An insurance agreement
An insurance agreement is described in the Civil Code 7 Article 925 paragraph 1 as an agreement between an insurer and an insurer where the agreement is a chance agreement as both parties do not know in advance whether the insurer must ultimately pay the insurer.
An insurance agreement has a condition for claiming a claim. This is a damage, in which the damage must be demonstrable.
In case of a signed agreement, the policyholder receives a policy (policy number) to prove that the insured is actually insured. The insurer is obliged to provide the insured with a policy and also, if necessary, to reimburse the insured with a new policy upon loss of the old.
In the insurance contract, compensation for any damage with a sum / formula must be recorded so that there can not be any unclear about this.
The agreement is also based on trust. This means that the insured must report all relevant information to the insurer prior to the conclusion of the agreement. Also, no insurance fraud can be committed, think about the confusion of information or cause deliberate damage. If this happens, the insurer is authorized to suspend the insurance policy.
An insurance agreement also stipulates that both parties have rights and obligations, the insurer pays cash according to the terms of the agreement and the insurer pays premium.
There are various forms of insurance.
Firstly, there is the Assurances Exchange, in which various insurers together provide a policy, and often an intermediary is attached. Together they set up policy conditions.
Secondly, there is the non-life insurance. This insurance covers the compensation for property damage. These are insurance policies that the insurer pays compensation for in case of damage in cases that are reimbursed under the terms of the insurance contract. Mostly, these insurance policies are terminated against the insured’s day value, for example, a car is reimbursed according to the current day value, for example, for buildings or inventory. However, statutes may also be included, for example, building a building against the rebuilding value.
These insurances make a clear distinction between the insured and the beneficiary. The insured is the person on whose life or health the insurance relates, the beneficiary is the one who receives the paid amount. In the case of summer insurance it is not important whether or not the beneficiary has a loss. In addition, summer insurance is limited to personal insurance, these are insurances that concern human or human life. However, it is important to mention that life insurance is not paid out when the beneficiary has the death of the insured on his or her conscience. If this is the case, the insurance company will not pay compensation.