Dual Capacity Doctrine
Rule of law under which a defendant who has two or more relationships with a plaintiff may be liable under any of these relationships. For example, an employer may be liable in two ways to an employee who incurs bodily injury on the job as the result of using a product or service produced by that employer: first, as the employer of the injured employee, and second, as the producer of the product or service that caused injury to the employee. The injured employee may then either collect benefits for job-related injuries under workers compensation or sue the employer as the producer of the defective product or service. For example, if an employee injures an arm at work while operating a machine with a defective blade that the employer manufactures, the employee can receive benefits under workers compensation or sue the employer as the manufacturer of the defective blade.
Popular Insurance Terms
Limitation imposed on insurance companies by state law. States oversee the insurance industry, being responsible for making certain that the rates are fair, reasonable, and adequate, and ...
Right of a beneficiary of a life insurance policy to exchange the future installments due that beneficiary for a lump sum distribution. ...
Provision in business interruption insurance that excludes coverage for continuing the wages of rank and file employees. Business interruption insurance covers an employer for loss of ...
Section of the Internal Revenue Code that provides for the taking of the proceeds from one life insurance policy or annuity and the reinvesting of these proceeds immediately in another life ...
Covers all employees of a business on a blanket basis with the maximum limit of coverage applied separately to each employee guilty of a crime. ...
Assumption of total disability when an insured loses sight, hearing, speech, or a limb. When such a loss occurs to an insured with disability income insurance, the insurer often assumes ...
Individual retirement account established under the tax reform act of 1986, for a spouse who has unearned income. The maximum annual combined contribution into the worker's and spouse's IRA ...
Ratio of the company's investment in noninvestment grade bonds dividend to its adjusted surplus. This ratio shows how vulnerable the company's surplus is to the market fluctuations in ...
Methods for payment of the value of a policy. An insurance company can select one of three options in settlement of a loss: make a cash payment; take possession of damaged or destroyed ...
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