An Insurance Endorsement is a legally binding document which allows you to make changes to an existing Insurance Policy. An Endorsement is issued to correct gaps or mistakes in Insurance Coverage.
General
What is the Principle of Indemnity in Insurance?
Principle of Indemnity in Insurance states that Insurance should restore the Insured in the same financial position as he was in before the loss to the same financial position after the loss. It also states that the Insured should not make profit out of the Insurance Policy
Insurance Claim – Definition, How it Works, Process, and Types
An Insurance Claim is a formal request by the Insured for Compensation from a Covered Loss under the Insurance Policy
What is an Insurance Policy?
An Insurance Policy is a legal contract between the Insurance Company and the Policyholder which specifies the terms and conditions of the Insurance Contract.
Insurance – Definition, How it Works, Benefits, History and Types
Insurance is defined as the process of transferring risk by the owner of the asset to the Insurance Company in return for an Insurance Premium.
Importance of a Building Insurance Policy
What Is the Importance of a Building Insurance Policy? Building Insurance is essentially a property insurance policy that provides reimbursement if the building suffers from any damage due to fire, theft, or other natural calamities. A Building Insurance Policy is usually purchased by a Housing Society and hence it is also known as a Housing Society […]