The Fundamental Principles of Insurance Law

“The Essentials of Risk and Insurance” takes you on a deep dive into the world of risk and insurance. It serves as a great reference guide to all insurance practitioners across all aspects of insurance operations – from underwriting to claims; and from reinsurance to finance. Nothing has been left out! The breadth and depth of the topics covered also makes it an ideal study material for students of insurance both at the undergraduate and professional levels.

Readers can expect to learn the following:

1. A detailed and complete explanation of risk management in all its component parts.

2. An elaborate discussion of Enterprise Risk Management and Business Continuity Management.

3. A comprehensive analysis of all theoretical concepts in insurance.

4. A blow-by-blow account of the historical development of insurance in Ghana.

5. An extensive elucidation of the regulatory landscape of insurance in Ghana; it distils the Insurance Act, 2021 (Act 1061) and draws out the essential elements of the legal and regulatory framework of insurance in Ghana.

6. An exhaustive description of all the functions that are performed in an insurance company – production and underwriting; the insurance claims process; control functions; finance and investment function; and the reinsurance function.

7. A detailed coverage of IFRS 17 Insurance Contracts; it discusses this all-important IFRS standard in a manner that makes it easily understandable for even the uninitiated in accounting and finance.

8. A bonus chapter on insurance ratio analysis, covering all critical metrics for evaluating the financial performance of insurance companies.