COMM231 Chapter Notes - Chapter 28: Co-Insurance, Liability Insurance, Insurance Broker
14 Feb 2016
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Document Summary
The most important elements of what you need to remember from this chapter are the basic principles that govern insurance law and how they are different from contract law in general. You should also gain an understanding of the role insurance can play in a risk management program. We expect you to read the entire chapter and be very familiar with the types of policies and the rights and obligations of the insurer and insured. The concepts and definition at page 692-696, which are critical to your understanding. Particular elements of a policy including the difference between a rider and an of insurance endorsement. Premium price paid for insurance coverage circumstances, at what cost. Insurance policy is contract: parties agree to what kind of loss is covered, in what amount, under what, regulated by legislation in each provinces. Deductible insured is responsible for the first part of the loss, insurer has liability for the balance.
