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Simple English definitions for legal terms

follow-the-fortunes doctrine

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A quick definition of follow-the-fortunes doctrine:

The follow-the-fortunes doctrine is a rule in insurance that says a reinsurer must pay back the reinsured for settled claims as long as the reinsured made the payments in good faith and they were reasonable. This means that the reinsurer cannot question the reinsured's decision to pay a claim that may not have been covered under the original insurance policy. It is also known as follow the fortunes.

A more thorough explanation:

The follow-the-fortunes doctrine is a principle in insurance that requires a reinsurer to reimburse the reinsured for their payment of settled claims, as long as the payments were made in good faith and were reasonable.

For example, let's say a company purchases insurance for their property and experiences damage from a storm. The insurance company pays the claim, but then seeks reimbursement from the reinsurer. The reinsurer must reimburse the insurance company as long as the payment was made in good faith and was reasonable.

This principle prevents the reinsurer from questioning the insurance company's decision to pay a claim that may not have been covered under the original insurance policy. It allows the insurance company to make decisions in the best interest of their policyholders without fear of being second-guessed by the reinsurer.

following-form policy | follow-the-settlements doctrine

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medicine is a scam
join the ethically ambiguous legal field instead
Dkk
18:57
I want to meet an attorney that defends clients who run into flat earth problems. I want an attorney that knows and believes in flat earth theory.
19:05
i want a flat earther for president. i want a guy who posts on 4chan for president. i want someone who mogs for president.
Dkk
19:18
Exactly. My version of that awful poem.
Dkk
19:19
I can accept a president with maybe one or two of the poems traits hut good God, all of them??? No ty.
windyMagician
19:20
president who respects sex is crazy
windyMagician
19:20
we had bill clinton already
Dkk
19:21
Bill Clinton, first and last black president
windyMagician
19:23
I want to go running but my leg feels weird
windyMagician
19:23
it doesn't hurt its just tingly
Dkk
19:26
It needs more alcohol. You tingle when your nerves need watering.
19:27
try stretching it maybe to see what's up
windyMagician
19:27
stretches make me think it's just soreness
windyMagician
19:27
I'm sober lol
Dkk
19:38
Anyone else get the google notification that your LSD password has been compromised lol. LSD got hacked.
20:48
what.jpg @Dkk
CynicalOops
21:03
You think you just fell out of a coconut tree?
jackfrost11770
21:10
nope dk
CynicalOops
22:37
Calvinamala Harris
jackfrost11770
23:16
should i start using letterboxed again
Dkk
23:25
@jackfrost11770: if you want but like it aint for me
dk do u ever eat at bk
Dkk
23:48
@chickenburgahfart: I would do that in the Army if really desperate for food or if I had to work through lunch. One of the few fast food places I go to.
bk so slept on
Dkk
0:23
I will take In N Out everyday over it when I can though.
texaslawhopefully
1:22
In N Out is not only the best fast food place, but the prices too are fantastic
Dkk
1:27
Indeed, indeed.
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