Insurance Law

An insurance policy is a contract under which the insurer, in return for an amount of money, provides benefits or indemnification to a policyholder upon the happening of an insured event or at a specified time. The rights and obligations of policyholders are primarily regulated under the law of contract and not by legislation. Insurance law deals primarily with disputes between insurers and policyholders relating to the reduction or minimisation of loss; insurance intermediaries; reinsurance and underwriting.