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Insurance in Pakistan is regulated under the Insurance Ordinance, 2000. It is divided into three components: life insurance, general insurance and health insurance.The Government of Pakistan established the Department of Insurance in April 1948 as a department of the Ministry of Commerce; the aim of this department is to take care of affairs related to the insurance industry.
The judiciary of Pakistan is the national system of courts that maintains the law and order in the Islamic Republic of Pakistan. Pakistan uses a common law system , which was introduced during the colonial era , influenced by local medieval judicial systems based on religious and cultural practices.
Short title and commencement: This Act may be called the Constitution (Twenty First Amendment) Act, 2015. It shall come into force at once. The provisions of this Amendment Act shall remain in force for a period of two years from the date of its commencement and shall cease to form part of the Constitution and shall stand repealed on the expiration of the said period.
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The policy term is the period that an insurance policy provides coverage. Many policies have a one-year term (365 days) but other terms both longer and shorter are used. Policy terms can be for any length of time and can be for a short period when the period of risk is also short or can be for multi-year periods.
A policyholder (or policy holder) is the person who owns the insurance policy. Policyholders affect how much the car insurance costs and, in most cases, the policyholder is the only person who can ...
Subject to the "fortuity principle", the event must be uncertain. The uncertainty can be either as to when the event will happen (e.g. in a life insurance policy, the time of the insured's death is uncertain) or as to if it will happen at all (e.g. in a fire insurance policy, whether or not a fire will occur at all). [4]
KARACHI, Pakistan (Reuters) -Former Pakistani Prime Minister and cricket star Imran Khan was jailed for 14 years on Wednesday on charges of illegally selling state gifts, a day after he received a ...