March 2016
Intermediate to advanced
700 pages
144h 54m
English
Content preview from Principles of Risk Management and Insurance, 13th EditionBecome an O’Reilly member and get unlimited access to this title plus top books and audiobooks from O’Reilly and nearly 200 top publishers, thousands of courses curated by job role, 150+ live events each month,
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Other-Insurance Provisions
Other-insurance provisions typically are present in property and casualty insurance and health insurance contracts. These provisions apply when more than one contract covers the same loss. The purpose of these provisions is to prevent profiting from insurance and violating the principle of indemnity. If the insured could collect the full amount of the loss from each insurer, there would be profiting from insurance and a substantial increase in moral hazard. Some dishonest insureds would deliberately cause a loss to collect multiple benefits.
Some important other-insurance provisions in property and liability insurance include (1) the pro rata liability clause, (2) contribution by equal shares, and (3) primary and excess ...
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I’ve been on the O’Reilly platform for more than eight years. I use a couple of learning platforms, but I'm on O'Reilly more than anybody else. When you're there, you start learning. I'm never disappointed.Amir M.
I'm always learning. So when I got on to O'Reilly, I was like a kid in a candy store. There are playlists. There are answers. There's on-demand training. It's worth its weight in gold, in terms of what it allows me to do.