ELI5: Explain Like I'm 5

Insurance law

Insurance law is a set of rules that people and businesses must follow when they want to buy insurance. Insurance is a product that helps to protect people and businesses against financial losses. Insurance law helps to ensure that insurance companies provide the coverage that people and businesses pay for and that they do so in a fair and honest way. Insurance law also helps to ensure that people and businesses make informed decisions before they buy insurance and that insurance companies are held responsible for any mistakes they might make.