaScript is deactivated - This site requires JavaScript. Groupama “Real life is insured here” Groupama: Insurer of the real world Habits change, and risks and lifestyles evolve. In a world where everything happens very quickly and is constantly moving, insurance must adapt at the same pace. In this changing world, Groupama’s mutual insurance roots are its strength to offer the best insurance and to best support its members each day in all stages of their lives. A true hands-on insurer, as close as possible to its members’ needs, Groupama gives real meaning to the human dimension of the policyholder...

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Analysis of General and Insured Population Suicides in the U.S., Munich Re Life US

Recent celebrity deaths have brought the topic of suicide out of the shadows and sparked conversation about the causes for suicide and possible preventive measures. According to the Centers for Disease Control and Prevention (CDC), just over 47,000 lives in the U.S. were lost to suicide in 2017, which translates to 14.5 per 100,000 population. In the U.S., suicide ranks in the top ten causes of death for all age groups. Globally, suicide is the second leading cause of death among 15- to 29-year-olds. It is a phenomenon in all regions of the world and is considered a public health priority by the World Health Organization (WHO). Another reason for renewed concern about suicides is that...

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OGC Opinion No. 08-05-02: Insurable Interest Requirement (Life Insurance), Department of Financial Services

The Office of General Counsel issued the following opinion on May 6, 2008 representing the position of the New York State Insurance Department. RE: Insurable Interest Requirement (Life Insurance) Question Presented: Would the issuance of a policy of life insurance in the below-described proposed transaction be consonant with the insurable interest requirements of N. Y. Ins. Law § 3205 (McKinney 2007)? Conclusion: Yes. Assuming that all of the pertinent facts are as described, a policy of life insurance issued in connection with the proposed transaction described below would not violate the insurable interest requirements of Insurance Law § 3205. The counsel to a retired individual (the “...

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Does Life Insurance Cover Suicide?, Legal General

Does life insurance cover suicide? If you pass away due to suicide or intentional and serious self-injury within the first year of taking out a life insurance policy, then your life insurance doesn’t cover this. This also applies in cases where, in our reasonable opinion, the insured person took their own life. By putting this one-year policy in place, we can reduce the financial incentive for someone to tragically take their own life in the hope of triggering a life insurance pay-out, however unimaginable that may seem. Beyond this period of one year, this exclusion doesn't apply and so we will assess all life insurance claims as we would any other claim where someone has passed away...

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Sum Insured in Health Insurance: Compare Sum Assured vs Sum Insured

false false false false false false false false false false false Are you finding it difficult to understand all the complicated terms and jargon used in health insurance? Don’t worry you’re not alone. We understand that it can be trying to read 50-something page insurance documents. But don’t worry, we’re here to make insurance simple for you. We can help you be prepared with some important terms you need to know before buying health insurance. And one important term you must know is Sum Insured. What is Sum Insured? Sum Insured (SI) is the maximum amount that is provided to you (the insured) in case you make a claim due to a medical emergency, treatment for illness, etc. It is directly...

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11 March 1998 External T.I. 9703585 - SELF-INSURED LIFE INS IS AN EBP PAYING A DEATH BENEFIT, Tax Interpretations

You are here 11 March 1998 External T.I. 9703585 - SELF-INSURED LIFE INS IS AN EBP PAYING A DEATH BENEFIT View modes Please note that the following document, although believed to be correct at the time of issue, may not represent the current position of the CRA. Prenez note que ce document, bien qu'exact au moment émis, peut ne pas représenter la position actuelle de l'ARC. Please note that the following document, although believed to be correct at the time of issue, may not represent the current position of the Department. Prenez note que ce document, bien qu'exact au moment émis, peut ne pas représenter la position actuelle du ministère. income inclusion for an employee relating to a self...

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26 CFR 1.7702-2 - Attained age of the insured under a life insurance contract., CFR, US Law, LII, Legal Information Institute

26 CFR § 1.7702-2 - Attained age of the insured under a life insurance contract. (a) In general. This section provides guidance on determining the attained age of an insured under a contract that is a life insurance contract under the applicable law, for purposes of determining the guideline level premium of the contract under section 7702(c)(4), applying the cash value corridor of section 7702(d) or applying the computational rules of section 7702(e), as applicable. (b) Contract insuring a single life. (1) If a contract insures the life of a single individual, either of the following two ages may be treated as the attained age of the insured with respect to that contract - (i) The...

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IPTM7020 - Insurance Policyholder Taxation Manual - HMRC internal manual -

Group life policies and the chargeable event rules The tax guidance which follows in this and subsequent paragraphs assumes that, contractually, the policy is a group policy. Although group life cover can often be provided under an approved pension scheme, there are many circumstances where that is not possible. Before Finance Act 2003 (FA03), such policies fell within the chargeable event rules, potentially giving rise to taxable gains. However, FA03 introduced an exclusion from the chargeable event rules for group life policies which only provide death benefits, provided they meet certain other conditions. The detailed conditions which need to be met for a policy to be an ‘excepted group...

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Policyholder Protection and the LICGC, Department of Financial Services

Guaranty Fund Protection in New York State In 1941, New York became the first state in the country to provide consumers with a measure of protection against the insolvency of a domestic life insurer. In 1985, the Life Insurance Company Guaranty Corporation of New York (the “Guaranty Fund”) was established to include licensed non-domestic life insurers. The Guaranty Fund is a not-for-profit New York corporation that provides funds to New York resident and certain nonresident policy owners in the event of the insolvency of a licensed (or formerly licensed) life insurer. The Guaranty Fund is managed by a board of directors, consisting of representatives of member insurers and the...

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