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Simple English definitions for legal terms

American Lloyd's

Read a random definition: emphasis added

A quick definition of American Lloyd's:

American Lloyd's is a group of insurance underwriters who work together under a common name. They are not a company, but rather an association that operates through an attorney-in-fact who has the authority to make and issue insurance contracts on behalf of the underwriters. Each underwriter has a specific limit on the amount they can obligate themselves to pay on a contract. This association is also known as Lloyd's underwriters or Lloyd's association.

A more thorough explanation:

Definition: American Lloyd's is an unincorporated association of underwriters who engage in the insurance business through an attorney-in-fact. The underwriters operate under a common name and have the authority to obligate themselves within specified limits on insurance contracts that the attorney issues in the common name.

Examples: If a group of underwriters wants to insure a large commercial property, they can come together under the name American Lloyd's and appoint an attorney-in-fact to issue the insurance policy. The attorney-in-fact will have the authority to obligate each underwriter to pay a portion of the claim if the property is damaged or destroyed.

Explanation: American Lloyd's is a way for underwriters to pool their resources and share the risk of insuring large or complex risks. By operating under a common name, they can offer insurance policies that are backed by the financial strength of the entire group. The attorney-in-fact acts as the representative of the underwriters and has the authority to make decisions on their behalf. This allows the underwriters to participate in the insurance market without having to individually issue policies or manage claims.

American Law Institute test | American National Standards Institute

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EW THE NEW LOGO IS SO UGLY
WTF
12:09
need to send in my berkeley app rawwwww
BulbasaurNoLikeCardio
12:09
@ChowieBean: should be required to tell them, the schools who asked I only told them the schools in their area not all of them.
BulbasaurNoLikeCardio
12:10
*shouldnt be
12:12
@jackfrost11770: if i get a berk A today and they have that logo im withdrawing (/s /s /s /j /j /j)
babycat
12:12
@ChowieBean: me too lol. you applying to public interest scholars program?
12:14
yes def applying public interest
12:16
i was raised like blocks away from umiami
12:16
idk if i wanna go back to florida tho so im applying there as safety/target 💀
12:25
@ChowieBean: doing the same thing
Does anyone think au gonna get back to us today
My app was complete Oct 11
If yes what time
Dkk
12:29
Sure, yes! 11:22:24 PST
ClassyPleasantHeron
12:30
I wonder if Berk was updating their system so that they could watch more video.
1a2b3c4d26z
12:41
They updated it so they could watch my video one trillion times
brookyln law portal just added person id and application id for me, what does it mean??
Dkk
12:52
@VolatileClumsyAcolyte: well someone got an A so maybe an A
just checked the reddit, apparently it means nothing..
HAPPY FRIDAY HAPPY UCLA DAY
what time would they release cuz west coast
BulbasaurNoLikeCardio
12:54
I hate that Vanderbilts portal gives no status
HopefullyInLawSchool
12:54
@VolatileClumsyAcolyte: did you apply YM to Brooklyn?
JumpySubsequentDolphin
12:57
@SplitterusClitterus: THEY BETTER HAVE AN A WAVE TODAYYY
glovediedthisishismom
12:57
kendrick lamar
glovediedthisishismom
12:57
album
JumpySubsequentDolphin
12:57
I think usually they release at like 1ish?
JumpySubsequentDolphin
12:57
@glovediedthisishismom: GNXXXX
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