The main categories of insurance include life insurance, fire insurance, accident insurance, professional indemnity and health insurance. For a premium, the insurer undertakes certain risks that the insured may face in the future. Of course, death is not a risk but the timing of it is. Other risks may never occur. Those contingency factors are all taken into account by the insurance industry in the fixing of its premiums.
There are significant laws applicable as to the basis upon which an insurance contract is entered into and the information that must be supplied by both parties to an insurance relationship and there are principles and procedures available for recovery of insurance claims once an insured event is said to have occurred. Recourse can be had to the insurance ombudsman and/or the Courts.
Our members have experience in application of the legal principles and practises involved in achieving adequate insurance cover and appropriate recovery of insurance claims.
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