Zen Vichaar

  An important feature of liability policies such as D&O or E & O insurances is the prior acts exclusion. Prior acts exclusion in these policies mean that the policy will not cover any claim arising out of an event that occurred before the inception of the policy. The prior acts exclusion feature takes on different implications in each of these insurance policies. It is important to know about the implications before purchasing any liability policy. Let us know more about prior acts exclusion in insurance. This article will cover the meaning, application and implication of the prior acts exclusion in relevant insurance policies. Prior acts exclusion definition in insurance policies Prior acts are defined in insurance policies as the prior claims or circumstances that have resulted from alleged or wrongful acts contained in any claim that has been reported or any circumstances for which notice has been given under a policy which is being purchased. The prior acts exclusion a...

  Insurance policies have a number of clauses, exclusions and conditions. Any person before signing an insurance policy must understand the clauses contained in the insurance policy. One such important clause is the subrogation clause in the insurance policy. Subrogation in an insurance policy is the clause that allows the insurance company to take up a legal pursuit against the third party that has caused the damage to the insured party for which the claim has been made . For instance, if you have taken a car insurance and your car gets damaged in an accident, the subrogation clause gives your insurance company the right to pursue legal action for recovering the cost of damages from the third party that has caused the accident. The insurer can take legal action after paying you the cost of the damages and recover the money from the third party. The subrogation clause applies to fire, marine and non-life policies such as motor insurance, health insurance etc.   One import...