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OBLIGATIONS AND RIGHTS OF INSURER AND INSURED  Insurance is a crucial aspect of financial planning, offering protection against various risks. In India, both insurers and insured individuals have specific obligations and rights to ensure a fair and effective insurance process. Understanding these obligations and rights is essential for all stakeholders involved. Obligations of the Insurer: […]

OBLIGATIONS AND RIGHTS OF INSURER AND INSURED Insurance is a contract between an insurer and an insured in which the insurer agrees to compensate the insured for losses that may arise from specific perils or events. The insured pays a premium for this protection, and in exchange, the insurer agrees to provide coverage for the

OBLIGATIONS AND RIGHTS OF INSURER AND INSURED The relationship between an insurer and an insured is governed by a contract known as an insurance policy. The insurer is the party who agrees to provide financial protection to the insured in the event of certain specified risks, while the insured is the party who pays a