What is Insurance
Insurance is a contract between an individual or organization (known as the policyholder) and an insurance company. In the contract, the insurer promises to pay the policy holder in the event the specified risk occurs. The policyholder promises to pay a premium to the insurer to cover the risk.
Types of Insurance:
- Motor Private / Commercial Insurance.
- Aviation Insurance.
- Engineering Insurance.
- Home (Fire Domestic) Insurance.
- Fire Industrial Insurance.
- Public Liability Insurance.
- Marine Insurance
- Personal Accident Insurance.
- Theft Insurance.
- Work Injury Benefits (WIBA).
- Medical Insurance.
- Micro Insurance.
- Miscellaneous Insurance.
- Ordinary / Individual Insurance.
- Group Life Insurance.
- Pension / Retirement Insurance.
- Annuity.
- Investment / Unit.
- Funeral Insurance.