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In most insurance policies today part of the terms are an agreement by the insured to cooperate with the insurer. Cooperation requries the insured to participate and assign their rights to the insurance provider for claims the insured has against the original tortfeasor. In the event that the insurer pays a claim that was caused by a 3rd party, the insurance provider will requrie their insured to sign over subrogation rights. In the case of uninsured motorist coverage, the insurance provider's right of subrogation is created by statute.
"Bad faith" is a term usually used to describe poor conduct by insurance companies on a failure to protect the assets of the insured. A bad faith lawsuit is usually filed by a an insured against his own insurance company after the insurance company has failed to settle a claim by an injured person and the injured person then obtains a judgment or verdict against the insured in excess of the policy limits of the insured person.
They are insured against their loss. However, you can purchase additional moving insurance in case any of your office equipment is damaged.
Banks that are insured by the Federal Deposit Insurance Corporation are insured against loss as a result of the bank defaulting or otherwise being unable to repay a customer's money.
Third Party Insurance is a Liability insurance purchased by the insured (first party) from an insurance company (second party) for protection against possible suits brought by another (third party).
They will have a pink card stating the insurance company on it still, as long as the accident happened in the one day they were insured.
It is sometimes argued that life insurance is a sort of gamle, in as much as it enables a person to take a chance regarding the receipt of a large sum of money on the occurrence of a contingency such as fire or death, by paying a small amount of premium. This is not correct ! The purpose of insurance is to protect the insured against losses resulting from hazards beyond his control. It should not and does not, enable the insured to profit from the ococurrence of the event insured against. It can and does only indemnify him to the extent of the loss suffered by him.
A company that is fully insured goes to an insurance company and buys insurance. A company that is self insured does not buy insurance and plans to pay any claims out of the companies "pockets". For instance, if you own a home but choose not to buy home insurance, you are self insured if you should have a fire.
Insurance is a contract in which you, the insured, pay a premium to the insurance company. In return, the insurance company agrees to pay you money-or to pay someone else money on your behalf (in the case of liability insurance) if a covered event occurs. Covered events are outlined in the policy and vary depending upon the kind of insurance involved. In answer to your question, you cannot make a "first-party" insurance claim if you have no insurance. A first-party claim is one against your own insurance company for property that you insured for your own protection. However, regardless of whether or not you had insurance, you may be able to make a "third-party" insurance claim against a party that damaged or destroyed your property, if that party had insurance. Even if they did not, you can make a claim against the party individually if you can prove fault. However, collecting damages from an uninsured third-party is often difficult.
Your car is not insured unless you purchase insurance for it.
Life insurance is financial protection for survivors or others with an insurable interest in the continued life of the person insured. "Insurable interest" essentially means that the beneficiary has a "stake" (which can be founded on finances, "love and affection", or some other bases) in the continued life of the insured. When the insured dies for reasons that are not excluded by the policy, the beneficiary(ies) receive the life insurance proceeds.
We need to know what he's insured for. If he's insured to drive the car, then yes. If he's insured with life insurance, then no. But normally it's the car that carries the insurance.