saisonindia ..an insurance hub...of...insurers ..brokers..advisors..&..academy..

" The insurance contract is a contract between the insurer and the insured . It is aleatory, voluntary, executory, conditional contract between the two parties."

" The premium is the Present Value of the Future Risk !"

"The cost of Premium excluding the profit should meet the break even point of expenses of the product!"

" Reinsurance is the concept of taking Insurance by Insurance Company "

" Insurance should not be looked at as a tool to make a gain out of !"

"Under insurance- Principle of Average Clause applies, which explains the ratio of actual loss to the market value of the insured property ."

"Conditions are the provisions inserted in an insurance contract that qualify or place limitations on the insurer's promise to perform.

Warranties are the stipulations collateral to the main purpose of the contract.

Breach of warranties and conditions will lead to avoidance of the payment of insurance claim by the insurer."

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