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Simple English definitions for legal terms

follow-the-settlements doctrine

Read a random definition: NRPC

A quick definition of follow-the-settlements doctrine:

The follow-the-settlements doctrine is a rule in insurance that says the company that provides insurance must agree with the decisions made by the person or company they are insuring when it comes to settling claims. This means that if the person or company being insured decides to settle a claim, the insurance company must follow their decision. The same rule applies to reinsurers, who must follow the actions of the reinsured.

A more thorough explanation:

The follow-the-settlements doctrine is a principle in insurance that requires an indemnitor to accept and agree with the actions taken by the indemnitee in settling claims. This principle is particularly relevant in reinsurance, where a reinsurer must follow the actions of the reinsured.

Suppose a primary insurer settles a claim with a policyholder for $100,000. The reinsurer, who has agreed to cover a portion of the risk, must accept the settlement and pay their share of the claim. Even if the reinsurer disagrees with the settlement amount, they are bound by the follow-the-settlements doctrine and must honor the decision of the primary insurer.

Another example could be a situation where a policyholder sues an insurance company for damages. If the insurance company decides to settle the case out of court, the reinsurer must accept the settlement and pay their share of the settlement amount.

These examples illustrate how the follow-the-settlements doctrine works in practice. It ensures that all parties involved in an insurance contract are held accountable for their actions and decisions, and that the risk is shared fairly among them.

follow-the-fortunes doctrine | fons juris

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MIAMI A
[] AromaticTroubledDormouse
20:55
How does one know if they are UR1 or UR2?
[] AromaticTroubledDormouse
20:56
CONGRATS MACAQUE!
TY
got a random stanford email and almost had a heart attack
ALSO CONGRATS!
Congrats1!
21:15
Miami A, yall I'm so excited I could cry.
21:15
Feel like I can finally stop holding my breath!! Whew!!!
[] baddestbunny
22:16
every time I get accosted by a strange man who follows me around because my male coworkers were too busy talking to walk me back to my car I get closer to saying we need to bring back traditional gender roles
Dkk
22:32
Nice! @Macaque
Dkk
22:32
@Aromatic, Have to guess.
Dkk
22:33
That sucks @Bunny do you have to go to the hospital?
[] baddestbunny
22:40
I said accosted not assaulted
23:35
guys. my notre dame address just went long is this good or bad
1a2b3c4d26z
23:37
Oooooo me too
23:37
omg is this good or bad
Dkk
23:47
Idk if gender roles are gunna fix that then.
23:49
it looks like most people who applied in october last cycle didn't get a decision until january... does it even mean anything that our addresses went long??
hows ED 2 compared to ED 1?
Dkk
0:10
No idea
windyMagician
0:34
reporting live to say my ndls address also went long
does it mean anything ^
Dkk
2:21
NDLS and Fordham took a very long time last year. It's good info for people to know.
[] baddestbunny
4:29
let’s get after it boys and girls
Dkk
5:21
I gtg to bed soon.
Dkk
5:22
Big day today. Gunna be a crazy one. I will sleep through the first half.
good morning lsd it is 5 am EST
also jazzy my ndls address went long ages ago i sadly do not think it means anything
my stanford address also went long LOL i think at most it's an indicator it's under review
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