Insurance law governs contracts between insurers and policyholders. It outlines the rights and obligations of each party in the event of a loss or claim. This law covers various types of insurance, including health, life, property, and auto. It ensures that companies act fairly and fulfill their coverage promises. Insurance law also addresses fraud, policy interpretation, and disputes over claims. Legal professionals in this area help clients understand their policies and pursue compensation when needed. It plays a key role in financial risk management and consumer protection. This field requires knowledge of both contract law and regulatory compliance.