INSURANCE AND THE LAW
Code
of Hammurabi which codified 4000 years ago in Babylonia, contains some
of the Ordinances that are now considered including the field of
insurance. Example, article 23 of the code States:
If the robbers have not been caught, the person aggrieved may complain of anything the disadvantage, and Governor of the city where the robbery that happened would get him any goods that have been lost.
Since that time every gathering together the law have incorporated the rules are important for insurance buyers.
As is the case in most areas of law, here the attention shown to the law mainly Anglo-American habits and further changes by legislation and by the interpretation of the courts. Not in the interest of theoretical insurance buyers only need to have some knowledge of the law of insurance but in this field there are many traps-traps for policyholders who do not know. This and the next chapter will discuss the parts of the law that are important to purchasers of insurance.
THE NATURE OF LAW
The law is a kind of science magic smile in front of you while your wallet, pick pocketing and the uncertainty of his more useful for professors from on his righteousness.
Law with all its magic and brilliance and certainty, can be defined as the principles and provisions set forth by the Government and applies to people, either in the form of legislation or in the form of a habit that has been recognized and enforced by a court decision.
Two important sources of law that affect the insurance is legislation and court decisions.
The Law Enacted
Enactment of the law is the law which established by the legislature and entered into an official document. A set of these official documents drawn up systematically, made up to date, given the index, and made in the form of a revised, called code. So, the insurance code is the set of applicable laws that regulate insurance. Each State has its own insurance code. These codes are mainly set up, including the provisions regarding the new companies, the granting of the permit insurance companies and its agents, corporate finance and accounting practices, marketing activities, insurance and contract insurance statutes.
In addition the law legislated in law affect the Agency, namely the laws governing relationships with agents, and the principles of the law of insurance contract, namely the laws governing the rights and obligations of the parties of the contract.
The Decision Of The Court
A group of law known as the law of habit has been established by court decisions. The law of habitual or customary law (common law) has been developed since the 19th century in the United Kingdom and reflects nothing in deem worthy and righteous by the judges for hundreds of years. In its beginning, the term is used for customary law principles applicable law throughout England to distinguish which applies only in certain places. Now the term common law (customary law) has a more technical sense. In the United States, the customary law used in most jurisdictions consists of (1) a group of the rules stated by the decisions of courts of appeal and (2) a part of English law which does not conflict with the wisdom of the jurisdiction of the country in which it occurs.
