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Author: Barry Zalma Publisher: Independently Published ISBN: 9781098910303 Category : Languages : en Pages : 228
Book Description
The concept of unintended consequences is one of the building blocks of economics. Adam Smith's "invisible hand," the most famous metaphor in social science, is an example of a positive unintended consequence. Most often, however, the law of unintended consequences illuminates the perverse unanticipated effects of legislation and regulation. In 1692 the English philosopher John Locke, a forerunner of modern economists, urged the defeat of a parliamentary bill designed to cut the maximum permissible rate of interest from 6 percent to 4 percent. Insurance is controlled by the courts, through appellate decisions, and by governmental agencies, through statute and regulation. Compliance with the appellate decisions, statutes, and regulations-different in the various states-is exceedingly difficult and expensiveThe business of insurance is, unfortunately, subject to the law of unintended consequences as if it were on steroids.
Author: Barry Zalma Publisher: Independently Published ISBN: 9781098910303 Category : Languages : en Pages : 228
Book Description
The concept of unintended consequences is one of the building blocks of economics. Adam Smith's "invisible hand," the most famous metaphor in social science, is an example of a positive unintended consequence. Most often, however, the law of unintended consequences illuminates the perverse unanticipated effects of legislation and regulation. In 1692 the English philosopher John Locke, a forerunner of modern economists, urged the defeat of a parliamentary bill designed to cut the maximum permissible rate of interest from 6 percent to 4 percent. Insurance is controlled by the courts, through appellate decisions, and by governmental agencies, through statute and regulation. Compliance with the appellate decisions, statutes, and regulations-different in the various states-is exceedingly difficult and expensiveThe business of insurance is, unfortunately, subject to the law of unintended consequences as if it were on steroids.
Author: Barry Zalma Publisher: ISBN: 9781980932406 Category : Languages : en Pages : 120
Book Description
Insurance is, and always will be, a business of the utmost good faith. All parties to the insurance contract agree, in good faith and fair dealing, to do nothing to deprive the other the benefits of the contract.Insurance is, and always be, nothing more than a contract. The insurer makes a promise to the insured that if a contingent or unknown loss occurs caused by a peril or risk insured against and not excluded, to pay the insured indemnity as promised by the contract up to the limits provided.The insured promises to truthfully disclose the risks of loss faced by the insured, property owned by the insured, the business of the insured and/or the insured's liability exposures. The insured also promises to honestly present a claim, prove the claim, and cooperate with the insurer in its investigation.If the parties to the insurance contract deal with each other fairly and in good faith the policy remains viable, claims are paid promptly and to the satisfaction of the insurer and the insured. Only if a true tort occurs can the insured waive the contract action and sue in tort.Breach of contract, by centuries old tradition, is not a tort and cannot and should not be considered a tort. The Tort of Bad Faith has served its purpose and is now causing more problems than it solves. It is time the courts and state legislatures rescind the tort and return to common law contract damages.
Author: Barry Zalma Esq Publisher: ISBN: Category : Languages : en Pages : 182
Book Description
INSURANCE AS A NECESSITYNeither the courts nor the governmental agencies seem to be aware that in a modern, capitalistic society, insurance is a necessity. No prudent person would take 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 spread the risk, taking the risk to start a business, buy a home, or drive a car becomes possible.Insurance has existed since a group of Sumerian farmers, more than 5,000 years ago, scratched an agreement on a clay tablet that if one of their number lost his crop to storms, the others would pay part of their earnings to the one damaged. Over the eons, insurance has become more sophisticated, but the deal is essentially the same. An insurer, whether an individual or a corporate entity, takes contributions (premiums) from many and holds the money to pay those few who lose their property from some calamity, like fire. The agreement, a written contract to pay indemnity to another in case a certain problem, calamity, or damage that is fortuitous, that is that occurs by accident, is called insurance.In a modern industrial society, almost everyone is involved in or with the business of insurance. They insure against the risk of becoming ill, losing a car in an accident, losing business due to fire, becoming disabled, losing their life, losing a home due to flood or earthquake, or being sued for accidentally causing injury to another. The insurers, insureds, or people damaged by those insured are dependent on one another.In a country where human interactions are governed solely by the terms of written contracts, insurance would be a simple means of spreading risk and providing indemnity based on the promises made by the contract of insurance. But, in this the real world, insurance contracts are controlled by statutes enacted to ostensibly protect the consumer of insurance, regulations imposing obligations on the conduct of insurers and the decisions of trial and appellate courts interpreting insurance contracts.A simple insurance contract between two parties might say: "I insure you against the risk of loss of your engagement ring valued at $15,000 by all risks of direct physical loss except wear and tear for a premium paid by you of $15.00." Anyone who could read would understand that contract. If something happens to damage, destroy or lose the ring the insurer will pay you $15,000.00. However, insurers cannot write such a simple contract because the state requires many terms and conditions that complicate the policy wording and confuse the common person. The states and courts that did so had nothing but good intentions to protect the consumer against the insurer and control the actions of the insurer.The tort of bad faith was created because courts felt that insurers treated their insureds badly and defeated the purpose for which insurance is acquired. It has served its purpose. Fair Claims Settlement Practices laws and regulations are now available to control insurers who do not act in good faith. Insurance fraud statutes and Regulations provide assistance to insurers who have been deceived by those they insure or who are victims of attempted insurance fraud.It is time that all contracts, including insurance contracts, are treated like any other contract, and insureds who believe the insurer breached the contract of insurance can sue to recover the benefits promised by the policy. Insurers, who act unfairly can be controlled by the state Departments of Insurance who will deter wrongful conduct by fines and other discipline allowed by the Fair Claims Settlement Practices laws and regulations.
Author: American Bar Association. House of Delegates Publisher: American Bar Association ISBN: 9781590318737 Category : Law Languages : en Pages : 216
Book Description
The Model Rules of Professional Conduct provides an up-to-date resource for information on legal ethics. Federal, state and local courts in all jurisdictions look to the Rules for guidance in solving lawyer malpractice cases, disciplinary actions, disqualification issues, sanctions questions and much more. In this volume, black-letter Rules of Professional Conduct are followed by numbered Comments that explain each Rule's purpose and provide suggestions for its practical application. The Rules will help you identify proper conduct in a variety of given situations, review those instances where discretionary action is possible, and define the nature of the relationship between you and your clients, colleagues and the courts.
Author: Julian Burling Publisher: Edward Elgar Publishing ISBN: 1802205896 Category : Law Languages : en Pages : 933
Book Description
This thoroughly revised second edition of the Research Handbook on International Insurance Law and Regulation provides an updated assessment of the insurance industry in an international context, featuring 30 chapters, of which half are new for this edition, written by expert academics and practising lawyers.
Author: Daniel Schwarcz Publisher: Edward Elgar Publishing ISBN: 1782547142 Category : Law Languages : en Pages : 549
Book Description
The fields of insurance law and insurance economics have long and distinguished scholarly histories, but participants in the two disciplines have not always communicated well across academic silos. This Handbook encourages more policy-relevant insurance e
Author: JR. Robert F Tyson Publisher: ISBN: 9781948792028 Category : Law Languages : en Pages : 222
Book Description
This is the first book ever written for the defense on how to avoid runaway jury verdicts. I wrote this book because I care about fairness. I believe everyone has the right to a fair trial, not just plaintiff lawyers and their clients. Defendants are entitled to have a jury decide their case without being stirred with passion and bias by creative plaintiff lawyers. This is the defense "playbook" for justice. You will learn trial techniques to even the playing field for defendants seeking a fair trial. Every aspect of a civil jury trial will be covered, from voir dire to opening statements to witnesses and finally closing arguments. There is a formula for defeating plaintiff attorneys' deceptive tactics and psychological gamesmanship, and you will learn it. While full of 30 years of trial victories and personal experiences, this is a "how to" book. How to defend at trial. How to beat plaintiff attorneys at their own game. How to win. It is time to bring an end to the epidemic of nuclear verdicts across our country. It is time for you to take back justice for all! NUCLEAR VERDICTS MUST BE STOPPED! YOU CAN STOP THEM. RESPONSIBILITY. In every jury trial, accepting responsibility is not only the right thing to do, it is the most important thing you will do, no exceptions. Own what you did in every single jury trial, no excuses. REASONABLENESS. Be the most reasonable person in the courtroom. Do not take the typical defense approach of fighting every little thing. Show the jury you care, and they will return a verdict that is fair and just for all. COMMON SENSE. The ultimate equalizer in any case is common sense. It allows the jury to come to a conclusion that is fair and reasonable. You must go beyond the evidence and the law, and help the jury apply their common sense for a righteous verdict.
Author: Barry Zalma
Author: Barry Zalma
Author: Barry Zalma
Author: Barry Zalma Esq
Author: American Bar Association. House of Delegates
Author: Julian Burling
Author: Daniel Schwarcz
Author: JR. Robert F Tyson
Author: California (State).
Author: 
Author: