Posts

INSURANCE PRINCIPLES WE MUST KNOW

Image
INSURANCE   PRINCIPLES   WE   MUST   KNOW 1 .  Insurable   Interest  ( Interest   to   be   Insured ) Is   someone   who   insures   must   have   an   interest   in   the   insurable   property  ( object ).  The   insured   object   must   also   be   legal   and   not   violate   the   law   and   belong   to   the   proper   category . If   there   is   an   accident   or   problem   that   causes   the   object   in   question   to   be   damaged ,  the   insurer   will   get   financial   compensation 2 .  Utmost   Good   Faith Actions   to   disclose   accurately   and   completely ,  all   material   facts  ( material   fact )  regarding   something   that   will   be   insured   whether   requested   or   not .  This   means   that   an   insurer   must   be   honest   and   open   in   providing   clear   and   correct   related   information   on   everything   about   the   insured   object . This   insurance   principle   also   explains   the   risks   that   are   guarant