Fundamental Legal Principles of Insurance

4.1- What are the fundamental legal principles that are reflected in insurance contracts, including the:

A- Principle of Indemnity

B- Principle of Insurable Interest

C- Principle of Subrogation

D- Principle of Utmost Good Faith

4.2- How do the Legal Concepts of Representations. Concealment, and Warranty support the principle of utmost good faith?

4.3- What are the basic requirements for the formation of a valid Insurance Contract?

4.4- How does the Insurance contract differ from other contracts?

4.5- What is the "Law of Agency" and how does it affect the actions of Insurance Agents?

4.6- What is Actual Cash Value?

4.7- What is Aleatory Contract?

4.8- What is "apparent authority"?

4.9- What is "Binder"?

4.10- What is "Commutative contract"?

4.11- Who are the "Competent Parties"?

4.12- What is "Concealment"?

4.13- What is a "conditional contract"?

4.14- What is conditional premium receipt?

4.15- What is "Consideration"?

4.16- What is "contract of adhesion"?

4.17- What is "Estoppel"?

4.18- What are "Expressed Powers"?

4.19- What are "Implied Powers"?

4.20- What is Innocent representation?

4.21- What is "Insurable Interest"?

4.22- What is a "Legal Purpose"?

4.23- What is "Material Fact"?

4.24- What is "Offer and Acceptance"?

4.25- What is "Personal Contract"?

4.26- What is "Principle of Indemnity"?

4.27- What is "Principle of reasonable expectations"?

4.28- What is "Replacement cost Insurance"?

4.29- What are "Representations"?

4.30- Who are "Secured Creditors"?

4.31- What is "Subrogation"?

4.32- What is "Unilateral Contract"?

4.33- What is "utmost good faith"?

4.34- What is "Valued Policy"?

4.35- What are "Value Policy Laws"?

4.36- What is a Waiver?

4.37- What is Warranty?

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