Reinsurance is the insurance from a third party of the insurance coverage offered by the insurer or more simply, the part of insurance risk undertaken by an insurer from another specialized insurer ca [..]

The object insured can be anything of substantial value or any event which can cause the loss of a legal right or legal liability.

Deductible is the agreed amount to be deducted from the compensation paid by the insurer and which burdens the policyholder. It can be agreed in terms of a contract that the insurer is exempted from p [..]

Compensation is an insurance principle which aims, as far as possible, to place the insured  in the same position he was in before his damage. It is not applicable in Life Insurance and generally in t [..]

Insurance is a mutual fund to which many people contribute to cover themselves from a random, unexpected loss (or/and from any damage which has been previously agreed on)

Percentage Insurance is the insurance which is originally agreed on under the terms of a contract, to correspond in percentage with the value of the insured item. It goes without saying that in case t [..]

First Loss Insurance is the insurance practice that covers only up to a maximum a possible loss, disregarding the overall value of the insured item, which can be much higher and in a case of a damage [..]

In case of Life Insurance, the Insured is the person whose life is insured. The concept of the Insured includes the protected members, which are the spouse and unmarried children who may be insured in [..]

An insurance contract is a private written agreement issued as required by the insurance company (otherwise invalid) and proves the insurance treaty. This document is proof and not constitutive. If th [..]

The word “Insurer” denotes the Insurance Business which is required to be of high capital base and high solvency and is responsible for compensating the beneficiary in the event that the covered risk [..]