Showing 265–276 of 597 resultsSorted by latest
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Skill Bit
€ 50.00
This Skill Bit explains the importance of understanding limited defects coverage in insurance policies, which may leave repair costs uncovered for post-policy defects. It discusses solutions like negotiating additional coverage or obtaining separate defects liability policies. Additionally, it explores Engineering All Risks (EAR) and Warranty policies that offer comprehensive coverage for construction-related risks, emphasizing the…
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Skill Bit
€ 50.00
This Skill Bit outlines key aspects of property damage insurance, which protects physical assets from damage due to fire, theft, vandalism, and natural disasters, including business interruption coverage for lost income. It emphasizes the claims process, requiring evidence of damage for insurer investigation. Additionally, it covers defects insurance for builders, addressing structural damage and faulty…
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Skill Bit
€ 50.00
This Skill Bit explores key concepts in property damage insurance, including indemnity, which entitles the insured to replacement costs for damaged property regardless of its previous condition. It also covers subrogation, allowing insurers to recover costs from liable third parties, and subrogation waivers, which prevent insurers from pursuing compensation. Additionally, it explains deductibles, the initial…
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Skill Bit
€ 50.00
This Skill Bit covers essential soft costs in insurance, including engineering, financing, and legal fees, which are crucial for comprehensive coverage during property restoration. It also addresses business interruption insurance that compensates for lost income and expenses due to disruptions. Additionally, it highlights the importance of understanding agreed cap amounts, which denote maximum payouts for…
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Skill Bit
€ 50.00
This Skill Bit explains replacement cost, and the expense of replacing damaged property with new items of similar quality, and emphasizes the need for policyholders to review insurance terms carefully. It also covers debris removal costs post-incident, typically included in property insurance, and highlights various other property-related costs that insurance may cover, ensuring financial protection…
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Skill Bit
€ 50.00
This Skill Bit covers essential components of insurance policies, highlighting the various items they cover, including replacement costs, debris removal, and business interruption expenses. It explains that defense expenses cover legal costs in liability policies, ensuring effective claim management. Additionally, it emphasizes the timely claims payment requirement, which mandates insurers to process claims promptly, protecting…
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Skill Bit
€ 50.00
This Skill Bit outlines common exclusions in insurance policies. It highlights that damages from nuclear reactions, chemical releases, biological hazards, and asbestos exposure are excluded due to their high-risk nature, protecting insurers from catastrophic losses. Additionally, mold, mildew, and rust are often excluded because they result from gradual processes. Normal settling of a building’s foundation…
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Skill Bit
€ 50.00
This Skill Bit covers key exclusions in insurance coverage. It emphasizes that deliberate damage by the insured is not reimbursed, preventing fraudulent claims. Failure to protect damaged property post-incident also leads to exclusions, requiring policyholders to take reasonable precautions. Additionally, employee dishonesty is excluded from standard policies but can be covered through fidelity bonds. Finally,…
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Skill Bit
€ 50.00
This Skill Bit shows that contract disputes can freeze a bank guarantee, preventing the bank from honoring it until the issues are resolved. Common examples include quality issues, delivery delays, payment disagreements, misinterpretations of contract terms, and termination conflicts. In such cases, both parties may need legal counsel to resolve the underlying dispute before the…
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Skill Bit
€ 50.00
This Skill Bit shows that bank disputes over the original contract (e.g., quality of goods, contract interpretation) can freeze a bank guarantee. Both parties should seek legal help to resolve the underlying dispute before the bank honors the guarantee. Careful contract review and legal advice upfront can avoid these issues. Duration approx. 2 Min. Tier:…
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Skill Bit
€ 50.00
This Skill Bit shows that legal roadblocks can hinder a bank guarantee payout, affecting both beneficiaries and the issuing bank. Factors like sanctions, money laundering concerns, currency controls, or legal disputes may restrict the bank’s ability to disburse funds. Therefore, both parties should be aware of these restrictions and consult a lawyer if necessary to…
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Skill Bit
€ 50.00
This Skill Bit shows that a bank guarantee can be rejected if the beneficiary’s claim is fraudulent (fake documents) or invalid (contract breach, expiration, misuse). The bank will investigate and may request more info or simply refuse payment. Both parties should understand the guarantee’s terms to avoid such issues. Duration approx. 3 Min. Tier: proficiency
