Life is unpredictable, full of unexpected risks, or we need to understand is insurance. In recent years, natural disasters and many victims were the two people and things that remind such insurance obligation, has died. Economics for every member of society, including the risk of disability is (unfortunately) still (Kamaluddin: 2003) is. Mechanisms to overcome the loss of people now know that the development and insurance.The main function of the mechanism of risk insurance (risk transfer mechanism for the transfer) to reduce the other party (the insured) to another party (insurance) to transfer the risk. risk transfer is not provided, a financial guarantee insurance companies to exclude the possibility of an accident (financial security) and resting (rest) are insured. In return, the potential losses that may occur in a very limited number of insured (Morton, 1999) are compared with the premiums paid.Essentially, in this case the insurance company (insurance contract law between the insured and the insurance company), provides insurance and loss of some, considering the future (to cover the award) occurred, some policyholders.
In 1992, the second law, the relationship between the political parties involved in liability insurance for the insured an agreement between two or more insurance based on premiums for insurance against accept loss of profit or loss, the insured died in an uncertain event or payment, either implicitly or legal liability to pay the insured or have saved his life.Potential (which may occur), insurance (insured) to cover the loss, but)), 3 losses), the uncertainty of loss limits, the following features: the loss of two You: The four main 1) prediction loss, 5) the loss of the disaster (catastrophe), the insurance can be.The problem is, what is death, why is the warranty? It 's also the precise moment at which what is included for the death of persons outside the control of the TSB Bank. Therefore, the actual time of death scene include the uncertainties of insurance.To determine the two forms agree to pay the insurance will be held at the end of the contract (contract) and compensation (Compensation Agreement) values. The contract was agreed a payment of pre-determined. For example, the value of insurance (UP), a life insurance. compensation agreement, the number to be agreed santunannya the actual economic losses. For example, the cost of hospital care.In the case of catastrophic insurance companies / loss potential to reduce the risks of other major insurance companies and can be transferred. This is a re-insurance, reinsurance, reinsurance is called to accept the name.In addition to these five characteristics, namely insurance companies, must be secured before the anti-choice insurance benefits to your account. Insurable interest in relation to compensation for the insured and beneficiary of benefits - the potential loss. For example, insurance companies are not selling insurance policies for fire insurance parties other than the owner of the property. MLP insurable interest in your eyes that sort of thing is sure. Similarly, family relationships, the financial effort is a form of insurance benefits. Anti-choice (selected) definition assumes the existence of insurance tends to provide more than his average because of the risk. For example, people are bad for your health, the risk of hazardous work or tend to buy insurance. To reduce the adverse selection to find the insurance company must be able to classify the potential risk or loss. classification process and the level of risk identification is known as underwriting and risk selection. Sub risk (standard, but for the particular risk, this sub-average risk premium on the loss of anti-choice (in his application for insurance may be denied insurance subject to a special bonus standard fact)), not much except to the extent that the loss is not high, probably was denied his claims.
