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Simple English definitions for legal terms

valued policy

Read a random definition: noncustodial

A quick definition of valued policy:

Valued policy is a type of insurance policy that sets a fixed amount to be paid out in case of loss. This amount is agreed upon in the contract and is used to determine the recovery in case of partial loss. It is different from an unvalued policy, which requires proof of the property's worth upon loss. Other types of insurance policies include basic-form policy, which offers limited coverage against loss, and multiperil policy, which covers several types of losses. Insurance rating is the process by which an insurer arrives at a policy premium for a particular risk. Insurance Services Office is a nonprofit organization that provides analytical and decision-support services and tools to the insurance industry.

A more thorough explanation:

A valued policy is a type of insurance policy that sets a fixed amount to be paid out in case of loss. This value is agreed upon when the policy is created and is used to determine the payout for partial or total loss. For example, if a valued policy for a car is set at $10,000 and the car is stolen, the policyholder will receive $10,000 as compensation.

Other types of insurance policies include:

  • Accident policy: Covers loss resulting from accidental bodily injuries
  • Homeowner's policy: Covers loss from fire, water, burglary, and negligence
  • Group policy: Covers multiple insureds under a group-insurance plan
  • Umbrella policy: Covers losses that exceed the limits of liability provided by other policies

These examples illustrate the different types of insurance policies available and the specific risks they cover. It is important to carefully consider the type of policy needed and the coverage it provides before purchasing insurance.

value | valued-policy law

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@ClockworkBlue: I feel like most people could train for the 40 for the same amount of time as they do the LSAT and get close to sub 5 which would be equivalent to a 167+
this is like the schizophrenic posts JJK tik tok be putting out
powerscaling Law School deans up next
11:19
Election Day election day
Write in Dean Z vote
11:20
Saw a guy that wrote in Biden and he said no retirement for you buddy
1a2b3c4d26z
11:20
@ClockworkBlue: god I hope that's true
if the country was run the same as Mich Law it would be a better place
Imagine if election night was run by an adcom? Like, "yep, we could get the results Friday, or June 2025."
imagine if it was like Berkley applications
1a2b3c4d26z
11:22
Election status: Complete
1a2b3c4d26z
11:22
For months
triplethread
11:23
erection day
soapy
11:23
Shoutout to Robinhood's election bet not resolving until January
triplethread
11:23
is anyone else like certain that trump will win
ambitiouslizard
11:23
he aint winning
triplethread
11:23
i like being a pessimist
ambitiouslizard
11:24
he lost his re-election, why would he win this one?
1a2b3c4d26z
11:25
I have no idea why people have so much beef w berkeley's app
I've been reading a bit about "herding," which is this idea that pollsters are making the race look tied so they look right no matter who wins.
1a2b3c4d26z
11:26
Like... it's a more involved app but you don't have to do it? They're clearly trying to have some self-selection go on
I 100% agree with the self selection, I also am not even close to touching the medians there. However I think the huge PS plus the video and especially the very specific criteria for the why Berkeley essay is pretty crazy
I'm curious, how bold can one be in those videos? Is it worth making a satirical Jason Statham-action short if the adcoms have no sense of humor?
the more risk you take the higher chance of it backfiring
my instinct would be low humor bc if they have such a complex application I would feel hesitant to use a major part of it as a joke. They clearly take their admissions seriously and a joke video might convey the wrong thing at the wrong time. I think that humor is best put into a PS anecdote where it adds some shine to your personality
safe is always better
All good points
triplethread
11:34
@TheAdoptedOne: amazing
I almost did one for Vanderbilt and my idea was to do a documentary-style vid where I and others talked about me like it was an ESPN 30 for 30.
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