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any unexpected happening (traffic accident, fire, explosion, natural disaster, etc.) causing loss, injury or death during the term of an insurance contract, excluding those caused by felonious acts of third parties.
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the designated recipient of insurance benefits. Beneficiary is specified in the insurance policy.
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a sales and service representative who handles insurance for clients, generally selling insurance of various kinds and/or of several companies.
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responsibility to a third party associated with injury or damage to health, life or property caused by the use or possession of an insured object. Liability can also stem from the inadvertent violation of law or contractual obligations.
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liability insurance plan for international travellers. In many countries, a Green Card is required to operate a motor vehicle. Check with IngoNord for specification.
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insurance of a group of people with similar interests. Insurance policy is given to the employer or any other representative of the group. Each group member receives a certificate stating the insurance.
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insurance of transport vehicles (e.g., vessels, airplanes, motor cars) covering damage to, or loss of, the vehicle only (not passengers, cargo, third-party liability, etc.).
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total or partial payment by an insurer to indemnify the insured against contingencies under the terms of an insurance contract.
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list of risks against which an insurance contract is drawn.
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the specific premium payments per unit of a sum or amount insured. Can also be viewed as the price of the insurance risk.
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amount to be paid to the insured under an insurance contact. Insurance sum cannot exceed the value of the insured object.
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individual or entity contracting with the insurer; client of insurer.
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the party to an insurance arrangement who undertakes to indemnify for losses, provide pecuniary benefits, or render services. On the international insurance market, the word 'underwriter' can also be used.
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the highest amount that a liability insurer will pay on a claim.
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a document that gives permission to provide specified insurance services.
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international insurance market positioned in London as the world financial centre.
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the insurance contract which specifies the terms and conditions of an insurance. Can also be used in court as a proof of insurance.
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written document given by one person or party to another authorizing the latter to act for the former.
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to insure under a contract by which a first insurer relieves himself from a part or all of the risk and devolves it upon another insurer.
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a period of time for which the object is insured.
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a professional insurer who assesses risks for insurance of property or persons (underwriting). An underwriter is authorized to accept insurance risks and determine applicable prices, terms and conditions.
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