Tag Archives: Insurance

Principles of Insurance |6 Basic principles of Insurance

Principles of Insurance The following are some basic principles of insurance . These principles are very important when insurance companies are established, they need to follow these principles. 1) Principal of utmost good faith: A contract of insurance must be made based on utmost good faith mean credible information. It is important that the insured… Read More »

What is Insurance and Insurance premium?

Insurance What is Insurance and Insurance premium? Insurance is a risk transfer mechanism. It’s a method of shifting the responsibility for losses to the party who is a specialist for handling the risk by spreading it over a large number of people or firms Insurance is a means of protection from financial loss. It’s a… Read More »