Insurance Law
| 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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| Cost Comparison of Rating Programs for Traditional Insurance |
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| Traditional commercial insurance policies may be priced through a guaranteed cost rating, a dividend program, or a retrospective rating. Each of these alternatives has distinctive features that could affect the effectiveness of a risk management program. More... |
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| Lloyd's of London |
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| While references are made to insurance policies from Lloyd's of London, Lloyd's is not an insurer. Rather, Lloyd's is a market for various syndicates or groups that provide insurance against various risks. More... |
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| Insurance Law> General Liability Insurance> Harm Exclusions |
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| (The CGL Policy Exclusion for Expected or Intended Injury) More... |
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| First-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 loss, the insurance classification is "first-party" insurance. If the insurer is required to pay a third party on behalf of the insured due to a loss caused by the insured to the third party or the third party's property, the insurance classification is "third-party" insurance. This article addresses first-party insurance only. More... |
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