Day: October 16, 2020

Pre-independence legislation Modern insurance came with colonial administration; the legislation was racist as it demonstrated a deliberate move by the colonial government to keep Africans out of the monetary economy.  The first legislation instrument governing insurance was enacted in 1945 Read More …

Like any other market, the insurance market comprises of sellers, buyers and middlemen.   The Buyers of Insurance Most people tend to think of insurance in terms of personal insurances e.g. private car insurance, household insurance, life assurance etc. However, Read More …

Proposal Forms A proposal form is the mechanism by which the insurer receives information about risks to be insured. It is completed by the proposer and submitted to the insurer for most classes of insurance. However, there are classes of Read More …

Insurance Contract Insurance law is mainly derived from the general law of contract. Therefore the insurance contract will have certain elements that are legally binding. These include: Legal form Offer and acceptance Consideration Legal objects Competent parties   Legal Form: Read More …

Insurance offices are split into departments or sections, which deal with types of risks which have affiliation with each other. Generally insurance companies are categorized into the following offering the specified products or policies:   Life and Health Life This Read More …