I - Incomplete insurance, Infringement of insurance terms …
15 April 2008Incomplete insurance
Case in brave insurance, when the risk is insured for the sum, is less than the valid cost of property. In such cases compensatory payments decrease proportionally to difference between real and insured cost of risk.
Infringement of insurance terms
If the insurant breaks terms of insurance, the insurer can refuse performance of obligations taken by him under the contract
Insurance
The term designating the attitudes on protection of property interests of physical and legal persons at approach of certain events (insurance cases). Distinguishes voluntary and obligatory insurance.
Insurance case
The event, stipulated by the insurance contract, according to which the Insurer is obliged to indemnify received by the insurant.
Insurance cost
Cost of insured property at the moment of insurance contract signing. It is defined by the Insurer on the basis of the payment documents, given by the Insurant or with application of specialized directories.
Insurance coverage
The list of risks from which the insurance contract protects.
Insurance maintenance
The insurance payments made at insurance case or to the successor under the law.
Insurance premium
Payment for insurance which the Insurant is obliged to pay to the Insurer by way in terms, which are established by the contract of insurance.
Insurance risk
Probable event at which insurance case occurs.
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