Law School: Liberty University School of Law
Course ID: LAW 805
Term: Spring 2020
Instructor: Prof. Light
Insurance contracts have five sections: declarations, definitions, coverage, ???, and exclusions.
In accordance with general contract law, any ambiguities in normal insurance contracts will be construed against the insurance company as the influential drafter.
Extrinsic evidence is typically allowed to clarify any ambiguities.
A minority of states follow a policy of "honoring the reasonable expectation fo the insured," even if there was no actual ambiguity.
Public policy may require insurance companies to deny covering punitive damages and require covering things to prevent policyholders from making gruesome choices.
An insurance contract must have an insurance interest.