The document introduces the concept of insurance by defining it as a way to share risks and losses among a group of people. It discusses key insurance terms like risk, peril, hazard, contracts, premiums and rates. The main functions of insurance are explained as spreading risk among many individuals, providing security, enabling credit, and preventing losses. Different types of insurance like personal, commercial and special risks are also briefly introduced.

63. DEVELOPMENT OF AUTOMOBILE INSURANCE

76. THE AUTOMOBILE POLICY Albert Ontario Atlantic provinces Quebec Included under Section B Section 5 Section D Government insurance Uninsured Motorist Coverage New Brunswick Ontario Section A-1 Section 6 Direct Compensation – Property Damage All provinces expect Ontario and Quebec Ontario Quebec Section C Section 7 Section B Loss of or Damage to Insured Automobile All provinces expect Ontario and Quebec Ontario Quebec Section B Section 4 Government insurance Accident Benefits All provinces except Ontario Ontario Section A Section 3 Third Party Liability Province Policy Section Coverage