What is Insurance Law?

Insurance law; It is the branch of law used to resolve disputes between the insured and the insurer. Within the scope of this branch of law, it examines the rights and obligations arising from the contracts in which the insurer undertakes to indemnify or act in case of a danger that harms a monetary benefit of the person.

Insurance law, which is within the scope of Commercial Law, has become widespread with the development of insurance in our country. The Insurance Law, which regulates the relations between the insurer and the insured, provides the management of the process within the scope of accident, death and personal insurance types. Preparation of insurance contracts, termination, partial annulment or withdrawal, bankruptcy of the insurer, collection of the payments for the injured party, accident insurance, pension, health and life insurance disputes are also within this scope.

Why is Insurance Law Necessary?

Insurance Law is important for businesses and individuals to be aware of their rights and to act according to these rights. Insurance law will come into play to cover the pecuniary and moral damages of both parties and will decide what the parties should do within the legal framework. Insurance law, which regulates the insured and insurer relations, is one of the important branches of law.