April 1, 2010


Posted in LAW tagged at 4:59 pm by margarethatinambunan

I’ve been learning bout insurance law for 3 moths..

Insurance law talk about a risk, police,claims,etc..

Mata Kuliah Pertama

What’s risk? William, Jr & Heins (1985:6) discribe risk as :

  • The subject of insurance, whether a person or thing
  • chance of loss
  • uncertainty concerning the out come

So, what should we do with a risk?

we have 4 choice :

  • retention
  • avoidance
  • prevention
  • transfer or distribution

And if we want to talk bout insurance which is the best choice to face the risk, we should transfer it (risk).

Insurance is a contract by which the one party, in consideration of price paid to him adequate to the risk, becomes security to other that he shall not suffer loss, damage, or prejudice by the happening of  the perils soecified to certain things may be exposed to them. (Crawford)

Insurance A contract in which one party agrees to indemnify another against a predefined category of risks in exchange for a premium.  Depending on the contract, the insurer may promise to financially protect the insured from the loss, damage, or liability stemming from some event.  An insurance contract will almost always limit the amount of monetary protection possible.


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