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Hand-Book of Adjustments of Loss or Damage by Fire; For the Use of Fire Underwriters

Hand-Book of Adjustments of Loss or Damage by Fire; For the Use of Fire Underwriters


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This historic book may have numerous typos and missing text. Purchasers can download a free scanned copy of the original book (without typos) from the publisher. Not indexed. Not illustrated. 1877 Excerpt: ...of the securities held, or the rights of recovery against other parties; in which case the insurer becomes subrogated to all such rights as above recited, and can proceed to recover the amount paid, in the name of the insured, but at the expense of the insurer. Or the insured may proceed to realize upon the securities, or sue upon his rights of recovery from other parties before making a claim upon the insurer; in which case such claim will be diminished by the amount received from the first-named sources. If the amount paid for loss under an insurance does not equal the amount of the claims or securities thus subrogated, the insurer, by paying the whole amount of such claim or securities, will be entitled to the whole of such claims or securities and to all of the rights of the insured therein and thereunder. CONTESTED CLAIMS. (Text Book, Page 622). It is the duty of the adjuster to attempt to harmonize all misunderstandings before resorting to the uncertainties of courts of law; and not unfrequently is he constrained to allow and pay claims which he is morally convinced are unjust, if not fraudulent, rather than commit the interest of his company to the verdict of a jury. When mere questions of law arise, and the matter can be submitted for the decisions of the courts without the intervention of juries, the underwriter may stand an equal chance with the insured. But until juries recognize that insurance companies have rights which they are bound to respect, insurance companies will find it to their interests to continue to compromise doubtful and unpromising claims rather than run the risk of heavy court and counsel fees in addition to the payment of the claim at the termination of a vexatious lawsuit. GARNISHEE. Tact Book, Page 443). Garnishee as connect...


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Product Details
  • ISBN-13: 9781231006207
  • Publisher: Rarebooksclub.com
  • Publisher Imprint: Rarebooksclub.com
  • Height: 246 mm
  • No of Pages: 54
  • Spine Width: 3 mm
  • Width: 189 mm
  • ISBN-10: 123100620X
  • Publisher Date: 01 May 2012
  • Binding: Paperback
  • Language: English
  • Returnable: N
  • Weight: 113 gr

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Hand-Book of Adjustments of Loss or Damage by Fire; For the Use of Fire Underwriters
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