Brief History of Modern Insurance The gaze for the introduction of the present-day insurance business in Nigeria was anchored on the very role of British trading companies in 1879. Modern insurance business, however, was introduced to enable the European traders who traded on the west coast of Africa to freely run their business with aim of actualizing their daily … [Read more...]
Assignment in Insurance Policy| A Brief Template
Do you know what is assignment in insurance? Assignment in insurance means the legal or general transfer of property from one individual to another. Basically, an assignment is done with the legal intention of generating banking loans or from any other reputable financial organization. Therefore, a dictionary meaning of assignment is " The act of assigning, fixing, or … [Read more...]
What is Investment of Funds?| Step by Step Guide
Introduction: What is Investment of Funds? A step-by-step guide to a genuine investment is going to be our major focus in this article, this is because "A seed until it is released, is only a promise of a tree." Whenever investment of a fund is mentioned, the uninformed mind goes to how to raise or source money for investment. However, investment is more than … [Read more...]
Meaning and Purpose of Reinsurance
Meaning and Purpose of Reinsurance Reinsurance: This means insurance by which a first insurer relieves him from the risk and devolves the risk upon another insurer. Meaning and Purpose of ReinsuranceTherefore, reinsurance is to ensure again a risk that had already been insured.The person who does the insuring is an insurer while the person who accepts the risk is the … [Read more...]
Important Of Proposal Form In Insurance Contract.
Today we are going to face the Important Of Proposal Form In Insurance Contract. A proposal form is one of the most relevant document required for a life insurance contract which subsides between the insurance company and the insured. It is desirable for speed. Covenience and accuracy in handling offers to be insured. Also the insured basic information like age, occupation, … [Read more...]