INSURENCE LAW

overview: Insurance covers all areas of the economy. It concerns the cushioning of economic and industrial concerns of losses that may occur, causing hardship to the owners of the property or business. The contract of insurance is basically governed by the rules which form part of the general law of contract. But over the years the contract of insurance has attracted many principles of its own. Some of the principles owe their existed Insurance covers all areas of the economy. It concerns the cushioning of economic and industrial concerns of losses that may occur, causing hardship to the owners of the property or business. to the fact that the documents of the standard insurance contract, principally the proposal form and the policy, have long been drafted in a fairly uniform way. In addition, the reasons for the many principles of insurance can be found by looking at the history of insurance and of the insurance contract. objective: at the end of the module students will be able to understand the significance importance of having an insurance policy for persons and their property and how to minimize risks students will also be able to understand the claiming process once uncertainties happen and the rights of the insured.