The insurance contract is a contract whereby the insurer undertakes to indemnify the insured in respect of a specified risk in consideration of a premium paid by the insured
- Advertisement -
An insurance contract is a legally binding agreement between an insurer and an insured The contract outlines the specific risks covered by the policy as well as the conditions and exclusions that apply
The insurance contract is a contract whereby the insurer undertakes to indemnify the insured in case of loss damage or liability arising out of an event covered by the policy
The insurance contract is bilateral which means that it is an agreement between two parties: the insurer and the insured It is also consensual which means that both parties must agree to it for it to be valid And finally it is an aleatory contract which means that the outcome is uncertain
The insurance contract is a contract whereby one party the insurer agrees to indemnify another party the insured against specified losses or risks in return for a premium
The insurance contract is a contract whereby the insurer undertakes to indemnify the insured in respect of losses suffered by the insured arising out of a fortuitous event within the limits of the sum insured and subject to the terms and conditions of the policy The essential elements of an insurance contract are: 1. An agreement between two or more parties; 2. The occurrence of a fortuitous event; and 3. The payment of a premium
An insurance contract is a contract between an insurance company and an individual or business The contract outlines the terms and conditions of the insurance policy including the amount of coverage the premiums and the deductible
The insurance contract is a contract whereby the insurer agrees to indemnify the insured in respect of all or part of a loss that has occurred is occurring or may occur The loss may be physical (e.g. damage to property) or non-physical (e.g. business interruption)
An insurance contract is a legally binding agreement between an insurer and an insured The contract sets out the terms and conditions of the policy including the coverages and exclusions
An insurance contract is a contract between an insurer and an insured The insurer agrees to indemnify the insured for a loss which may be physical or financial that arises as a result of an event that is covered by the policy The insured pays a premium to the insurer in exchange for this protection
