Insurance 101 – Chapter 9 – Volume 5 – Expected or Intended: The Fortuity Doctrine – 3

Expected or Intended: The Fortuity Doctrine – 3

A “known loss” is a loss the insured knew had occurred prior to making the insurance contract. A “loss in progress” occurs when the insured is, or should be, aware of an ongoing progressive loss at the time the policy is purchased. Insurance coverage is precluded where the insured is or should be aware of an ongoing progressive or known loss at the time the policy is purchased.

The following video was adapted from my book, “Insurance Claims A Comprehensive Guide” Published by the National Underwriter Company and is available at the Zalma Insurance Claims Library

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