Some of The Important Policies In Engineering Insurance It’s a known fact that engineering insurance is a very integral to construction workers, it’s worth noting that they’re are a good number of policies that are under the engineering insurance, and some of those policies includes: All risk engineering insurance policy: Under this policy the company …
Motor Insurance Policy and It’s Effects on General Insurance Contract The Motor Insurance policy should also be given as much scrutiny as any other insurance policy, it is very much part of a contract. just like any other contract, it has to fulfill the requirements of a valid contract as laid down in the contract …
The Application of Marine Insurance Policy in General Contract The Marine Insurance Policy very well originated in England, owning to the frequent movement of ships over high seas for trade. Marine insurance is an important element of general insurance. Because it essentially provides cover from loss suffered due to marine perils. Marine insurance extends beyond …
The Principle of Indemnity and it’s Effect on Modern Insurance The Indemnity principle also known as the principle of Indemnity is a vital principle to take note whenever one is to enter into an insurance contract. According to the dictionary an Indemnity can be defined as the protection or security against damage or loss, it …
Cargo Insurance Policy and The Types of Risk it Cover The Cargo Insurance policy is an aspect in marine insurance contract, the cargo insurance policy is codified under the Institute of cargo clause (A) (B) and (C) under each of the three clauses the provisions are categorised as follows: Risk covered The risks covered under …
Major Cardinal Principles Governing Insurance Contracts Insurance contracts are one of vital importance in our modern world of insurance, because just as I previously mentioned in an article about the history of insurance contract. I rightly pointed out that the aim of insurance is to protect the economic value of assets or life of a …