Write short notes on parties to an insurance contract.

      

Write short notes on parties to an insurance contract.

  

Answers


Maurice
(a) Insurer: This is the person who promises or undertakes to pay the sum assured or
its equivalent if the insured event occurs. The insurer must be a body corporate licenced
by the commissioner of the insurance to transact insurance business.


(b) Insured: This is the person who takes out an insurance policy. The insured may be
a human being or a corporation. The insured must have an insurable interest in the
subject matter.
maurice.mutuku answered the question on May 1, 2018 at 12:18


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