The process of using an online application (Uber, Lyft) to connect with people looking for rides to various locations. The driver then picks up the rider and takes them to their desired destination charging a fee. Because the driver is holding himself and his vehicle out to the public to provide a service, this conflicts with portions of the personal auto policy.
Insurance Encyclopedia
Rider
US: (1) A document which amends the policy or certificate. It may increase or decrease benefits, waive the condition of coverage or in any other way amend the original contract. (2) A special policy provision or group of provisions that may be added to a policy to expand or limit the benefits otherwise payable. (3) A document that modifies the policy. It may increase or decrease benefits, waive a condition or coverage, or in any other way amend the original contract.
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A document that modifies the protection of a policy, either expanding or decreasing its benefits or adding or excluding certain conditions from the policy. Same as an Endorsement.
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A document, attached to a policy, that changes the policy’s coverage, either by increasing or decresing benefits, or barring some conditions from coverage.
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US: A form that is attached to a surety or fidelity bond that alters the provisions of the bond form in some manner. A rider is the surety and fidelity equivalent of an insurance policy endorsement, and though not common, insurance endorsements are sometimes called riders.
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Another term for an endorsement attached to a policy that modifies the coverage.
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MEDICAL, US: See: endorsement, amendment, and waiver .
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Usually known as an endorsement, a rider is an amendment to the policy used to add or delete coverage.
Riding Establishments Act 1970
Any person holding a licence to run a riding establishment must have public liability insurance. The insurance indemnifies the licensee against legal liability for any injury sustained by any person who hires a horse or who is being instructed. The insurance must also cover the liability of the insured and hirer for third party bodily injury.
Riesco
At Lloyd’s a basis of allocating investment income n a calendar year over different years of accounts.
Right of Entry Clause
In majority of the property Insurance policies this condition confers certain rights on the Insurers which are necessary for the Insurers to ascertain the cause and extent of loss or damage to minimize the damage and to protect the savage. The right of entry is explicitly reserved by Insurers without committing the offence of trespass.
Right of subrogation
See: subrogation .
Right of survivorship
Clause in a life insurance policy that refers to ownership of property by two or more people in which the survivors automatically gain ownership of a decedent’s interest.
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US: at the death of one co-owner of property, that person’s interest in the property automatically passes to the surviving joint tenant or tenants.
Rights of individuals
In the Medicare program, a beneficiary is entitled to receive notice of information practices; see and copy his or her own records; request corrections; obtain accounting of disclosures; request restrictions and confidential communications; and file complaints.
RINET (Reinsurance and Network)
Brussels-based network created by a consortium of mainly European reinsurers and insurers. RINET was a part of the merger that formed WISe in 1999. Insurance electronic
Riot
Needs five elements: (a) it must involve at least 12 persons (three at common law, 12 by the Public Order Act 1986 making it a criminal act); (b) all must have a common purpose; (c) there must have been an inception or execution of that common purpose; (d) they must intend to help one another by force if necessary against any person who may oppose them in the execution of their common purpose; (e) force or violence must be used in such a manner as to alarm at least one person of reasonable firmness and courage. This definition originated in Field v. Receiver of the Metropolitan Police (1907). Riot is often insured as an additional peril (linked with malicious persons) under property insurances.
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One of the extended coverage perils, related to, but broader than, civil commotion.