Examlex
Why are centralization and decentralization, delegation, and authority the key ingredients in establishing the decision-making hierarchy?
Subrogation
The legal process by which one party, such as an insurer, assumes another's legal right to collect a debt or damages after having paid for the loss.
Insurance Law
The body of law governing the business of insurance, including the regulation of policies, claims, and the contractual obligations of parties.
Insurable Interest
A real and substantial interest in specific property or in someone’s life.
Insured-against Event
A specific occurrence or risk covered under an insurance policy, for which the insurer agrees to compensate the insured party if it happens.
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