Search:
Other
Rate

the price for an insurance unit; rates expressed in percent usually apply to the insurance sum (e.g. accident and theft insurance); rates expressed in amounts may be determined for a day of coverage (e.g. travel insurance) or for covering a […]

More
Other
Insurance accident

an event defined in the general terms and conditions of insurance or the insurance contract whose occurrence obliges the insurer to pay the claim indicated in the insurance contract.

More
Other
Underwriter

an insurer’s employee responsible for the individual risk assessment and the determination of insurance premiums corresponding to the peril covered by the insurer. Underwriters work for large medium and non-standards risks, where, apart from the actuarial determination of rates, individual […]

More
Other
Insurance prevention

any insurance-related activities leading to the decrease of the size and frequency of losses. Material prevention means the activities financed by insurers aimed at decreasing the perils (e.g. social actions which may influence the number of accident to be lowered, […]

More
Other
Total damage

the damage, whose consequence is loss (as in theft), destruction or damage to such an extent that its repair is not possible or economically justified.

More
Other
Risk management

a set of measures taken by an organization (e.g. an enterprise, a local authority) aimed at protecting the organization from any unexpected events when reaching its assumed goals. It is usually assumed that the risk management covers three stages of […]

More
Other
Partial loss

the loss where the object insured has been damaged to such an extent that its repair is possible and economically justified.

More
Other
Demutualization

the process of transformation of an insurer operating in the form of a mutual insurance company into a joint-stock company; it was carried out frequently for large life insurers (United Kingdom, USA or Japan) which traditionally used to operate in […]

More
Other
Pecuniary compensation

one of the ways of compensating an intangible loss, lying in the payment of an adequate amount of money to the sufferer for the loss suffered. Compensation may be claimed in case of a bodily injury, health detriment, total or […]

More