Principles of Insurances

  • InsurancePrinciples of Insurance

    Principles of Insurance

    Insurance is a complex financial concept designed to provide individuals and businesses with protection against various risks and uncertainties. To ensure the fair and effective functioning of the insurance industry, eight fundamental principles have been established. These principles govern how insurance operates and what policyholders can expect from their insurance providers. Utmost Good Faith (Uberrimae Fidei): This principle emphasizes the…

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