Insurance Law

Insurance Law

This pertains to the body of law on insurance which includes insurance policies, insurance claims, insurance regulations, and rates, and recently enacted laws. Basically, insurance law can be broken into three categories: the business of insurance, the content of insurance policies, and the handling of claims. The term insurance describes any measure taken for protection against risks. When insurance takes the form of a contract one party, the insured, pays a specified amount of money (premium) to another party (the insurer). The insurer in turn agrees to compensate the insured for a specific future loss. The losses covered are in the contract and the contract is called a policy. North Cyprus Law Clinic will be able to assess and teach how these rules are examined through the system.