INSURANCE

NATURE AND STRUCTURE OF INSURANCE DOCUMENT

NATURE AND STRUCTURE OF INSURANCE DOCUMENT

The various types of documents used in insurance business are: The Proposal form. The cover notes. The insurance certificate. Policy ...
CONTRIBUTION

CONTRIBUTION

This is another corollary of the principle of indemnity. It ensures the payment of exact financial compensation to the insured ...
INDEMNITY

INDEMNITY

The principle of indemnity regulates the financial compensation to be made to the insured by the insurer following the loss ...
INSURANCE ASSOCIATIONS IN NIGERIA

INSURANCE ASSOCIATIONS IN NIGERIA

Insurance industry in Nigeria cannot exist in isolation. It has to exist within the framework of the economy, and there ...
INSURANCE MARKET

INSURANCE MARKET

The market is a place of business interaction between producers, sellers and consumers for the exchange of goods and services ...
INSURANCE RENEWAL

INSURANCE RENEWAL

The continuous existence of an insurance policy is subject to renewal, depending upon the duration of the policy. In most ...
PROXIMATE CAUSE

PROXIMATE CAUSE

There is need to state what are covered under a contract of insurance so that in the event of loss ...
UTMOST GOOD FAITH

UTMOST GOOD FAITH

The general rule guiding most commercial contracts is the principle of caveat emptor (let the buyer beware) .Under this principle, ...
INSURABLE INTEREST

INSURABLE INTEREST

Insurable interest exists when an insured person derives a financial benefit or other kinds of benefit from the continuous existence ...
FUNCTIONS OF INSURANCE

FUNCTIONS OF INSURANCE

INTRODUCTION Risk cannot be eliminated completely. Rather it can only be minimized through provision of financial compensation to the insured ...
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