Hello esteemians and steemians before i call it a day i would like to share a very vital and vivid imformation about business Law or law of contract because i for one is a young and growing enterprenuer who is open to life changing ideas ..i will be talking about the importance of law of contract as an insurance broker...........
Who is an insurance broker:an insurance broker is one who in the course is to negociate or bargain on behalf of the princial and bring two parties into contractual relation ..the pratice of law surrounding insurance is majorly important to both individual and commercial sector
It primarily includes the regulation of the business,content of insurance policies and claims handling..
What does insurance Law involves?.......
We can trace the insurance law to the 12th and 13th century, this growth is with the hand rise of the maritime industry and trade.it for this reasons that london is the centre of insurance market...
Functions of an insurance lawyer
(1) An insurance lawyer will descern whether or their client are liable for damages or cliams.
(2) they will collect relivant evidence from a verified source to build a sound picture of what is happening
(3)they also advice their client accordingly.
(4)they alao negotiate and draft insurance policies ..
Types of client one might encounter as an insurance broker are:
(1)individuals
(2)commercial sector
(3)Lloyd's syyndicate
(4)reinaurance providers
(5) specialist inaurance ans more.
As a broker you need to understand that business is all about people if you are good with people the faster the buainess grow and more importantly also giving back to the society..as a business young student my findings gave me great amusement as to how law of contract has change and educate so many in the business industry ...with this little knowledge i hope i have enlighten some of us ...love to the steemians family.....thanx