INSURANCE: What is Insurance?

 

Insurance, according to Law no. 2 Year 1992,

is an agreement between two or more parties, with which the insurer binds itself to the insured, by accepting the insurance premium to provide reimbursement to the insured due to loss, damage or loss of expected profit, or legal liability to a third party which may be subject to the insured, which arising from an uncertain event, or to provide a payment based on the death or life of an insured person.

 

Also Read:

INSURANCE: Basic Principles of Insurance

INSURANCE: Planning an Insurance Program

INSURANCE: Types of Insurable Risks

INSURANCE: Insurance Functions and Purposes

INSURANCE: Term In Insurance

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