principles of insurance the concept of insurance is risk distribution among a group of people. hence, cooperation becomes the basic principle of insurance. to ensure the proper functioning of an insurance contract, the insurer and the insured have to uphold the 7 principles of insurances mentioned...
Every contract of insurance requires aninsurable interest to support it,or otherwise it is invalidand any claim made upon it will not be entertained.(3)Utmost good faith is a very important principle.Thepeople who decide what premium is fair for a particularcover do so on the basis of ...
the insurance is meant to compensate losses , the mechanism of insurance can not be used to make a profit . • The amt. paid as a claim is maximum of sum insured under the policy . • The insured cannot gain by over-insuring the property , but he will lose by under-insurance !!
是指投保人和保险人在签订保险合同以及在合同有效期内,必须保持最大限度的诚意。Both parties be faithful and honest in entering into the insurance contract. Insurant shall expose all important facts influencing the judgment and evaluation by the insurer to the perils. ...
Parts of a life assurance contract • Conditions • Conditions that the insurance company needs to be fulfilled maybe analyzed in two ways: Type • Implied conditions • Express conditions (general & particular) Time • Conditions before the contract is arranged • Condi...
Insurance concept was started to distribute risk among group of people. Co-operation is the basic principle behind every insurance contract. 1) Principal of Utmost Good Faith Both parties, insurer and insured should enter into contract in good faith. ...
LOMA280-Principles of Insurance精品管理文档.doc,Chapter 1 The Life and Health Insurance Industry Role of Government in Insurance The United States has a federal system of government in which the federal government and a number of lower level governments,
An insurance contract needs to specify the premium to be paid and a possible participation in the benefit (or surplus) of the company. We suppose that a convex commonotonic premium functional is used to value the aggregated liability of the insurance company. It results from the analysis that ...
Principles of European Insurance Contract Law (PEICL), prepared by the Project Group Restatement of European Insurance Contract Law, edited by J眉rgen Basedow, John Bird, Malcolm Clarke, Herman Cousy & Helmut Heiss, in cooperation with Leander D. Loacker (M眉nchen: Sellier European Law ...
SQA-保险原理Principles of Insurance-Section3 Life Insurance.pdf,Principles of Insurance Section 3: Life Assurance Outline of Section 3 3.1-3.4 The need for life assurance: death, sickness, redundancy 3.5-3.8 Business protection: sole proprietor, partners