ABSTRACT
In a day and age when insurance has become an integral part of practically every business activity and when society has built into the legal system the benefits and effects of insurance, it is imperative for those responsible for decision-making to know and understand the structure of the insurance market. Furthermore, it is important for them to know and understand the relationship and interplay between the various authorities who control the insurance scene, how insurance is transacted and operated and who derives the benefits generated or the losses suffered.
