What does fortuitous mean in insurance?
Definition of fortuitous loss loss occurring by accident or chance, not by anyone’s intention. Insurance policies provide coverage against losses that occur only on a chance basis, where the insured cannot control the loss; thus the insured should not be able to burn down his or her own home and collect.
What is a fortuitous loss in insurance?
Fortuitous loss is one that is unforseen and unexpected by the insured and occurs as a result of chance.
What is the concept of fortuitous?
Definition of fortuitous
1 : occurring by chance. 2a : fortunate, lucky from a cost standpoint, the company’s timing is fortuitous — Business Week.
What does fortuitous loss mean?
Fortuitous means loss or damage that is not knowingly about to occur.
What is an example of fortuitous?
The definition of fortuitous is happening by chance. An example of fortuitous is two people who meet during a storm evacuation and wind up marrying each other a few years later. Happening by a lucky chance; lucky or fortunate.
What is an example of fortuitous loss?
fortuitous loss. loss occurring by accident or chance, not by anyone’s intention. Insurance policies provide coverage against losses that occur only on a chance basis, where the insured cannot control the loss; thus the insured should not be able to burn down his or her own home and collect.
What is payment of fortuitous loss?
Payment of fortuitous losses
one that is unforeseen and unexpected and occurs as a result of chance. In other words, the loss must be accidental.
What is fortuitous event example?
Fortuitous event shall include, but is not limited to acts of God, laws, regulations or orders of any government entities, judgments or orders of any courts, riots, wars, strikes, lockouts, terrorism, natural calamities, storm, flood, volcanic eruptions, or other severe and unusual weather conditions, accidents, or any …
How do fortuitous events affect obligations?
Fortuitous event or force majeure
- If the obligation could not performed due to a fortuitous event or force majeure, the obligation will be extinguished;
- If impossible performance is temporary, the obligor is not liable for the delay, as long as it lasts;
Does fortuitous mean fortunate?
Fortuitous means happening by chance. It does not mean fortunate.
What is the difference between fortuitous and serendipitous?
Fortuitous means happening by accident or chance. It has no good (or bad) connotations. Serendipitous means the faculty of making fortunate discoveries by accident.
What is assiduous study?
showing hard work, care, and attention to detail: assiduous research/efforts.
What does plain lucky mean?
2 conforming to high moral standards; honest. 3 consistent with justice.
What is a lucky accident?
fortuitous Add to list Share. Fortuitous means by chance, like a lucky accident. If you and your best friend’s families happen to go on vacation to the same place at the same time, that’s a fortuitous coincidence! Something fortuitous is random like an accident, but there’s no downside.