Fire insurance and many other kinds of insurance policies contain appraisal clauses. Such clauses are included in form fire insurance policies required by state insurance regulators and are included in various other policy forms covering losses to property.
The CGL Policy Exclusion for Pollution
Underinsured coverage refers to coverage available to an insured involved in an accident with a driver who has insufficient auto insurance coverage.
As international operations of companies have expanded, the need for insurance products to reduce the risk of such operations has grown. Political risk insurance and trade credit insurance are two such products.
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.
