Dictionary of Law
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insurance :: legal definition


Insurance - n. a contract (insurance policy) in which the insurer (insurance company) agrees for a fee (insurance premiums) to pay the insured party all or a portion of any loss suffered by accident or death. The losses covered by the policy may include property damage or loss from accident, fire, theft or intentional harm; medical costs and/or lost earnings due to physical injury; long-term or permanent loss of physical capacity; claims by others due to the insured's alleged negligence (e.g. public liability auto insurance); loss of a ship and/or cargo; finding a defect in title to real property; dishonest employees; or the loss of someone's life. Life insurance may be on the life of a spouse, a child, one of several business partners or an especially important manager ("key man" insurance), all of which is intended to provide for survivors or to ease the burden created by the loss of a financial contributor. So-called "mortgage" insurance is life insurance which will pay off the remaining amount due on a home loan on the death of the husband or wife. Life insurance proceeds are usually not included in the probate of a dead person's estate, but the funds may be counted by the Internal Revenue Service in calculating estate tax. Insurance companies may refuse to pay a claim by a third party against an insured, but at the same time may be required to assume the legal defense (pay attorney's fees or provide an attorney) under the doctrine of "reservation of rights."

See also: insured insurer reservation uninsured motorist clause Workers' Compensation Acts and Related Law Terms ↓


Related Law Terms

abstract of judgment :: n. a written summary of a judgment which states ho ... aying the debt. See also: levy lien
adjuster :: n. an employee (usually a non-lawyer) of an insura ... e company in approving settlements.
adverse possession :: n. a means to acquire title to land through obviou ... o: possession prescriptive easement
after-acquired property :: n. 1) personal or real property acquired by a debt ... lso: bankruptcy secured transaction
appearance :: n. the act of a party or an attorney showing up in ... neral appearance special appearance
appraise :: v. to professionally evaluate the value of propert ... surance claims. See also: appraiser
arbitration :: n. a mini-trial, which may be for a lawsuit ready ... tance of the arbitrator's decision.
attachment :: n. the seizing of money or property prior to getti ... bond. See also: writ of attachment
Attorney General :: n. in each state and the federal government the hi ... izenry. See also: Solicitor General
attorney-in-fact :: n. someone specifically named by another through a ... cument. See also: power of attorney
attorney's fee :: n. the payment for legal services. It can take sev ... ees in the particular type of case.
attractive nuisance doctrine :: n. a legal doctrine which makes a person negligent ... ch make negligence harder to prove.
bail bond :: n. a bond provided by an insurance company through ... urned. See also: bail bail bondsman
bank :: n. 1) an officially chartered institution empowere ... erred to as "in bank" or "en banc."
bankruptcy :: n. a federal system of statutes and courts which p ... y proceedings trustee in bankruptcy
bar :: 1) n. collectively all attorneys, as "the bar," wh ... a room, building, or real property.
bilateral contract :: n. an agreement in which the parties exchange prom ... also: contract unilateral contract
breach of warranty :: n. determination that a statement as to title of p ... See also: implied warranty warranty
child custody :: n. a court's determination of which parent, relati ... pport custody divorce joint custody
claim :: 1) v. to make a demand for money, for property, or ... the government, it is lawsuit time.
claim against an estate :: n. upon the death of a person and beginning of pro ... ade to the heirs. See also: probate
claim in bankruptcy :: n. the written claim filed by persons or businesse ... : bankruptcy bankruptcy proceedings
class action :: n. a lawsuit filed by one or more people on behalf ... ees usually require court approval.
clean hands doctrine :: n. a rule of law that a person coming to court wit ... ices. See also: affirmative defense
coinsurance :: n. an insurance policy in which the insurance comp ... e insurance company share the risk.
color of title :: n. the appearance of having title to personal or r ... rty based on this "color of title."
commingling :: n. the act of mixing the funds belonging to one pa ... rust accounts for funds of another.
common counts :: n. claims for debt alleged in a lawsuit (included ... so: cause of action complaint count
community property :: n. property and profits received by a husband and ... and distribution separate property
comparative negligence :: n. a rule of law applied in accident cases to dete ... utory negligence damages negligence
complaint :: n. the first document filed with the court (actual ... g prayer service of process summons
condition precedent :: n. 1) in a contract, an event which must take plac ... o the property. See also: condition
condition subsequent :: n. 1) in a contract, a happening which terminates ... Dad Fauntleroy. See also: condition
constitutional rights :: n. rights given or reserved to the people by the U ... e also: Bill of Rights constitution
contingent fee :: n. a fee to a lawyer which will be due and payable ... epend on the outcome are unethical.
contingent interest :: n. an interest in real property which, according t ... ontingent remainder future interest
contract :: 1) n. an agreement with specific terms between two ... n oral contract unilateral contract
contribution :: n. 1) donation to a charity or political campaign. ... f $3,000 from each of his partners.
conversion :: n. a civil wrong (tort) in which one converts anot ... the crime of theft. See also: theft
copyright :: 1) n. the exclusive right of the author or creator ... plagiarism public domain trademark
corporation :: n. an organization formed with state governmental ... ation public corporation securities
court costs :: n. fees for expenses that the courts pass on to at ... ee also: cost bill prevailing party
cross-complaint :: n. after a complaint has been filed against a defe ... g prayer service of process summons
cumis counsel :: n. an attorney employed by a defendant in a lawsui ... fendant be approved by the company.
curtesy :: n. in old common law, the right of a surviving hus ... ommunity property dower life estate
damages :: n. the amount of money which a plaintiff (the pers ... liquidated damages special damages
deed :: 1) n. the written document which transfers title ( ... veyance deed of trust warranty deed
defense attorney :: n. 1) the attorney representing the defendant in a ... lso: defendant plaintiff's attorney
deposition :: n. the taking and recording of testimony of a witn ... See also: deponent depose discovery
disbar :: v. to remove an attorney from the list of practici ... legal ethics. (See moral turpitude
divorce :: 1) n. the termination of a marriage by legal actio ... y separate property spousal support
dominant estate :: n. in real estate law, the property retained when ... See also: easement servient estate
eminent domain :: n. the power of a governmental entity (federal, st ... ngs. See also: condemn condemnation
emotional distress :: n. an increasingly popular basis for a claim of da ... ar value upon it. See also: damages
equity :: n. 1) a venerable group of rights and procedures t ... ry enjoin equitable injunction writ
escrow :: 1) n. a form of account held by an "escrow agent" ... w the deal." See also: escrow agent
escrow instructions :: n. the written instructions by buyer and seller of ... ir agents. See also: closing escrow
estate :: n. 1) all that one owns in real estate and other a ... ife estate probate real estate will
estate tax :: n. generally a federal tax on the transfer of a de ... commonly called an inheritance tax.
evidence :: n. every type of proof legally presented at trial ... material object objection relevant
exchange :: 1) v. to trade or barter property, goods and/or se ... ins tax. See also: delayed exchange
execution :: n. 1) the act of getting an officer of the court t ... so: death penalty writ of execution
extraordinary fees :: n. attorneys' fees claimed, usually in the adminis ... n. See also: attorney's fee probate
file :: 1) v. to deposit with the clerk of the court a wri ... rrespondence and notes on the case.
fraud :: n. the intentional use of deceit, a trick or some ... audulent conveyance intrinsic fraud
free and clear :: adj. referring to the ownership of real property u ... the title has no claim against it.
garnish :: v. to obtain a court order directing a party holdi ... ed. See also: garnishee garnishment
grace period :: n. a time stated in a contract in which a late pay ... the contract, i.e. your insurance.
guarantee :: 1) v. to pledge or agree to be responsible for ano ... as some defect. See also: guarantor
heir :: n. one who acquires property upon the death of ano ... y pretermitted heir succession will
hit and run :: n. the crime of a driver of a vehicle who is invol ... , and then walks back to the scene.
hold harmless :: n. a promise to pay any costs or claims which may ... e other party agrees to cover them.
impound :: v. 1) to collect funds, in addition to installment ... cases. See also: forfeit forfeiture
in propria persona :: adj. from Latin "for one's self," acting on one's ... client and an ass for an attorney."
indenture :: n. a type of real property deed in which two parti ... bind a person to work for another.
injunction :: n. a writ (order) issued by a court ordering someo ... t. See also: injunctive relief writ
insanity :: n. mental illness of such a severe nature that a p ... M'Naughten rule temporary insanity
insured :: n. 1) the person or entity who will be compensated ... s go to others. See also: insurance
insurer :: n. an insurance company which agrees to pay someon ... lled a premium. See also: insurance
interest :: n. 1) any and all, partial or total right to prope ... nal property real property standing
intervene :: v. to obtain the court's permission to enter into ... ntion joinder multiplicity of suits
inverse condemnation :: n. the taking of property by a government agency w ... e also: condemnation eminent domain
joint :: adj., adv. referring to property, rights or obliga ... ncy joint venture tenancy in common
joint tenancy :: n. a crucial relationship in the ownership of real ... ty property tenancy in common title
jury :: n. one of the remarkable innovations of the Englis ... hallenge sequester venire voir dire
jury fees :: n. the rather minimal amount paid each day to juro ... ees as a court cost. See also: jury
laches :: n. the legal doctrine that a legal right or claim ... , breach of contract, fraud, etc.).
land :: n. real property, real estate (and all that grows ... See also: real estate real property
last clear chance :: n. a rule of law in determining responsibility for ... contributory negligence negligence
lease :: 1) n. a written agreement in which the owner of pr ... triple net lease unlawful detainer
leverage :: 1) n. the use of borrowed money to purchase real e ... e been created by risky leveraging.
libel :: 1) n. to publish in print (including pictures), wr ... libel per se public figure slander
lien :: n. any official claim or charge against property o ... ord's lien mechanic's lien mortgage
life estate :: n. the right to use or occupy real property for on ... hter, Sadie, will own the property.
lis pendens :: (lease pen-dense) n. Latin for "a suit pending," a ... ob can be penalized by court order.
literary property :: n. the writings of an author which entitles him/he ... as copyrighted. See also: copyright
living will :: n. also called "a durable power of attorney," it i ... upport. See also: power of attorney
loss of consortium :: n. the inability of one's spouse to have normal ma ... ation. See also: consortium damages
malpractice :: n. An act or continuing conduct of a professional ... eed. See also: errors and omissions
marital deduction :: n. an estate tax deduction allowed a surviving spo ... community property estate tax trust
mechanic's lien :: n. the right of a craftsman, laborer, supplier, ar ... ll sue for the debt. See also: lien
mental anguish :: n. mental suffering which includes fright, feeling ... See also: damages mental suffering
merger :: n. 1) in corporate law, the joining together of tw ... and taking one, and wife the other.
misjoinder :: n. the inclusion of parties (plaintiffs or defenda ... ent transactions. See also: joinder
motion :: n. a formal request made to a judge for an order o ... g, an oral motion may be permitted.
motion for a summary judgment :: n. a written request for a judgment in the moving ... strict procedures. See also: motion
negligence :: n. failure to exercise the care toward others whic ... gence per se res ipsa loquitur tort
no fault insurance :: n: a type of automobile insurance required of car ... ling lawsuits. See also: negligence
nominal party :: n. a defendant or a plaintiff included in a lawsui ... ed. See also: necessary party party
non-contestability clause :: n. an insurance policy provision which requires th ... claim is made by the policyholder.
notice :: n. 1) information, usually in writing in all legal ... Thirty-day notice three-day notice
nuisance :: n. the unreasonable, unwarranted and/or unlawful u ... evening). See also: public nuisance
officer of the court :: n. any person who has an obligation to promote jus ... also: attorney bailiff clerk judge
option :: n. a right to purchase property or require another ... ng or upon expiration of the lease.
plaintiff's attorney :: n. the attorney who represents a plaintiff (the su ... ee also: defense attorney plaintiff
power of attorney :: n. a written document signed by a person giving an ... y, as in a real estate transaction.
prevailing party :: n. the winner in a lawsuit. Many contracts, leases ... ed before or after trial has begun.
pro rata :: (proh rat-ah or proh ray-tah) adj. from Latin for ... e year in which he/she holds title.
probate :: 1) n. the process of proving a will is valid and t ... e also: administrator executor will
promissory note :: n. a written promise by a person (variously called ... lso: interest obligee obligor usury
quiet title action :: n. a lawsuit to establish a party's title to real ... opposition. See also: notice title
real estate :: n. land, improvements and buildings thereon, inclu ... the future. See also: real property
real estate investment trust :: n. nicknamed REIT, a real estate investment organi ... its upon sale-if there is a profit.
real property :: n. 1) all land, structures, firmly attached and in ... onal property real estate reversion
record :: 1) v. (ree-cored) to put a document into the offic ... eeding race to the courthouse trial
remainder :: n. in real property law, the interest in real prop ... ed reversion title vested remainder
risk :: n. chances of danger or loss, particularly of prop ... so: assumption of risk risk of loss
sanction :: n. 1) a financial penalty imposed by a judge on a ... ction." See also: contempt of court
service by mail :: n. mailing legal pleadings to opposing attorneys o ... attorney by mail. See also: service
servient estate :: n. real property which has an easement or other us ... See also: dominant estate easement
settlement :: n. the resolution of a lawsuit (or of a legal disp ... ult in settlement. See also: settle
shortening time :: n. an order of the court in response to the motion ... e notice is served within 24 hours.
statute of limitations :: n. a law which sets the maximum period which one c ... ies. See also: demurrer laches toll
subrogation :: n. assuming the legal rights of a person for whom ... also: negligence subrogee subrogor
subrogee :: n. the person or entity that assumes the legal rig ... aid. See also: subrogation subrogor
subrogor :: n. a person or entity that transfers his/her/its l ... ges. See also: subrogation subrogee
substitution of attorney :: n. a document in which the party to a lawsuit stat ... t any time. See also: substitute in
tax :: n. a governmental assessment (charge) upon propert ... unified estate and gift tax use tax
tax costs :: n. a motion to contest a claim for court costs sub ... sts" to avoid paying these charges.
title insurance :: n. a policy issued by an insurance company guarant ... : chain of title title title search
title report :: n. the written analysis of the status of title to ... lso: abstract title title insurance
title search :: n. the examination of county records for the prope ... e escrow lien title title insurance
tort :: n. from French for "wrong," a civil wrong or wrong ... nce slander trespass wrongful death
transcript :: n. the written record of all proceedings, includin ... unless transcription is requested.
trial :: n. the examination of facts and law presided over ... at a hearing held at a later time.
will :: n. a written document which leaves the estate of t ... will and testament probate testator
Workers' Compensation Acts :: n. state statutes which establish liability of emp ... rs' compensation insurance company.
wrongful death :: n. the death of a human being as the result of a w ... ual beneficiaries (family members).

Popular Law Searches

legal definition ministerial act :: n. an act, particularly of a governmental employee ... exercising any individual judgment.
chancery legal definition :: n. a court that can order acts performed. Today ch ... ts in most states. See also: equity
testamentary disposition legal definition :: n. how the terms of a will divide the testator's ( ... named beneficiaries. See also: will
contract of sufferance :: n. a "hold-over" tenancy after a lease has expired ... y tenancy at will unlawful detainer
forthwith legal definition :: adv. a term found in contracts, court orders and s ... mediacy, with no excuses for delay.
forthwith definition legal :: adv. a term found in contracts, court orders and s ... mediacy, with no excuses for delay.
what is to wit in a legal contract :: prep. that is to say. Example: "the passengers in ... tty Bumgartner and Sherry Younger."
mirror wills legal definition :: n. the wills of a husband and wife which are ident ... d each names the other as executor.
clean hands doctrine latin :: n. a rule of law that a person coming to court wit ... ices. See also: affirmative defense
sine qua non only relates to contract law :: (see-nay kwah nahn) prep. Latin for "without which ... qua non of the injury to Playmate.

Other Law Terms - I

i.e. :: prep. abbreviation for id est, which is Latin for ... "e.g.," which means "for example."
illegal :: 1) adj. in violation of statute, regulation or ord ... . See also: alien illegal immigrant
illegal immigrant :: n. an alien (non-citizen) who has entered the Unit ... ion date of a visa. See also: alien
illusory promise :: n. an agreement to do something that is so indefin ... he may have thought was a contract.
immaterial :: adj. a commonly heard objection to introducing evi ... ons. See also: irrelevant objection
immediately :: adv. 1) at once. 2) in orders of the court or in c ... oon as can be done" without excuse.
immunity :: n. exemption from penalties, payments or legal req ... ws. See also: governmental immunity
impanel :: v. to select and install a jury. See also: impanel ... l a jury. See also: impaneling jury
impaneling :: n. the act of selecting a jury from the list of po ... e juror jury panel venire voir dire
impeach :: v. 1) to discredit the testimony of a witness by p ... ve been found guilty by the Senate.
impeachment :: n. 1) discrediting a witness by showing that he/sh ... the trial itself. See also: impeach
impleader :: n. a procedural device before trial in which a par ... than having two suits in a series.
implied :: adj., adv. referring to circumstances, conduct or ... nt implied consent implied warranty
implied consent :: n. consent when surrounding circumstances exist wh ... aybe" or "later." See also: implied
implied contract :: n. an agreement which is found to exist based on t ... : contract express contract implied
implied covenant of good faith and fair dealing :: n. a general assumption of the law of contracts, t ... -long employment. See also: implied
implied warranty :: n. an assumption at law that products are "merchan ... er. See also: caveat emptor implied
impossibility :: n. when an act cannot be performed due to nature, ... cel) a contract. See also: contract
impotence :: n. the male's inability to copulate. Impotence can ... eans inability to produce children.
impound :: v. 1) to collect funds, in addition to installment ... cases. See also: forfeit forfeiture