MEANING OF A TRANSFORMER A Transformer is Electrical equipment built to convert alternating current from one voltage to another. It can be built to step up or step down voltages and works on the magnetic induction principle. In this article, we will discuss about insurance for transformers A transformer has no moving parts. And as…
HEALTH INSURANCE FRAUD Health insurance represents an important class of insurance policy to look out for. It helps you to pay for your health care needs s they arise. It may covers services that ranges from normal hospitals visits or doctor checks to serious illnesses. And it may also cover preventive health care services to…
INTRODUCTION Hippo insurance is an American property insurance company with its office in Palo Alto, California, USA. The main area of specialization of the company is homeowners insurance. Home owners insurance is a class of insurance coverage that offers protection to the homes as well as the possessions of the policyholders. It equally covers the liability…
INTRODUCTION Car insurance is one of the classes of insurance policies. It is the policy which covers the expenses for damages your car sustains due to accidents, or even theft. These situations can cause real financial and proprietary loss to you and damage to your car. In this article, we shall be discussing all you…
INTRODUCTON As has always been said in our various articles or literature on insurance, the main function of insurance is to make provision of protection for probable chances of loss. It is probable loss because, the time and the level of loss at every of such event is always uncertain. And as such, where one…
The Nigerian Insurance Act 2003 is the principal Insurance Law in Nigeria and it regulates insurance business in Nigeria. Section 1 of the Act makes provision for its application. The Act applies to all insurance businesses and insurers, other than insurance business carried by insurers of the following description. A friendly society. That is, an…
Ship insurance is an insurance policy or coverage that protects shipper from damages, package, loss or theft. In this sense, if a policyholder’s ship/package does not get to its destination or if it suffers damages on delivery, the shipper gets indemnity the value of the items or ship in question. stolen. In shipping insurance, the…