Community for Insurance Claim Adjusters & Surveyors

The parties to a contract of insurance are the ‘Assured’ (or ‘Insured’) and the ‘Insurers’. 1. The assured (or insured) Any person who is capable of contracting may be the assured under a contract of insurance. Thus, a minor may enter into a contract of insurance if it is for his benefit; otherwise, the contract […]

A contract of insurance in the widest sense of the term may be defined as a contract whereby one person, called the ‘Insurer’, undertakes, in return for the ‘Assured’, a sum of , money, or its equivalent, on the happening of a specified event. The specified event must have some element of uncertainty about it, […]