Tag: insurance
Insurance
What is Insurable Interest? In an Insurance Contract, the term ‘Insurable interest‘ refers to the legal right to insure arising out of a financial relationship, recognized at law, between …
Insurance
Indian insurance companies play following roles in Economic development of our country. 1. Saving and Insurance Saving involves refraining from present consumption. The investment can take place only when …
Insurance
What are Particular average Loss? Particular average loss are partial and unforeseen loss accidentally incurred by sea perils. When goods arrive at its destination, the surveyor inspects them and …
Insurance
Importance of Insurance to Society Insurance is a part and parcel of society today. It offers various advantages to the society as given below: 1. Protects society’s wealth Through …
Insurance
What is Assignment in an Insurance Policy? Assignment means a complete transfer of the ownership of the policy to some other person. Usually assignment is done for the purpose …
Insurance
Procedure for Taking out a Marine Insurance Policy The procedure involved in taking out a Marine Insurance policy is quite simple and straight forward. The intervention of an insurance …
Insurance
Rights of Insurer in a Fire Insurance Policy The following are the rights of an insurer in a fire insurance policy. Right to avoid the contract. Right of control …
Insurance
14 Differences between Nomination and Assignment in Insurance The following are the major differences between nomination and assignment: 1. How made: Nomination can be made either by mentioning the …
Insurance
What is Nomination in a Life Insurance Policy? Nomination is only an authorization to some one to receive the policy money if and when the policyholder dies. A policyholder …
Insurance
History to Insurance Individuals and organizations expose themselves to the chance of loss in all activities due to uncertainties. The more industrialized a society becomes, the more complicated it …
