See the full video at https://youtu.be/UedkY_vqdF0  In a typical contract, a party has an obligation to perform (art build a building, deliver goods, convey real the other the party may be liable to pay money.Criminal of the artist may take the form of non-performance, non-performance or delay in performance.The main purpose of damages for breach of contract is to protect the promising expected interest of the issuer.Compensation should put the plaintiff in an equal good position as if the defendant had performed entirely under the contract. Damages shall never give any profit to the non-infringing party.
Insurance is nothing but a contract where the insurer promises to defend or reimburse an insured as a result of a conditional or unknown event that causes damage to the property of the property. policyholder or damage to third party caused by the policyholder.
Insurance, as well as all parts of the mod society, are subject to deprivation of the law of unintended consequences. In the United States alone, insurers pay more than $ 1.2 trillion in premiums, and insurers pay in damages as much or more than they collect. The profit margins are small because the competition is fierce and a year of profit can be lost for a single firestorm, earthquake, hurricane, flood or unexpected incredible legal process.
Neither the courts nor the state authorities seem to be aware that in a modern, capitalist society, a sound and viable insurance industry is a necessity. No person takes the risk of starting a business, buying a home or driving a car without insurance. The risk of losing everything would be too great. By using insurance to distribute the risk among all costs to take the risk of starting a business, buying a home or driving a car, it becomes possible. The insured are dependent on their insurance company to take the risk that the insured is not willing to take alone.
Insurance contracts can be simple or very complicated, depending on the risks taken by the insurer. Regardless, insurance is just a contract whose terms are agreed by the parties to the agreement where each gives promises to each other.
In recent centuries, almost every word and phrase used in insurance contracts has been interpreted and applied by one or another court. Ambiguity in the language of the contract became certain. But the average person saw the insurance contract as incomprehensible and impossible to understand.
© 2020 – Barry Zalma
Barry Zalma, Esq., CFE, now limits his practice to working as an insurance consultant specializing in insurance coverage, insurance claims handling, unfaithful insurance and near-insurance insurance fraud. and policyholders. He also acts as an arbitrator or mediator for insurance-related disputes. He practiced law in California for more than 44 years as an insurance coverage and claims lawyer and more than 52 years in the insurance industry. He is available at http://www.zalma.com and firstname.lastname@example.org.
Mr. Zalma is the first recipient of the first annual Claims Magazine / ACE Legend Award.
For the past 52 years, Barry Zalma has devoted his life to insurance, insurance claims and the need to defeat insurance fraud. He has created the following library of books and other materials to enable insurers and their claims staff to become insurance claims staff.
https://zalma.com/zalmas-insurance-fraud-letter-2/ Last read two issues of ZIFL here.
Go to Barry Zalma videos on Rumble.com at https://rumble.com/c/c-262921  Read posts from Barry Zalma at https://parler.com/ profile / Zalma / inlägg
Listen to Podcast: Zalma om försäkring https://anchor.fm/dashboard/episodesZalma om försäkring
Go to Barry Zalma on YouTube- https://www.youtube.com/channel/UCysiZklEtxZsSF9DfC0Expg/  -claims-bibliotek /
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