Jamoflondon
Verified member
Insurance was created to provide some kind of coverage or assurance for clients on their life, properties, health, journeys, even after your death, they still get you covered by compensating your family members or relatives on your behalf.
Now let’s talk about the principle guiding insurance, because it can’t be formal if it doesn’t have principles. It was created to control and guide the insurance business and make sure the connection between the insurer and the insured is intact without letting one party feel cheated or letting one party get the most advantage of it.
If you want to venture into insurance business or you want to do business with them, it is advisable to know about the principles first before bumping into it to avoid regrets later in the future
Now let’s talk about the principle guiding insurance, because it can’t be formal if it doesn’t have principles. It was created to control and guide the insurance business and make sure the connection between the insurer and the insured is intact without letting one party feel cheated or letting one party get the most advantage of it.
If you want to venture into insurance business or you want to do business with them, it is advisable to know about the principles first before bumping into it to avoid regrets later in the future