How to Apply the Principle of Indemnity in Motor Insurance The principle of indemnity is a fundamental principle of insurance laws that all the insurance policies, except those of life and personal accident, are contracts of indemnity. Indemnity originated from the...
Administrative Classification of Insurance by Other of Criteria Generally, insurance classification has been an ongoing business. It could be classified in different forms according to the nature of the interest affected. Each classification is viewed in a different form by different...
Insurable Interest at The Time of Need and Application Insurable interest: Basically, when a businessman says that he has an interest in a particular business or venture, what exactly is he talking about? He is only saying that he has some...
How do I know What Type of Insurance I Have? Life is full of risks and uncertainty—there’s no question about that. many individuals and companies have faced a whole lot of financial crises in their businesses and homes. These unexpected losses...
Government Regulation and State Intervention in Insurance| All You Need know Tracing from the inception of the insurance business in Nigeria, there was no form of state or government control of the insurance industry. Government regulation and state intervention in insurance...
