full prior acts coverage definition
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Prior Acts Coverage Is an Essential Component of a Claims-Made Policy The coverage in effect between the retroactive date of the policy and the expiration of the policy is referred to as “prior acts coverage” because it provides protection to the firm for claims arising out of legal services provided before the effective date of the policy.
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Prior Acts Coverage Is an Essential Component of a Claims-Made Policy If you have questions about prior acts coverage and/or professional liability insurance, contact our office at info@intelisure.com or (800) 242-7250. One of the most difficult concepts for purchasers of professional liability insurance to grasp is the meaning of “ prior acts coverage ” and “ claims-made policies ..
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- 1 Describe the Full Faith and Credit Clause and identify the three ways that it can be used. 2  Define procedural laws and substantive laws.  Give an example of a case the Full Faith and Credit Clause would apply to.
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full faith and credit full faith and credit. 1. the obligation under Article IV of the U.S. Constitution for each state to recognize the public acts, records, and judicial proceedings of every other state.
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Extended coverage From Wikipedia, the free encyclopedia. Extended coverage is a term used in the property insurance business. All insurance policies have exclusions specific causes of loss (also called perils) that are not covered by the insurance company. An extended coverage endorsement (EC) was a common extension of property insurance beyond coverage for fire and lightning. Extended coverage added insurance against loss by the perils of windstorm, hail, explosion, civil commotion, riot and riot attending a strike, aircraft damage, vehicle damage, and smoke damage.
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Principles of Insurance - 7 Basic General Insurance Principles 1. Principle of Uberrimae fidei (Utmost Good Faith). Principle of Uberrimae fidei (a Latin phrase), or in simple english words, the Principle of Utmost Good Faith, is a very basic and first primary principle of insurance.
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Res gestae Res gestae (Latin things done) is a term found in substantive and procedural American jurisprudence and English law. In American substantive law, it refers to the start-to-end period of a felony.
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- reinsurance practices. Two main types of treaties exist—pro rata and excess-of-loss treaties. In the former, all premiums and losses may be divided according to stated percentages. In the latter, the originating insurer accepts the risk of loss up to a stated amount, and above this amount the reinsurers divide any losses.
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Patent Glossary prior art All information available to the public prior to a given date relevant to a patent application (like the date of invention, or date of filing). If an invention is contained in the prior art, it will not be granted a patent.
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preauthorization pre·auth·or·i·za·tion. In the U.S., authorization of medical necessity by a primary care physician before a health care service is performed. A referring health care provider must be able to document why the procedure is needed. It still does not guarantee coverage.
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Definition personal injury (PI) Under general liability coverage, a category of insurable offenses that produce harm other than bodily injury (BI). As covered by the 1986 commercial general liability (CGL) policy, PI includes: false arrest, detention, or imprisonment; malicious prosecution; wrongful eviction; slander; libel; and invasion of privacy.
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Prior Restraint prior restraint. n. an attempt to prevent publication or broadcast of any statement, which is an unconstitutional restraint on free speech and free press (even in the guise of anti-nuisance ordinance).
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17.1.1 Mandatory Provisions Entire Contract. The entire contract provision states that the insurance policy represents the contract between the insurer and the policyowner in its entirety, assuring the policyowner that no changes to the contract can be made once the contract has been issued. This clause in health insurance policies is the same as in life insurance policies.
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- Main article: Full Faith and Credit Clause. Full Faith and Credit shall be given in each State to the public Acts, Records, and judicial Proceedings of every other State. And the Congress may by general Laws prescribe the Manner in which such Acts, Records and Proceedings shall be proved, and the Effect thereof.
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- Article IV, Section 1. An essential purpose of the Full Faith and Credit Clause is to assure that the courts of one state will honor the judgments of the courts of another state without the need to retry the whole cause of action. It was an essential mechanism for creating a union out of multiple sovereigns.
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D&O Insurance: Prior and Pending Litigation Exclusion Bars Coverage for Lawsuit Filed Years Before But Served During the Current Policy Period I can think of several possible solutions. The first is that the prior and pending litigation exclusion could be amended to provide that the exclusion does not apply to False Claims Act complaints that were filed but not served prior to the effective date of the policy.
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- The principle of utmost good faith. 1.2 As one of the most important features of insurance law is the principle of utmost good faith that imports a duty of disclosure, this account will start with consideration of that before looking at misrepresentation and the basis of the contract clause.
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Enabling Act of 1933 The Enabling Act (German: Ermaechtigungsgesetz) ermächtigungsgesetz was a 1933 Weimar constitution amendment that gave The German – cabinet in, Effect Chancellor Adolf – hitler the power to enact laws without the involvement of The. reichstaghe act stated that it was to last four years unless renewed by the Reichstag, which occurred twice. The Enabling Act gave Hitler plenary powers. It followed on the heels of the Reichstag Fire Decree, which abolished most civil liberties and transferred state powers to the Reich government.
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Full Faith and Credit Clause Full Faith and Credit Clause. A state must recognize the validity of the public acts, records, and court decisions of other states.
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Definition employment practices liability insurance (EPLI) A type of liability insurance covering wrongful acts arising from the employment process. The most frequent types of claims covered under such policies include: wrongful termination, discrimination, sexual harassment, and retaliation.
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Full Faith and Credit Clause Article IV, Section 1 of the United States Constitution, known as the Full Faith and Credit Clause, addresses the duties that states within the United States have to respect the public acts, records, and judicial proceedings of every other state. According to the Supreme Court, there is a difference between the credit owed to laws (i.e. ...
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DEFINITION of 'Prior Acts Coverage' A commercial liability policy with extended global coverage. ... An insurance policy that provides coverage when a claim is made ... A feature of an insurance policy that extends the coverage of ... An event that can result in the filing of an insurance claim.
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- What happens if your tierod pops off on hwy? Were having a little friendly debate, nobody is hammered enough to try it yet. The question is what happens, what if your going into a corner and only one tire will steer? I guess it depends on other factors like caster. __________________. The less we take care of our neighbors, the more $ U.Sam will take to screw up trying to do our job.
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Full Faith and Credit Clause The wording of this clause was closely followed by the framers of the Constitution of Australia, namely, in Section 118 of the Constitution of Australia. 1  Franchise Tax Board v. Hyatt, 538 U.S. 488, 494 (2003), quoting Baker v. 2  See Robert Jackson, Full Faith and Credit: The Lawyer's Clause of the Constitution (1945).
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Definition named perils coverage. A property insurance term referring to policies that provide coverage only for loss caused by the perils specifically listed as covered. It contrasts with all risks coverage, which applies to loss from all causes not specifically listed as excluded.
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Article Four of the United States Constitution From Wikipedia, the free encyclopedia. Full Faith and Credit shall be given in each State to the public Acts, Records, and judicial Proceedings of every other State. And the Congress may by general Laws prescribe the Manner in which such Acts, Records and Proceedings shall be proved, and the Effect thereof. The first section requires states to extend full faith and credit to the public acts, records and court proceedings of other states.