insurance law The Nature of Insurance came about to deprave any loss that an individual or those engaged in commerce may suffer through the occurrence of several(prenominal) unanticipated sheath. To offset this loss the commercial world current the have of insurance. In drop for a fee the individual, or the business enterprise, would be indemnified for the loss suffered on the occurrence of the incident escort against. Contracts of insurance cover a wide subject field of study such as life-time assurance, personal accident matter liability, damage to property and general liability insurance.
A contain of insurance is a contract whereby one party, called the insurer, agrees in overstep for a payment called the premium to pay a bill of money of money to another, called the insured, on the occurrence of a certain event, or to indemnify the insured against the loss caused by the hazard which is insured against. Policies of insurance are of two broad types: life assurance, which insures against an event that must happen, na...If you want to get a in force(p) essay, locate it on our website:
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