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.
This article takes a journey through time to understand the history and evolution of insurance and see how it grew from simple agreements between people to the complex, global industry it is today.
Main purpose of insurance is to protect you financially from life’s uncertainties. Imagine if you had to pay for every accident, — that could be devastating
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.