Banking and Insurance Law

  • Komal Dayma

Abstract

Rules define the game that most people decide. Good laws can promote good behaviors such as cooperation, creativity, and hard work. Worst rules can damage the desired activity or worse, pushing for activities that make the society worse. Banks can be defined as economic activities of taking and protecting the money held by individuals and other entities, and then providing that money for profit. Insurance covers both life insurance products and other insurance products Apart from life insurance; it involves working with individuals and legal entities on risk management to protect against catastrophic losses and potentially potential risk predictions. Bank rules are a broad concept of rules that govern how other banks and financial institutions operate. The bank must abide by many federal and state regulations. Lawyers carry out a number of functions related to the development of practice and the implementation of standards. Bank rules cover multiple state and federal regulations that govern financial institutions. The Bank Law also deals with various transactions occurring when financial institutions play a role to serve clients and develop their businesses. Insurance laws are a set of laws and regulations that apply to insurance. Insurance is a contract between the two parties. It transfers the risk of loss to other parties for a contract against a so-called premium fee. Insurance laws and regulations governing and managing the creation and performance of insurance contracts. Insurance laws govern purchasing, offering, selling and insurance claims in the United States.

Published
2019-07-16
How to Cite
DAYMA, Komal. Banking and Insurance Law. Journal of Banking and Insurance Law, [S.l.], v. 2, n. 1, p. 12-16, july 2019. Available at: <http://lawjournals.stmjournals.in/index.php/jbil/article/view/271>. Date accessed: 21 sep. 2019.