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.
Oklahoma No Fault Clause, also known as the Oklahoma Personal Injury Protection (PIP) law, is a legal provision that governs automobile insurance coverage in the state of Oklahoma. Under this clause, drivers and passengers involved in a car accident are entitled to certain benefits regardless of who was at fault for the accident. The Oklahoma No Fault Clause ensures that individuals injured in a car accident can promptly access medical treatments and cover other related expenses without having to establish who was liable for the accident. This helps streamline the claims process and ensures that accident victims receive the necessary medical care and financial support in a timely manner. One type of Oklahoma No Fault Clause is the mandatory Personal Injury Protection (PIP) coverage. According to Oklahoma law, every vehicle owner must carry PIP coverage as a part of their auto insurance policy. PIP coverage typically includes medical expenses, lost wages, funeral costs, and survivor's benefits up to a specified limit. This coverage is meant to protect individuals involved in car accidents from the financial burden of medical expenses and lost income, irrespective of who caused the accident. Oklahoma also offers optional additional coverage known as "excess personal injury protection." This coverage allows individuals injured in an accident to exceed the minimum PIP coverage limits set by the state. With excess PIP coverage, accident victims can receive additional compensation beyond what is provided by mandatory PIP coverage, ensuring better financial protection in case of severe injuries or high medical costs. It is important to note, however, that the Oklahoma No Fault Clause does not limit an individual's right to pursue a personal injury lawsuit if they meet certain criteria. If the accident resulted in severe injuries, disfigurement, permanent disability, or death, and the damages exceed the threshold set by the state, individuals may be allowed to sue the at-fault party for additional compensation. In summary, the Oklahoma No Fault Clause, implemented through mandatory PIP coverage, ensures that individuals involved in car accidents have access to medical treatments and financial support regardless of fault. This provision plays a vital role in expediting the claims process and easing the financial burden on accident victims. Optional excess PIP coverage provides additional benefits beyond the state-mandated limits. However, individuals still have the right to pursue legal action in certain cases of severe injuries or high damages.
