See: act.
Tag: RAW
Law enforcement official
Under the Health Insurance Portability and Accountability Act (HIPAA), an officer or employee of any agency of the United States, a state, a territory, a political subdivision of a state or territory, or an Indian tribe, who has legal authority to investigate an official inquiry into a potential violation of the law or prosecute a criminal, civil, or administrative proceeding because of an alleged violation of the law.
Law of large numbers
A law about the probability of loss, which states that a larger number of exposures will come closer to the probable amount of loss.
***
A natural law of probability which states that the larger the number of exposures to risk of independent, homogeneous units the closer will be the actual number of causalities to the probable number in an infinite series.
***
An underlying principle of insurance the larger the number of participants in a given arrangement, the more accurate the rate is to the exposure. For example in a group of ten male drivers between ages 21 and 30, the driving history of one driver does not adequately predict future losses for the other nine drivers. In a group of 5,000 such drivers, 500 losses among those drivers makes predictions of losses among the next 5,000 drivers more accurate.
***
UK: The larger the number of exposure units considered, the more closely will the losses occurring match the underlying probability of loss. Insurance uses the law to predict future losses with an acceptable degree of accuracy to facilitate the spreading of risk among homogeneous groups.
***
Theory of probability that is the basis of Insurance. The greater the number of exposures, the more nearly will the actual results obtained approach the probable result expected with an infinite number of exposures. Thus, if a coin is flipped a sufficiently large number of times, the results of the trials will approach half heads and half tails – the theoretical probability if the coin is flipped an infinite number of times. Events that seem the result of chance occur with surprising regularity as the number of observations increase.
***
MEDICAL,USA: Theory of probability that states the greater the number of observations of a certain event, the more likely the observed results will be the results anticipated by the mathematics of probability.
Law Reform (Miscellaneous Provisions) Act 1934
Enacts that on death all actions subsisting against the deceased, or vested in him, survive against or for, his estate. The estate can claim damages for the period between the accrual of the cause of action and the date of death. Damages are calculated without reference to any loss or gain to the estate consequent upon the death’ so annuities previously payable and life insurance now payable are disregarded. Awards under the 1934 Act are the same regardless of claims under the Fatal Accidents Act, under which there is to be no duplication of damages.
Lawsuit
Legal claim or dispute brought into a court of law. Also called suit .
Lawyers Professional Indemnity Insurance
Insurance is provided in the form of a Claims made Policy that covers monetary loss and expense of an insured attorney or law firm for legal liability in the rendering of professional services as defined by the Policy, also known as Legal Malpractice insurance, Lawyer Professional Liability insurance, Attorney malpractice, Lawyer malpractice insurance, Errors and Omissions insurance, Law firm malpractice, Errors and Omissions coverage, Law firm insurance.