Risk Management and Insurance

5.

Insurance Contract Law

5.1.

Legal Characteristics

5.1.1.

Aleatory Contract

5.1.1.1.

Unequal Exchange

5.1.1.2.

Conditional Performance

5.1.1.3.

5.1.2.

Unilateral Contract

5.1.2.1.

Insurer Obligations

5.1.2.2.

Insured Conditions

5.1.2.3.

Performance Requirements

5.1.3.

Conditional Contract

5.1.3.1.

Conditions Precedent

5.1.3.2.

Conditions Subsequent

5.1.3.3.

Condition Compliance

5.1.4.

Personal Contract

5.1.4.1.

Individual Risk Assessment

5.1.4.2.

Non-Transferability

5.1.4.3.

Assignment Restrictions

5.1.5.

Contract of Adhesion

5.1.5.1.

Standard Form Contracts

5.1.5.2.

Ambiguity Interpretation

5.1.5.3.

Reasonable Expectations Doctrine

5.2.

Contract Formation

5.2.1.

Offer and Acceptance

5.2.2.

5.2.3.

5.2.4.

5.2.5.

Binder Coverage

5.2.6.

Policy Issuance

5.3.

Policy Structure and Components

5.3.1.

Declarations Page

5.3.1.1.

5.3.1.2.

5.3.1.3.

Coverage Limits

5.3.1.4.

Premium Information

5.3.1.5.

5.3.2.

Definitions Section

5.3.2.1.

5.3.2.2.

Interpretation Guidelines

5.3.2.3.

Scope Clarification

5.3.3.

Insuring Agreement

5.3.3.1.

Coverage Promise

5.3.3.2.

5.3.3.3.

Covered Property

5.3.3.4.

Covered Persons

5.3.4.

5.3.4.1.

General Exclusions

5.3.4.2.

Specific Exclusions

5.3.4.3.

Rationale for Exclusions

5.3.5.

5.3.5.1.

Policy Conditions

5.3.5.2.

Loss Conditions

5.3.5.3.

General Conditions

5.3.6.

Endorsements and Riders

5.3.6.1.

Coverage Modifications

5.3.6.2.

Additional Coverages

5.3.6.3.

Restriction Additions

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4. Legal Foundations of Insurance

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6. Commercial Insurance Lines