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Economical Insurance, founded in 1871, is a Canadian Property & Casualty insurance company, offering automobile, property, liability, agriculture, and surety insurance. Its executive offices are located in Waterloo, Ontario , with regional offices across Canada. [ 1 ]
Here are six things to consider before you file an insurance claim. 1. Are You At Fault? Whether it’s a car accident or damage to your home, insurance claims call attention to you as a ...
Pure economic loss. Economic loss is a term of art [1] which refers to financial loss and damage suffered by a person which is seen only on a balance sheet and not as physical injury to person or property. There is a fundamental distinction between pure economic loss and consequential economic loss, as pure economic loss occurs independent of ...
In insurance claims, a total loss or write-off is a situation where the lost value, repair cost or salvage cost of a damaged property exceeds its insured value, and simply replacing the old property with a new equivalent is more cost-effective. [1][2] Such a loss may be an "actual total loss" or a "constructive total loss".
The fear behind allowing claims for "pure economic loss" is that potentially unlimited claims could flood in. The risks may be unknowable, and parties would find it impossible to insure. [1] [2] The U.S. judge Benjamin N. Cardozo famously described it as, "liability in an indeterminate amount, for an indeterminate time, to an indeterminate ...
2. You don't have a paper trail. If something that's under the policy does happen – like you get the flu and need to cancel your upcoming trip using travel medical coverage – make sure you ...
Vehicle insurance in the United States. Vehicle insurance in the United States (also known as car insurance or auto insurance) is designed to cover the risk of financial liability or the loss of a motor vehicle that the owner may face if their vehicle is involved in a collision that results in property or physical damage.
Sun Life Financial Inc. is a Canadian financial services company. It is primarily known as a life insurance company. Sun Life has a presence in investment management with over CAD $1.3 [4] trillion in assets under management operating in a number of countries. [5] Sun Life ranks number 235 on the Forbes Global 2000 list for 2022.