Assured is a British term meaning “insured”. This terminology may be used, among other things, in policies and approvals written in the London and Bermuda markets.
Assurer is a British term meaning insurer or underwriter, depending on the context. This terminology may be used, among other things, in policies and approvals written in the London and Bermuda markets.
The basis of the application is a provision in reinsurance contracts that determines whether and how a particular loss is covered by a reinsurance contract.
A point of attachment is a point at which excess insurance or reinsurance limits apply. For example, a captive hold might be $250,000; this is the “point of attachment” at which excess reinsurance limits will apply.
Attorney’s Work Products are documents prepared by or at the direction of an attorney in accordance with an attorney-client relationship or in support of pending or proposed litigation.
The nuisance attractiveness doctrine is a notable exception to the law regarding offenders, which imposes a special duty of care on a person who maintains artificial conditions on the ground that attract children (such as a swimming pool). Under the doctrine of attractive nuisance, children enjoy the status and protection of invitees. In some cases, the landowner was held absolutely liable for harming children due to an attractive nuisance, even if the children were the perpetrators.
An auction rate security (ARS) is a type of long-term bond issued by a corporation or municipality. ARS differ from traditional bonds in one key respect: instead of paying a fixed interest rate for a long time (for example, a minimum of 10 and sometimes 30 years), the ARS interest rate is often “dumped” through a process known as a Dutch auction. , which is held every 7, 28 or 35 days. At every Dutch auction, ARS holders are given the opportunity to sell ARS. ARS issuers/borrowers benefit because ARS can provide them with long-term financing, but at significantly lower rates than traditional long-term bonds. Buyers of ARS benefit because, given their short-term nature, ARS offers money market fund liquidity, but at a higher rate of return. But in February 2008, several Dutch auctions “failed” due to a lack of buyers, as a result of which ARS investors’ money was frozen in their accounts. As a result, many investors filed class-action lawsuits against banks and brokerages that encouraged them to invest in ARS.