Property can be assigned many “values” depending on the purpose of the valuation and who is valuing it. Some examples include: The amount for which the property could be sold; known as “market value.” Market value is what a willing buyer will pay a willing seller. What an expert thinks it’s worth. In simple terms,…
Liability policies, whether the HO, PAP or CGL, respond when the insured is judged to be “legally liable” for the injury or damage. But how is “legal liability” determined? That is the question answered in this short article.
Insurance (or assurance), as we understand the concept today, is more than 700 years old. But what events shaped our modern world of insurance? Following are some interesting facts, myths, and legends that helped mold the current insurance world in America.
