Doctrine of Assurance

The Doctrine of Assurance refers to the principle that an insurance policy provides certainty to the insured about the payout in case of a specified event, within the limits of the policy. It ensures that when an insurer issues a policy, the agreement is binding, and the insurer cannot deny coverage unjustly if the terms are met. Essentially, it guarantees that the insurer's obligation is assured once premiums are paid and conditions fulfilled, giving the insured confidence that they will receive compensation when a covered risk occurs.