Wrongful Act
Error, misstatement, or breach of duty by an officer or director of a company that results in a lawsuit against the company. directors and officers liability insurance covers claims arising from wrongful acts by directors or officers of a company while in that capacity. Wrongful acts specifically exclude dishonesty, theft, libel, and slander. During the liability insurance crisis of the 1980s, this type of coverage became unavailable in many industries as wrongful acts received an increasingly liberal interpretation by the courts and many expensive lawsuits were filed against business firms.
Popular Insurance Terms
Policy not designed to pay the policyowner a dividend. ...
Attributes of a particular employee benefit plan. For example, a general characteristic of group life insurance is that the whole group is underwritten, not individual members. ...
Standard Commercial Property Floater form covering death or damage to livestock as the result of insured perils such as fire, lightning, explosion, smoke, wind, hail, aircraft, earth quake, ...
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Payment to a state or municipality by an insurance company based on premiums paid by residents. ...
Amount of uncertainty in a given situation. Probability that actual experience will be different from what is expected. ...
Earned premium minus incurred losses plus loss adjustment expense plus other incurred underwriting expenses plus policy owner dividends. This income is generated from the insurance business ...
Sample in which the relative sizes of the subpopulation samples are selected in such a manner as to be equal to the relative sizes of the subpopulations. For example, when measuring the ...
Condition surrounding a work environment that increases the probability of death, disability, or illness to a worker. This class of hazard is considered when writing workers COMPENSATION ...
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