the statutory ratio indicating if the insurer has the assets for its current and future liabilities towards the insured, beneficiaries and victims to be covered; the value of the ratio should exceed 100 per cent.
expressed as the amount, a maximum limit to which the insurance is liable in a property insurance contract.
the amount for which the insurance benefit is not paid, and above which is paid in full. The action franchise usually involves an integral shut-off of minor damage whose decommissioning costs may be even higher than the amount of damage.
reduction in the compensation paid by a specified amount or percentage of the insurance sum. From a technical point of view its task is to leave on the client’s risk losses, which from an economic point of view are not […]
A special payment of insurance benefits in a situation where the liability of insurer is not fully confirmed (eg, different legal opinions), but for the customer’s good the insurer decides to pay it. Some also consider marketing payments to be […]
protection provided to a person who has applied for life insurance, even before the acceptance of this proposal by the insurer. As a rule, temporary protection is granted in a limited scope as compared to the final contract of insurance […]
the sum included in insurance contract. Typically, the sum is the upper limit of liability of insurer
loss of property, or other (eg, loss of health, life or even the birth of a child) as the result of a random event
one of the parties to an insurance contract. An indyvidual, or legal entity without legal personality, which enters into a contract and pays the premium
A person who is at risk. He/She is the subject of legal relationship resulting from this contract. It is this person who is protected, which is arising from the contract. This person, if the contract does not say otherwise, shall […]