Commerce SSS2 Third Term
The student should be able to:
1. Define insurance.
2. Trace history of insurance in Nigeria.
3. List and explain the basic principles.
Definition of Insurance
Insurance can be defined as a method of protecting a person, a business or some other form of an organization against financial loss resulting from damage to the theft of personal and business assets(general insurance) and against injury and death (accident and life insurance).
Insurance can also be defined as a legal contract in which one party undertakes to indemnify another party against damage, loss or liability, resulting from the.... View More
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