Basically, an insurance policy is a contract that is a valid agreement between the insurer (in this case the insurance company) by the insured, where the insurer is willing to bear a loss which may arise in the future in return for payment (premium) certain of the insured.
According to Law No. 2 In 1992, the meaning of Insurance is an agreement between two or more parties, with which the insurer committed themselves to the insured, by accepting insurance premiums to provide reimbursement to the insured for loss, damage or loss of expected benefits, or legal liability to a third party which may be suffered by the insured, arising out of an uncertain event, or to provide a payment based on death or life of an insured person.
According to Law No. 2 In 1992, the meaning of Insurance is an agreement between two or more parties, with which the insurer committed themselves to the insured, by accepting insurance premiums to provide reimbursement to the insured for loss, damage or loss of expected benefits, or legal liability to a third party which may be suffered by the insured, arising out of an uncertain event, or to provide a payment based on death or life of an insured person.
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