Roots of Insurance law can be found in marine industry. When traders started insurance of their ships and goods in the 12th and 13th centuries. During 18th century London became the center and largest maritime trade center and Underwriters prepared the agreement signed by both parties. At that time judge William Murray, Lord Mansfield, was developing the substantive law of insurance to an extent where it has largely remained unchanged to the present day. There are two development laws participated in current form of Insurance Law.
2. Civil Law
It is the Law more in favor of insured as for as insurance law is concerned. Civil Law regulate the content of insurance agreement better. It is more intended to the protection of vulnerable than encouraging entrepreneurship and business.
- Common Law
2. Civil Law
It is the Law more in favor of insured as for as insurance law is concerned. Civil Law regulate the content of insurance agreement better. It is more intended to the protection of vulnerable than encouraging entrepreneurship and business.
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