The Compact Book on Commercial Property Insurance Policy
Author | : Barry Zalma |
Publisher | : |
Total Pages | : 214 |
Release | : 2018-03-22 |
ISBN-10 | : 1980627347 |
ISBN-13 | : 9781980627340 |
Rating | : 4/5 (47 Downloads) |
Book excerpt: Insurance is a contract that requires an offer to provide insurance to a person or entity, acceptance of the offer and payment of consideration called a premium. Insurance is defined by California Insurance Code Section 22, as: "a contract whereby one undertakes to indemnify another against loss, damage, or liability arising from a contingent or unknown event." As such it is a special type of contract because it is limited to provide protection only from a contingent or unknown event. Any loss to be covered must be fortuitous, accidental, contingent or unknown. An intentional act can never be insured.The book explains what insurance is, how it is acquired, how to read and understand it, what to do when a loss occurs and how to successfully present and collect a claim to indemnify the insured from all losses incurred.