The Basic Principles of Insurance: Building Blocks for Financial Safety
The principles of insurance explained — utmost good faith, insurable interest, indemnity, contribution, subrogation, loss minimization, and proximate cause.
The principles of insurance explained — utmost good faith, insurable interest, indemnity, contribution, subrogation, loss minimization, and proximate cause.
Insurance is essentially an agreement between you and an insurance company. In this agreement, you pay a fee in exchange for protection against specific risks.