INSURANCE LAW

INSURANCE LAW

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Lets understand the term insurance.

The term insurance is basically a contract where one insured party pays premium to prevent types of losses related to any:

-Illness

-Damage to property

-Death.

INSURANCE-LAW-2

Insurance law is related as the practice of law that includes policies, claims, rates and other back office process.

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Need:                                                                                                 

-Provide security to society by providing help in the tome of any financial loss.

-It helps in promoting saving and investments monthly for low and middle class families.

-It compensates and bears loss.

Insurance law is the law which helps in implementating the contract legally between two or more parties.