February 27, 2013

Understanding Insurance


Understanding Insurance - There are many kinds of kinds of insurance such as health insurance, car insurance, education insurance, life insurance, and others.

Understanding Insurance is a tool that is used to reduce the risk contained in the economy is by bringing together a number of units that can be exposed to the risk of the same, or nearly the same in a large amount, so that the probability of losses could be predicted and if losses are predicted correctly does happen it will be shared proportionately by all parties in the joint ".

PRINCIPLE - PRINCIPLES OF INSURANCE

There are some basic principles that are very important insurance that must be fulfilled by either the insured or the insurer for the contract or agreement applicable insurance.

1. Principles of Good Faith

It is an action to disclose accurately and completely, all material facts regarding something to be insured, whether requested or not. The meaning is: the bear should honestly explain everything clearly about the extent of the terms or conditions of insurance and the person responsible should also provide a clear and accurate description of the object or the interests of the insured.

2. The principle of interest that can Insure

It is a to insure arising out of a financial relationship, between those on the responsibility to the insured and legally recognized.

3. Principle of Indemnity

A mechanism by which the insurer to provide financial compensation to put people in a position of financial responsibility that he had prior to the loss.

4. Principle of Subrogation


It is a transfer of demand from people who paid to the insurer after the claim is paid.

5. Principle of Contribution

The right insurer to insurer invite other equally bear, but do not have the same obligations to the people who paid to help provide indemnity.

6. Principle of Proximate Cause

Means the active, efficient cause of events which lead to a result without the intervention of a force started and working actively from a new and independent source.

No comments:

Post a Comment