Insurance Laws

Difference Between Insurance and Assurance

Insurance and assurance are quite similar, but there are thin lines of difference between them, as the insurance provides protection to the holder…

1) What is Reinsurance - Reinsurance is a risk transfer mechanism whereunder an insurance company passes on the risk on an insurance polic…

The test of a valid insurance contract is the existence of the insurable interest. Insurable interest is nothing but an interest of su…

Multiple Type Questions and Answer...(Insurance Law) 1. Choose the correct option... A. In an insurance contract, an insurer makes an offer …

Introduction - Insurance is a Contract, there are two parties in the contract of Insurance, Insurer and Insured. The insured gives premium as a…

Introduction - Insurance is a contract in which one party (the insurer) agrees for payment of consideration (the premium) to make m…

What is Premium - It is the sum Payable (usually annually) by the insured to the insurer under a contract of insurance. Meaning and Definit…

Introduction - In our day-to-day life, we all anticipate various kinds of risks. No one can see an upcoming loss or accurately pr…

Establishment and Incorporation of Authority - (1) With effect from such date as the Central Government may, by notification, appoint, th…