Benefits of Insurance

The Role and Importance of Insurance – Explained! Article shared by : The following point shows the role and importance of insurance: Insurance has evolved as a process of safeguarding the interest of people from loss and uncertainty. It may be described as a social device to reduce or eliminate risk of loss to life […]

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Principles of Insurance

In regard to insurance, there are five basic principles to understand and honor by the insured and the insurer in order for the insurance contract to become legal. Those principles of insurance are as follows. Utmost Good Faith Utmost Good Faith is a positive responsibility of the insured (the owner of the insured objects) to […]

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What is Insurance ? 2021

1. What is Insurance? Insurance is a legal agreement between two parties i.e. the insurance company (insurer) and the individual (insured). In this, the insurance company promises to make good the losses of the insured on happening of the insured contingency. The contingency is the event which causes a loss. It can be the death […]

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