Insurance Law
| Third-Party Insurance |
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| An insured may submit a claim to his insurer to recover under two different categories of insurance. The categories are based on whom the insurer is required to pay. If the insurer is required to pay the insured for his direct loss, the insurance classification is "first-party" insurance. If the insurer is required to pay a third party due to a loss caused by the insured to the third party, the insurance classification is "third-party" insurance. This article addresses third-party insurance only. More... |
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| INTERPLAY WITH CONSUMER PROTECTION STATUTES |
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| The Federal Trade Commission Act, as amended, was one of the first laws to protect consumers from unfair and deceptive acts or practices in commerce. Additionally, most states have now adopted either the Uniform Deceptive Trade Practices Act1 or enacted similar statutes that protect consumers and other businesses from unfair and deceptive acts or practices in commerce. These consumer-oriented statutes are typically limited to the sale of goods or services and transactions for personal, family, household, and similar purposes. While there is a variance in these statutes as to what constitutes an unfair and deceptive trade act or practice, the following activities are typically prohibited under all consumer-oriented deceptive trade practice statutes: (1) passing off goods or services as those of another; (2) causing confusion or misunderstanding as to the source or approval of goods or services; (3) falsely representing that goods or services have sponsorship, approval, or benefits that they do not have; (4) disparaging the goods, services or business of another by false or misleading representations; and (5) engaging in any other conduct that creates a likelihood of confusion or of misunderstanding. Federal and state consumer-oriented laws usually allow both business competitors and consumers to sue a business or person that has engaged in a deceptive trade practice. In many states, aggrieved consumers may obtain treble damages and collect attorney's fees. More... |
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| Exclusions in Aviation Insurance Policies |
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| The aviation industry is highly regulated. Exclusions in aviation insurance policies relating to violation of such regulation have raised special issues. More... |
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| Payees of Claims |
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| When a claim is submitted to an insurer under an insurance policy and the insurer determines that it will make payment for the loss incurred, the insurer must then make payment to the proper party. To determine the proper payee of insurance proceeds, an insurer must focus on the rights under the policy rather than the rights of the parties to the insured property. For example, the fact that a party owns the insured property does not mean that he is entitled to the proceeds when a loss occurs. In general, any party with a recognized interest in the proceeds may be entitled to payment. If a party entitled to payment is not paid, the insurer may be subject to multiple liability for the same loss. More... |
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| No-Fault Automobile Insurance |
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| No-fault insurance provides coverage for an insured's injuries or damages up to the policy limit regardless of whether the insured or another driver was at fault. More... |
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