Problems around insurance against accidents in Ethiopian law

Abstract

People purchase insurance policies to spread the risks among a great number of individuals. Also such people take do care for unhappening of risks, they can not totally prevent the happening of the risks. Therefore, Insurance give them security to unexpected loss or misfortune by transferring these risks to vast majority of individual because sometimes it is hard to people to prevent the risk by themselves. From the above explanation we understand that insurance is an important devise of covering risks related with business and personal lives of a great number of people. Therefore, it is defined as a co-operative devise to spread the loss caused a particular risk over a number of persons who are exposed to it and who agree to insure themselves. against that risk. There are many types of insurance. Insurance against accidents is also one type of it. Due to rapid industrialization, and more use of complex machinery, industrial accidents are more frequent. To cater to the varying and increasing needs, there is form of cover is available. Individuals are granted this cover under insurance against accidents policy. Beyond this kind of insurance there are a number of problems in Ethiopian commercial code. Thus, the paper address such problems.