Insurance is a contract whereby, for a stipulated consideration, one party undertakes to compensate the other for loss on a specified subject by specified perils. The party agreeing to make the compensation is usually called the “insurer” or “underwriter”, the other the “insured” or “assured”, the agreed consideration, the “premium”, the written contract, a “policy” the events insured against “risks” of “perils” and the subject, right, or interest to be protected, the “insurable interest”; A contract whereby one undertakes to indemnify another against loss, damage, or liability arising from an unknown or contingent event and is applicable only to some contingency or act to occur in future; An agreement by which one party for a consideration promises to pay money or its equivalent or to do an act valuable to other party upon destruction, loss, or injury of something in which other party has an interest.
Insurance transfers and allocates risks from the person taking the policy or “the insured” to the insurance company or “insurer.” An insurance policy is a special agreement between the insurer and the insured. To be enforceable, the insurance policy must meet all of the usual requirements of a contract and, in addition, the insured must have an “insurable interest” in the subject matter being insured, such as property, life, and health.
Businesses usually carry basic property insurance and commercial liability policies. But they may also carry fidelity insurance, business interruption insurance, and directors and officers’ liability insurance.
Any time an insured individual is denied insurance benefits or offered less than what they believe to be adequate, there is potential for a coverage dispute. For example, an employer’s workers compensation insurance will normally cover an injured employees’ medical bills for injuries sustained in workplace accidents. But if one employee purposely causes the injury of another that may not be classified as an “accident”, and the employer, rather than the insurance company may be responsible for the medical bills. Similarly, a home owner may hire a contractor to build an addition onto his or her house and then offer to help with the construction to reduce costs. If the home owner is injured, whose insurance company has to pay?
If you’re involved in an insurance dispute, make sure your attorney has the experience and skill to make sure your rights are protected.
Insurance law services
When it comes to insurance, the right protection means everything. For most people it means peace of mind and the reassurance that when something goes wrong, they get the help and support needed to resolve the situation. We provide outstanding legal support for our clients. This is underlined by the fact you have may have been referred to us by your insurance company, as we work for some of the largest and most successful insurance companies in Pakistan and Worldwide.
We’re experts in insurance law services
Although you may be benefiting from our expertise in insurance law without realizing it, if you ever had to make use of your policy, you’d know the difference it can make to have one of the largest law firms in Pakistan on your side.
Of course, you can’t buy your insurance from us direct, but it’s good to know that there are real legal experts behind your policy; experts who not only know the insurance market, but are leaders in the legal field, able to pursue your claims with a comprehensive knowledge of the legal claims process.
Requesting legal representation
We also offer a legal representation service for motoring offences and “totting up”, which means we can represent you in legal matters where you are facing the loss of your driving licence or imprisonment for driving related offences.