Insurance--03Change Of Beneficiary/policy Exclusions

Front 1

Right to Change a Beneficiary

Back 1

insured has a right to change beneficiary of a life insurance policy.

--Absent a waiver, as long as the insured substantially complies with the method the policy procribes for changing the beneficiary, the courts will enforce the change.

Front 2

K not to change the benficiary

Back 2

-usually arises in family law situations
-insured can enter into a K not to chang the beneficiary even if the inital policy allows it

Front 3

Policy exclusions--Notice

Back 3

Insured must have notice of restrictions or limitations on coverage in order for them to be binding
-notice provided when insurer specifically excludes the otherwise covered loss.

Front 4

burden of proof

Back 4

insurer must show a causal connection between a loss and an exclusion before the exclusion will limit coverage under the policy.

Front 5

business pursuits exclusion

Back 5

provider must prove:
1. continuity
2. profit motive

Front 6

ambiguous policy exclusion?

Back 6

must contrue in favor of alllowing coverage for the insured.

Front 7

internal inconsistencies created by exclusions

Back 7

when an exclusion purports to bar coverage for claims arising out of the very operation sought to be insureds creates an internal inconsistency.

This internal inconsistency renders the policy ambiguous thus a court must resolve the ambiguity in favor of coverage.

Front 8

Isle of Palms

Back 8

Insured purchases liability policy to protect against claims for damage to property of others caused by negligence. There was a professional liability exclusion. The court found that to give effect to the exclusion would render the policy virtually meaningless. because it would exclude coverage of all claims arising from the insured's exterminating services, the very risk contemplated by the parties. Thus court resolved ambiguity in favor of coverage.

Front 9

Waites--member of household test

Back 9

Three factors:
1. living under the same roof
2. in a close and intimate relationship
3. intended duration of relationship is intended to be substantial where is is consistent with the informality of the relationship, and from which it is reasonable to conclude that the parties would consider the relationship in contracting about such matters as insurance or in their conduct in reliance thereon p.19

Front 10

Auto mobile policies--working in the business of servicing automobiles exclusion

Back 10

an exclusion in an auto policy denying coverage for an individual using a covered vehicle "while working in the business of servicing automobiles" is invalid

Front 11

Automobile policies-insured defined--omnibus clause

Back 11

insured--any person who uses with the consent, expressed or implied, of the named insured, the motor vehicle to which the policy applies.