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Fortuity Doctrine | Zalma about insurance



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Fortuity Doctrine derives from basic concepts such as insurance based on: that insurance covers risks, not losses that the insured planned, intended or anticipated. It has always been the opinion of insurance companies that losses that the insured expected could not be insured. Doing so would have a counterproductive effect. No one would buy insurance until they were sure they would have a loss. The concept of spreading the risk on which the insurance is based would be defeated.

An accident or event is never present when the insured performs an intentional act unless further, unexpected, independent and unforeseen events occur that cause the damage. when the damage was caused by the insured's manufacture and sale of products, the manufacture and sale of products was without proper intentional and intentional acts, and there were no further, unexpected, independent and unforeseen events that caused the infringement alleged by the plaintiff or liability for damages. The court concluded that the conduct giving rise to the underlying measure was not an "accident" or an "event" within the coverage provision. Since there was no potential basis for coverage, there is no obligation to defend. 6

The Loss-In-Progress rule codifies a basic principle in insurance law that an insurer cannot insure against a loss that is known or obvious to the insured. (See Bartholomew v. Appalachian Ins. Co . (1st Cir. 1981) 655 F.2d 27, 28-29.) The general political rule is based on the view that the insurer should be held liable for a progressive and ongoing loss of property that was discovered before the carrier insured the risk would be to impose on the insurer a guarantee for the good quality of the insured property, which liability according to the insurance the insurer had not assumed. ( Greene v. Cheetham (2d Cir. 1961) 293 F.2d 933, 937.)

I Montrose Chemical Corp. against Admiral Ins. Co. (1995) 10 cal. 4e 645, 691, 693 where the occurrence and extent of the damages were unknown from the insured's "point of view", coverage of continuous or gradually deteriorating property damage according to a CGL policy did not violate the loss-in-progress rule.

The Fortuity Doctrine or "Loss in Progress" rule, where damages began to occur before the policy started, requires that by law no part of the loss is insured against. (See EG, Summers v. Harris (5th Cir. 1978) 573 F.2d 869, 872; Presley v. National Flood Insurers Association (ED Mo. 1975) 399 F. .. Supp. 1242. Fortuity Doctrine prevents only one party from insuring against a loss that has occurred or is likely to occur within the policy. (See EC, Sabella v. Wisler (1963) 59 Cal. 2d 21, 34 [27 Cal. Rptr. 689, 377 P.2d 889]; Standard Structural Steel v. Bethlehem Steel Corp . (D.Conn. 1984) 597 F.Supp. 164, 193; Essex House v. St Paul Fire & Marine Insurance Co. . (SD Ohio 1975) 404 F.Supp. 978, 988-990; Avis v. Hartford Fire Insurance Company (1973) 283 NC 142 [195 S.E.2d 545, 548].)

Everyone involved in the insurance industry must understand the doctrine of happiness. Without happiness insurance, it makes no sense.


© 2021 – Barry Zalma

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by Barry Zalma | 2 Sep 2021

Kindle $ 9.95 Available Directly

Hardcover, $ 35.95

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This is the fifth part of a treaty on insurance claims consisting of a series of ten books, of which this is the latest addition to Barry Zalma's insurance claims dissertation Dissertation that will be the most thorough, current, expertly written insurance guide available today. lawyer, consultant, expert witness and blogger, Zalma on Insurance Claims provides in-depth explanations, analyzes, examples and detailed discussion of property insurance claims; Claims from third parties; Claims; and insurance fraud.

Thorough, yet practical, this fifth part of the ten-part dissertation is the perfect guide for any professional working in or frequently interacting with the insurance industry. Claims staff, risk managers, producers, insurers, lawyers (both plaintiffs and defenders) and entrepreneurs will benefit greatly from the ten volume dissertation. It is also the perfect resource for insurance educators, educators and students whose role requires an understanding of insurance law.

When you read through the various volumes of Zalma on insurance claims, you will find extensive – but understandable – coverage of key topics that cover all property, accident and liability insurance.

Contents

Chapter 1 Examination of liability claims.

Chapter 2 Errors and omissions and the demands made and reported policies [19659005] Chapter 3 Rule on message prejudices.

Chapter 4 Types of damages.

Chapter 5 Liability claims.

Chapter 6 Obligation to defend.

Chapter 7 Tests to establish the obligation to defend:

Chapter 8 Extent of the duty to defend.

Chapter 9 Reasons to reject insurance or compensation.

Appendix 1 Form letter to expert

Appendix 2 Form letter to independent physician

Appendix 3 Non Waiver Ag reements

Appendix 4 form letter: repeal of car policy.

appendix 5 form letter: notice of termination and denial

appendix 6 form letter: advice on the right to valuation

appendix 7 form letter: booking of rights To the insured.

Appendix 8 Form Letter: Reservation of Rights Letter B.

Appendix 9 Authorization Form

Appendix 10 California Actual Cash Value Statute.


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