a situation when the same item of insurance is insured at the same time against the same risk, which together exceed the value of insurance and if the item is insured by two or more insurers, the insurer may not […]

in life insurance it is an increase of the insurance sum and premium, respectively corresponding to the level of inflation indexation. In the long term indexation protects insurance contract against the dicrease of its value due to inflation.

insurance intermediary carrying out activities on of “the entity seeking insurance coverage” (ie client), involving the conclusion of or leading to the conclusion of insurance contracts, carrying out preparatory work before the conclusion of insurance contracts and assisting in the […]

insurance in a situation when the insurance sum is lower than the value of the insured property; the most unfavorable situation for the customer because in case of a serious injury, especially damage of the whole property, the insurer will […]

an insurance agent offering more than one insurer’s products from one department of insurance (ie life insurance and other personal insurance and property insurance).

in life insurance, it is a system of the insurer’s responsibility where the rule of proportion does not apply. In this case it is the client who determines the insurance sum, which is usually lower than the full value of […]

an insurance sales model assuming a direct (no intermediary) contact of the insurer to the client, in Poland often narrowly understood, and identified with the sale of insurance over the telephone and the Internet; broader definition could include further sales […]

Within reinsurance it is an insurance company reflecting the risk, the reinsured.

Statutory indicator of the level of capital protection activities conducted by the insurer; statutory rate should be higher than 100 percent, but this is the satisfactory level. It is generally accepted that capital is well secured when the index value […]

Statutory indicator of whether the insurer has assets to cover its current and future obligations to policyholders, beneficiaries and victims; value of the ratio should not exceed 100 percent.