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Assistance

services provided to the client under some determined circumstances, which are usually related to a random event; assistance services constitute a popular extension of coverage in case of motor, home or travel insurance but they can also be offered separately. […]

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Call centre

the place where, according to insurance conditions, the aid is ensured to the client in case of an accident; call centre usually provides the client with the necessary information by phone or, at the client’s request, organizes the necessary aid; […]

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Insurance agent

insurance intermediary carrying out activities on behalf of the insurer: the acquisition of customers, carrying out preparatory work for the conclusion of insurance contracts, concluding such agreements, and assisting in the administration and enforcement of insurance contracts.

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Technical result

result of the insurer’s activity with regard to insurance premiums, benefits, reserves and reinsurance; technical result shows that the insurer earns or loses on its core business.

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Confidentiality of Insurance

the legal prohibition of disclosing any information by the insurer on the individual contract of insurance. The confidentiality of insurance covers both the insurer and all its employees.

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Bordero

Traditional reinsurance billing document. Bordero distinguishes contribution (insurer settled with the insurance contracts) and damage (statement of benefits paid). Bordero is generally prepared on a monthly or quarterly basis.

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Cargo

insurance of goods in transport. In domestic transport a cargo insurance policy protects your interests, and usually is the responsibility of the owner of the goods while in the international transports cargo protects the interests of the owner of the […]

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Substandard premium

The premium defined for substandard risk, i.e. a higher one than the one assumed at the moment of calculating the average premium; it is applied most frequently in case of life insurance for persons whose risk of death or illness […]

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Reinsurance

a method of dispersion (distribution) of risk, used by isurers and based on giving some of the insured risks to another insurer or specialist reinsurer, by means of an agreed fee of reinsurance premium.

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Consumption of the insurance sum

is an insurance system used mainly in motor and fire insurance, where, after payment of compensation, the sum of insurance is reduced by the amount of compensation payment. There is a possibility of extra insurance for an additional charge an […]

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