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Information on insurance
Insurance
Is a social system designed to form a reserve to meet the losses of others, saying to the capital by shifting the burden of the risk of several persons to one person or group of persons, any system that is designed to reduce or minimize the phenomenon of uncertainty Uncertainty of financial loss through the transfer of the burden of risk .
Activity is the importance of insurance as follows:
1 - To achieve the principle of cooperation among a group of individuals exposed to the same risk and to ensure their future participation in shouldering the risks they are exposed.
2 - Insurance helps to preserve the wealth of plant loss to the outputs of the possible risks of such wealth, such as the fire - theft .......
3 - to maintain the productive capacity
4 - the creation and expansion of credit through loan guarantees to ensure the documents other than contribute to the achievement of economic growth of the projects.
Characteristics of insurance activity
1 - building on the principle of cooperation.
2 - activity is characterized by the existence of the Association of the insurance contract between the insurer and the repository
3 - the insurance activity is based on the compilation of the custodians of the savings in the various branches of insurance in the form of premiums.
4 - a multi-activity insurance branches of activity.
5 - are contracts (s) of insurance spillover of several financial periods and therefore difficult to determine the outcome of the activity.
Types of insurance
There are several divisions of the insurance
First: in terms of the fundamental division is divided into: --
- Private insurance
- Social insurance
Second: in terms of the practical division of the insurance is divided into: --
- Insurance of Persons
- General insurance.
Private insurance
Is the insurance contract by the person to benefit from it personally to insure the risk of a given.
What are the characteristics of private insurance?
Private insurance has the following characteristics.
1 - optional insurance that is due to the desire of the beneficiary himself.
2 - repository premium paid in full.
3 - not subject to this type of insurance to the supervision of the government.
Social Insurance
Intended to ensure the individuals (who depend for their livelihood to work) against risks that may prevent them from performing this work, such as disease - disability - or death, old age and unemployment.
What are the characteristics of social insurance?
Social insurance is characterized by the following: --
1 - The proposal of this type of insurance is social solidarity.
2 - that the State imposes compulsory insurance is not optional
3 - part of the repository to pay the insurance premium by the employer or the second part.
Types of insurance of persons
Insurance of persons is divided into:
- Life insurance
- Personal accident insurance.
Types of reinsurance
Can be divided reinsurance operations into three main types.
1 - Re-insurance compulsory
2 - Re-Insurance is optional.
3 - re-insurance agreement.
Elements of the income generated by insurance companies
Consists of income from the insurance company
- Premium
- Commission of reinsurance
- Net income from investments
- Other income.
What is the insurance premiums?
Premium is the main source of income, which is the amount due on the repository under the insurance contract between the parties is committed to pay in return for the insured or his beneficiaries to obtain the amount of insurance at the time of the insured risk.
Months, the types of hazards, and any type of insurance covered
* The risks of accidents and injuries covered by personal accident insurance
* The risks of old age, old age and are covered by pension insurance
* The dangers of the disease and are covered by health insurance
* The risks of death and are covered by life insurance
* The dangers of fire and the fire covered by insurance
* The risks of aircraft accidents and aircraft covered by insurance
* The risks of theft and are covered by insurance against theft and robbery
* The dangers of drowning accidents and are covered by marine insurance
* The risks of natural disasters and are covered by insurance against earthquakes and hurricanes
* The risks of loss and loss of profit and are covered by insurance profits
* The dangers of a work stoppage and are covered by insurance work stoppage
* The risks of civil liability and are covered by liability insurance, especially business owners, cars, ships and other
Types of marine insurance
Generally be two (open or closed)
(1) and insurance against the risks of a particular defined the start of the trip and even arriving at the port of arrival in peace and safety.
(2) and fixed-term insurance is the term to have a minimum of one year, the most common.
(3) and of the insurance of goods against fire, abuse, dumping at sea and suspensions authoritarian, disasters and the damage and there are some exceptions to some species that are not covered by these documents and most food.
(4) and of the body or to secure the ship and its organs and gunboats and furnishing of the dangers of piracy and robbery, warships and assault, fire, suspension and breach of authoritarian crew and public bads, such as accidents, violence, and others.
11:09 AM
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