This office lease clause describes the allocation of risks. The parties desire to allocate certain risks of personal injury, bodily injury or property damage, and risks of loss of real or personal property by reason of fire, explosion or other casualty, and to provide for the responsibility for insuring those risks as permitted by law.
The Minnesota No Fault Clause, also referred to as the Minnesota No-Fault law or the Minnesota No Fault Act, is an important component of auto insurance in the state. It is aimed at providing certain benefits to individuals involved in automobile accidents regardless of who is at fault. Under the Minnesota No Fault Clause, each driver is required to carry Personal Injury Protection (PIP) coverage in their car insurance policy. This coverage ensures that medical expenses, wage loss, and other related costs are covered in case of an accident, regardless of who caused the accident. It ensures that accident victims don't have to go through the lengthy process of determining fault before receiving compensation. The Minnesota No Fault Clause guarantees a minimum coverage of $20,000 per individual for medical expenses and $20,000 for non-medical expenses, such as wage loss and replacement services. However, drivers can opt for higher coverage limits depending on their needs. One key aspect of the Minnesota No-Fault law is the 60-day medical expense notification requirement. This means that individuals injured in an accident must notify their insurance company within 60 days in order to claim the PIP benefits. Failure to do so may result in denial of benefits. It is crucial to report the accident and submit all necessary documents promptly to ensure timely reimbursement. Additionally, it's essential to mention that Minnesota is a "choice no-fault" state. This means that individuals have the option to choose between no-fault coverage or traditional tort liability coverage when purchasing auto insurance. No-fault coverage provides the aforementioned benefits, while tort liability coverage allows individuals to sue the at-fault party for damages. In summary, the Minnesota No Fault Clause ensures that accident victims receive necessary benefits without having to prove fault. It encompasses the requirement of carrying PIP coverage, sets minimum benefit limits, and mandates prompt notification of medical expenses. Understanding the intricacies of this law is crucial for all Minnesota drivers to have adequate protection in case of an accident.
