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
Figure used in calculating a worker's primary insurance amount (PIA) to determine Social Security benefits in the following manner: calculate the number of years between the worker's ...
Provision found in current assumption whole life insurance policies under which the insurance company retains the contractual right to recalculate the premium (after a minimum period of ...
Requirement of state approval of property insurance rates and policy forms before they can be used. Individual states regulate insurers and approve their rates. There are three methods of ...
Eligible rollover distribution that is paid directly from an employee's employee benefit insurance plan to the employee's individual retirement account (IRA) or to another plan maintained ...
Pre-determined dollar amount up to which an insurance policy will cover an insured each year, regardless of the number of claims submitted or defense costs associated with these claims. For ...
In health insurance, the number of days for which benefits are paid to the named insured and his or her dependents. For example, the number of days that benefits are calculated for a ...
Bonds sold at a discount from their face value; accumulated interest paid at maturity, as in the case of zero coupon bonds. Interest rate minimum is guaranteed with the prevailing interest ...
Expense of recovering property by a salvor. Salvage charges are not provided for in insurance contracts. If the owner and the salvor cannot agree on salvage charges, a court makes a ...
Plan to which contributions are not being made, but which has not been formally terminated. The freezing of a keogh plan (hr-10) may occur in the following circumstances: self-employed ...
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