Global Design And Business

Most insurance companies are corporations in which the sovereign body is the Assembly of Shareholders and its governing body the Board of Directors or Directors appointed by the shareholders meeting in assembly.

Directory Management reports directly to the General, who, like any business, is the executive responsible for driving the company pursuant to resolutions adopted at that.

Acceptance and Issuance of Insurance Policies

The issuance of the policies is done via the following steps:

1. Application of insurance.

2. Verification of all information contained in the application.

3. Acceptance of insurance.

4. Issuance of the policy.

The application is the proof of insurance whereby the insured asks the insurance company a certain. Therefore it contains the information necessary for the insurer knows exactly who has the risk of running out insurance. The main data are:

* Date.

* Identification Data insurable.

* Object and the insurance risk.

* A description of the thing to be sure.

* Amount of insurance.

The declaration reduces health costs of issuing the policy, because it is less costly to make such a statement verifying the medical review, and simplifies management at the insured to induce him to take a life insurance. Accepted the request, the policy is issued pursuant to that data and delivers accordingly.

Premium: The price of insurance that pays the insured to the insurer as consideration of the risk he takes and the commitment which is their consequence.

There are different types of bonuses:

* First natural

* Pure Premium

* First Commercial

* First level

* Single premium

* First regular

Premium natural: In the life insurance premium is dependent on the mathematical calculation of risk. For this reason, a higher risk, the higher the premium natural and vice versa.

Premium: The risk premium of other classes of insurance.

First name: this is the premium paid by the insured and actually consists of two parts: the premium or pure natural on the one hand and operating costs and profit of the insurer on the other. Of these costs are the most important:

* Commission for producers who placed insurance.

* Commission charge that is payable to staff for the collection of premiums.

* Administrative expenses and advertising.

* Surcharge for splitting the premium. The premium can be split through regular contributions, and this gives rise to a charge, as is often the case with sales to run.

* Margin of safety. It is a charge for any increase in expenditure and in particular the possibility of an increased risk.

First level: The implementation of premium natural simple to calculate the premium would be prohibitive commercial life insurance, from a certain age. In this case the premium commercial and continuous increase of the time when the insured desistiría of the contract given the high price they must pay for their insurance. It has therefore been necessary to level premiums so that the premium market is the same in life insurance for the duration of the contract.

Single premium is payable by the insured when it is done on a single occasion.

Periodic premiums: the premium is paid only with partial payments, thus providing a possibility that the insured can decide on the merger of these operations.

The risk: It is a major factor in the insurance business. Is the subject of insurance as a prevention measure uncertain event that occurs forces the insurer agreed to pay compensation. In the insurance risk is always uncertain. Even the death of a person who has fatally happen sooner or later, is an uncertain event could be sure, because no one knows when it has to happen.

For an uncertain event, it can certainly not depend on the willingness of insured since then there would not be able to secure. The risks are also on the things a certain regularity which makes the field of insurance. The insurer has established practice standards for measuring risk and calculating the standards to be collected by the insurer.

Determines the risk premium charged, and consequently for aggravated risks related to the normal risks, the premium will be higher. In the insurance risk assumed by the insurer must be defined very clearly, because it is a crucial element in this agreement.

Furthermore, it is necessary that the subject matter of insurance is properly characterized in order to enable the insurer to know where lies the risk.

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.

* Fire Insurance

This insurance covers movable and immovable property against the risk of fires. The insurer compensates the insured for the damage they had suffered property insurance subject, owing to a fire, his post provided he has not been intentional.

* Insurance against hail: Plantations can be very damaged, with the fall of hail, so this insurance provides a truly useful service to farmers who have sown their insured against the risk. Only compensation for damage caused by hail without taking into account losses that might have caused the lluviaso wind.

* Motor vehicle insurance

Liability: For a third and injuries caused by damage to these things. If the owner of the vehicle insured from accidents cause injuries or death of a third, the company responds to a certain amount. Compensation for damage is lower.

Fire, accident and theft: the policy protects the owner of the vehicle against these risks in accordance with the sum insured. In case of accident insurance covers damage to the vehicle.

* Secure transport

Can be rainy sea, land and air, covering the risks that weigh on the means of transport, passengers carried and effects. The company compensates the owner of the means of transport damage they may suffer in fulfilling its mission by several accidents, according to the sum insured. Also this insurance covers the damage or injury passengers may suffer as a result of transportation accidents.

* Insurance crystals

This insurance provides compensation to a person or company for damages that may result in breakage of the crystals of its business or property.

* Theft Insurance

Covers loss that you may experience a person for theft or shoplifting.

* Credit insurance

Covers the loss it causes, or appears to the insolvency of their business borrowers. Using a premium the insurance company undertakes to indemnify the loss and replacement in the actions that you can try to pursue the recovery of debt.

* Insurance employees’ loyalty

It took the companies to cover losses that may be suffered by infidelity of employees in case of fraudulent maneuvers.

* Insurance in case of death: In this type of insurance, the death of the insured, the insurer pays the beneficiary up by that amount of insurance.

* Insurance in case of life insurance In the insurer pays the insured amount of insurance, provided they live to maturity of a given period of time. You can also agreed to pay a regular income while the insured lives, from a date fixed in advance.

* Insurance mixed up a combination of insurance against death and life. Therefore, the amount of insurance paid to the beneficiaries if the insured dies before the expiration of the contract and was delivered to him if survival to that date.

According to cover one or more heads

* Insurance on a head: the insurance is paid when the insured person dies.

* On two or more heads: This contract will ensure the life of two or more people and the insurance is paid when one dies for one or the other.

Attentive to the number of persons covered by the policy

* Individual Insurance: A contract by which a person is assured a certain death, life, or both.

* Insurance group: These contracts will ensure the life of many people. The insurance pays the death of these, the beneficiaries instituted.

According riders

* Insurance with additional clauses: In accordance with these terms the policy may provide other benefits.

* Insurance free riders: Those whose insurance only provides insurance against death, life or both.

Insurance is a contract whereby one party (the insurer) undertakes, through a premium paid to the other party (the policyholder) to compensate an injury or if you meet the agreed delivery scheduled event occurs, as be an accident or a fire, among others.

The insurance contract may cover all types of insurable risks if there is interest, unless expressly prohibited by law. For example:

The risk of fires.

or risks of the crops.

The lifetime of one or more individuals.

or risks of the sea.

The risk of transport by air or land.

The insurer is usually an insurance company organized under the corporate form, but there are also cooperative and mutual insurance companies and even a government agency – The Savings and Insurance – performs operations. Also, in some provinces insurers operating officers.

The insurance contract is consensual, bilateral, and random. Because it is consensual is perfected by mere consent of the parties and produces its effects has been done since the convention, because it causes bilateral rights and obligations between the insurer and insured, and is random as it relates to compensation for a loss or damage caused by an event or an uncertain, because no one knows if there will be and in the case – like death – do not know when it has to happen.