Summary |
This course is designed to be an introduction to insurance, on broad and general lines. It is therefore described as the “Elements of Insurance,” but the student must not conclude that the subject is easy and can be mastered without effort. Its scope alone necessitates considerable application, for it covers the four main branches of insurance-marine, fire, life and accident.
The course opens with an explanation of the nature and function of insurance. It is essential to understand the purpose for which insurance exists, and the part which it plays in the economic and social system. The course provides sufficient information for the present purpose, but any student who is specially interested in the history of insurance can enlarge his knowledge by undertaking some of the suggested reading.
The remainder of the course covers the general principles of marine fire, life, and accident insurance.
Insurance is very interesting because it is so closely related to the everyday life of the country. It plays a part in the life of the individual citizen as well as in the economy of the nation.
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