The Risk Management Agency has determined that since the collapse happened due to a natural cause, it will be an insurable
event for ag producers affected by the irrigation disruption.
State law does allow individuals to take out life policies on others, but only if the benefits are payable to someone with an "insurable
interest" in the person whose life is insured, it said.
No insurance policy may be enforced except for the benefit of the person having an insurable
interest in the property insured.
To secure an insurance policy one must have insurable
interest which refers to the "current, legal and financial relationship" between the insured and subject matter of insurance a mare hope of having interest in future is not enough to be considered as insurable
"Depending on the storm's intensity after making landfall, the potential for insurable
losses could put some pressure on reinsurers, as well as primary insurers," Best said in the briefing "Insurers and Reinsurers Brace for Hurricane Michael Catastrophe Losses," released by the ratings agency Wednesday.
Bulgarian employers' organizations are opposed to the state's intention not to drop the ceiling on pensions and raise the maximum insurable
Typically, cyber insurance policies only insure fines when "insurable
by law," and stipulate that the insurability of fines or penalties shall be determined by the "laws of any applicable jurisdiction that most favors coverage for such monetary fines or penalties."
Howell, has promulgated effective August 1 a revised program designed to provide a temporary placement facility on a mandatory basis for insurable
risks in congested sections of major New Jersey cities and contiguous areas for the perils of fire and extended coverage.
He said that approved 'The Marine Insurance Bill 2017' to legislate the Marine Insurance Act had been drafted, which would cover the subjects including marine insurance, insurable
value, disclosure and representation.
Continuity management isn't just about insurable
risk, it's also about the non-insurable commercial events that can make life difficult such as changes in the tax regime, market conditions or a sudden hike in raw material prices or labour costs.
Many other serious risks are not insurable
at all including divorce, disputes, wage related employment practices, environmental issues and punitive damages.
My boyfriend and I are in the process of buying our first house, and wanted to take out life assurance on each other's lives in case either of us were to die, but were told that "insurable
interest" might be a problem.