Mysterious Disappearance Insurance Definition

Mysterious Disappearance Insurance Definition. This includes a covered product that has been lost or misplaced. This includes common causes of loss like leaving your ring on a beach towel, having earrings stolen from your car, cracking your stone on the edge of a table or literally just not having a clue where your necklace went.

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Mysterious disappearance can mean loss of insurance coverage. If you refer to someone's disappearance , you are referring to the fact that nobody knows. Mysterious disappearance is the disappearance of property without knowledge as to the place, time, or manner of its loss.

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Losses that cannot be identified as to time and place are generally excluded from property insurance policies. You have what insurance companies call a mysterious disappearance on your hands.

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This applies most commonly to property insurance. Many of us enjoy a good mystery — unless it involves our insurance.

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Mysterious disappearance or a theft insurance loss? Because some theft insurance policies do not contain this exclusion, they implicitly insure against mysterious disappearance and would cover the loss of a diamond necklace, for example, even if the owner did not recall how it had been lost.

Source: www.sec.gov

Theft has generally been interpreted as any wrongful appropriation of another’s property to the use of the taker. Even if assets are well hidden or well protected, they can still be stolen, can disappear, or be destroyed.

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Nevertheless, the phrase is so vague and so difficult of interpretation that many companies issued policies wherein it was expressly stated that unexplained loss or mysterious disappearance would raise a presumption of theft. However, it has disappeared from most standard property forms.

Because Some Theft Insurance Policies Do Not Contain This Exclusion, They Implicitly Insure Against Mysterious Disappearance And Would Cover The Loss Of A Diamond Necklace, For Example, Even If The Owner Did Not Recall How It Had Been Lost.

If you lose a valuable piece of property, your insurance reimbursement — or lack of it — may depend on whether your policy includes coverage for mysterious disappearance. A theft is evidenced by forcible signs of entry or exit from the location in which the loss occurred. Even if assets are well hidden or well protected, they can still be stolen, can disappear, or be destroyed.

The Loss Of Property Under Unknown Or Puzzling Circumstances Which Are Difficult To Explain Or Understand.

This includes a covered product that has been lost or misplaced. Mysterious disappearance means the vanishing of the covered product that cannot be explained. Mysterious disappearance of any insured prop erty shall be presumed to be due to theft.

Mere Disappearance Of Property, Such As An Article Dropped From A Boat,.

Fined mysterious disappearance as any disappearance of loss under unknown, puzzling, or baffling circumstances, which are difficult to understand. in conformity with the purpose of the clause,9 the court determined that once the insured proved the mysterious disappearance, the presumption of theft arose; A mysterious disappearance clause is just what the. Definition of mysterious disappearance exclusion.

| Meaning, Pronunciation, Translations And Examples

For example, an insurance policy on a diamond necklace may not provide the benefit if the necklace is lost or otherwise disappears for no apparent reason. However, it has disappeared from most standard property forms. Mysterious disappearance, com monly referred to as the mysterious disappearance clause, was first intro duced into certain theft insurance policies.10 that clause, as originally introduced, usually read.11 the word theft, includes larceny, burglary and robbery.

Policy Clause That Excludes Coverage For Loss Of Property If The Cause Of The Loss Cannot Be Identified.

[translation]”[35] in summary, the fact that there are two possible explanations does not necessarily lead to the conclusion that the loss is unexplained or that this is a mysterious disappearance if the events described are well. Mysterious disappearance can mean loss of insurance coverage. Your policy may have a mysterious disappearance exclusion clause.