Someone who, or something which succeeds or comes after (see success and succession).
In mathematics: Success may mean: a level of social status achievement of a objective/goal the opposite of failure Success, Western Australia is a suburb of Perth, Western Australia in Australia HMAS Success has been the name of two ships in the Royal Australian Navy HMAS Success (H-02), an S class... Succession is the act or process of pooing or of following in order or sequence. ... Euclid, Greek mathematician, 3rd century BC, as imagined by by Raphael in this detail from The School of Athens. ...
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The court determined that there was a significant difference between successor liability and insurance coverage, and to “deem the successor corporation a party to insurance contracts it never signed, and for which it never paid a premium, and to deem the insurer to be in a contractual relationship with a stranger,” was improper.
the court found that the policies transferred to the successor company based upon the conclusion in the underlying matter that the successor was liable for the environmental liability of the predecessor.
the insured argued that the insurance coverage for a corporation transferred by operation of law to the successor corporation once the successor corporation was found liable in tort for injuries arising from the predecessor’s distribution of asbestos products and, therefore, it was entitled by operation of law to the insurance coverage of its corporate predecessor.
The status of a successor as an employer is not affected by the question of whether the predecessor is eligible, at the time of the acquisition, to terminate coverage.
The successor employer is to be informed in their C-198 Employer Liability Notice, of the right to submit an application to transfer only the compensation experience of the portion of the predecessor business acquired, if it is identifiable and segregable.
That is, the successor's assertion that he/she did not continue the operation of the business because some or all of the predecessor's customers were not retained, and the successor had to build his/her own customer base, ordinarily will not defeat application of the mandatory transfer provision.
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