Saturday, January 25, 2014

Insurance elements

1. The insurer is the legal , insurance company, which in return the insurance premium from the insured assumes the liability to cover damage goods or services provided ;
2. Insured person or entity that is insurance against events that may occur in his life, which provides property against natural disasters that insurance for damage you may cause to third parties ;
3. Insurance beneficiary is the person entitled to cash compensation or the sum insured without that party to the insurance contract;
4. Contractor insurance is optional insurance specific element and represent natural or legal person may take out insurance , without it to obtain quality assured ;
5. The insurance contract is the legal document which regulates the legal relations between the contracting parties. It consists of a set of documents comprising:

  • insurance application ;
  • insurance policy ;
  • contractual terms to ensure basic and additional clauses attached .

6. Insured risk event once produced , due to its effects on the insurer undertakes to pay the insured or beneficiary of insurance , indemnity or the sum insured ;
7. Assessment is to ensure specific element property insurance ;
8. The insured amount is part of the value of insurance for which the insurer assumes liability if the event for which the insurance ;
9. Norma insurance are insured amount established by law , the unity of purpose provided it is seen only if the property insurance requirements;
10 . The premium is the amount of money that the insured predetermined insurer pays for the Aces able to provide necessary insurance fund payment of compensation ;
11 . Period of insurance means the period of time the insurance shall remain valid relationship between insurer and insured as they were set by the insurance contract ;
12 . Damage (or damage ) is a good value insured loss due to the occurrence of the phenomenon against which the insurance ;

Insurance functions

One. Distribution function occurs primarily through the formation of the first insurance fund incurred due to natural and legal persons covered by the insurance.
Two. Control function seeks how to collect insurance premiums and other revenues of the organization of insurance, such payments are made by way of indemnity insurance, the costs of risk prevention, etc..
Ensure manifests as a branch of the service when a insurance company in exchange for premiums collected from individuals or businesses, offering them a service that is required to take upon himself the negative effects of an event or complex events.