Insurance

This Wisdom of the Crowd, compiled from responses posted on the Financial Services eGroups, addresses Power of Attorney (POA) Issues Arising From the Changing of Beneficiary Selections, Other Policy Terms, and Competency Considerations.

The concept of replacement cost — sometimes referred to as “new for old”— seems simple, but issues often arise over the calculation and various policy terms and conditions. This article provides an overview of replacement cost insurance coverage.

Many types of contracts require one party to indemnify another for first-party losses or against claims made by third parties.

The indemnity obligation also may be imposed by law in the absence of a contractual obligation. This article discusses some of the most important considerations related to indemnification.