PRINCIPLES OF INSURANCE NOTES

The Principles includes:- 1. Insurable Interest 2. Utmost good faith (Non-disclosure) 3. Indemnity 4. Subrogation 5. Salvage 6. Re-instatement 7. Contribution and Apportionment 8. Proximate Cause 9. Abandonment 10. Average Clause 11. 3rd Party Insurance 1. INSURABLE INTEREST This is Read More …

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ELEMENTS OF INSURANCE NOTES

1. Parties: The parties to an insurance contract are the insurer ad the insured. 2. Premium: This is the consideration which passes from the insured to the insurer to support the contract. 3. Risk: This is the probability or chance Read More …

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LAW OF INSURANCE NOTES

WHAT IS INSURANCE? This is a contract whereby a party known as the insurer undertakes, in consideration for a sum of money known as premium paid by the insured, to pay a sum of money or its equivalent on the Read More …

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HIRE PURCHASE LAW NOTES

The law relating to the Purchase in Kenya is contained in the Hire Purchase Act1, .The Act was enacted in 1968 and came into force on 2nd November, 1970. It was a Private member’s Bill based on the English Hire Read More …

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