Pay the premium: the policyholder must pay the premium plus any taxes, fees, and other sealed regargos establishing or authorizing the insurance regulations.

The total of what the policyholder must pay the prize is sure.

If the premium is not paid on time, the insurer is not responsible for the sinistro occurred prior to payment.

The premium can vary during the contract, increasing or decreasing when increases or decreases the risk covered.

Report the status of risk: The policyholder should accurately describe the risks, in relation to the person or thing on which rests the insurable interest.

Reluctance to be called false claims or circumstances known to silencing, which experts believe would have prevented the contract, or modified their conditions. The reluctance entitles the insurer to cancel the contract.

Report worsening of the risk: The holder must report all the facts, themselves or others, which may exacerbate the risks, increasing the possibility of loss.

Report the accident: The policy holder must report the incident within three days of events. Must report and prove the damage it has suffered and allow the insurer to verify the existence of the act and the harm occasion.

Rescue: The holder must do everything necessary to prevent or lessen the damage.

Insurer: Insurers can only act as joint stock companies, cooperatives and mutual insurance companies. You can also secure the State.

Insurers must be licensed to operate by the Superintendencia de Seguros de la Nacion. This institution audits, establishes policy conditions and amount of premiums, reserves and investments determined to be carried out and controls the administration and economic and financial situation.

The Insured: The law distinguishes between those of the policyholder, the insured and the beneficiary.

* The policy-holder is the person who holds the contract.

* The insured is the owner of insurable interest.

* The beneficiary is to receive the compensation.

The holder differs from the insured when the insurance provided by a third party or on behalf of whom it may concern. ”

For its part, the insured and beneficiary generally coincide. Are separated for example, life insurance, where life is assured for the benefit of another person.

Policy: The written instrument in which the terms of the contract. Although not essential for the existence of the contract, the insurance practice has imposed no exceptions.

May be issued to order or bearer, except in certain people, who should be nominated.

The text is generally uniform for different types of insurance. Riders and special modifications to the content of the policy and are called endorsements are written on a separate sheet, which adheres to it.

Deadline: If the term of the contract is not specified in the contract is presumed to be one year, unless the nature of the risk premium is calculated by a different time.

The obligations of the insurer to begin the twelve-hour set and end at twelve o’clock on the last day of term.

Despite the agreed period, either party may terminate the contract before its expiration, with repayment to the holder of the proportional premium for a term not run.