What is insurance? What are the kinds?

 

What is insurance? What are the kinds?

 

 

Insurance
Is a social system that aims to form a reserve to cope with the losses unconfirmed against capital by shifting the burden of risk from several people to one person or group of persons, ie It is a system designed to reduce or minimize the phenomenon of uncertainty for the financial losses by shifting the burden of risk.
What is the importance of insurance activity?

Summed up the importance of insurance activity are as follows:
1 – To achieve the principle of cooperation between a group of individuals exposed to the same risk and secure their future participation in carrying dangers that they are exposed.
2 – insurance helps to preserve the wealth of facilities compensating them for the outputs of the dangers that may be exposed to these resources, such as fire – theft …….
3 – conservation of energy productivity
4 – Creating and breadth of credit through loan guarantees to ensure the documents other than contribute to the economic growth of the projects.
What are the characteristics of insurance activity?
1 – build on the principle of cooperation.
2 – is characterized by the existence of insurance activity contractual association between the insurer and the insured
3 – is based on a compilation of insurance activity Savings of gatekeepers in the different branches of insurance in the form of premiums.
4 – insurance activity is characterized by multiple branches of activity.
5 – characterized by decades (documents) insurance Lasting for several periods of financial difficulty and thus determine the outcome of the activity.
What types of insurance?
There are several divisions of Insurance
First, in terms of the fundamental division is divided into: –
– Private insurance
– Social insurance
Secondly, in terms of practical insurance division is divided into: –
– Life insurance
– General Insurance.
What is your insurance?
Insurance is a contract by which a person to benefit from it personally to secure himself from a particular risk.
What are the characteristics of private insurance? Characterized by the following features private insurance.
1 – it’s optional insurance is due to the desire of the beneficiary himself.
2 – insured pays the premium in full.
3 – is not subject to this type of insurance to the supervision of the government.
What is social insurance?
Intended to secure individuals (whose livelihoods depend on the work) against risks that may prevent them from performing this work is like a disease – the deficit – or aging or death and unemployment.
What are the characteristics of social insurance?
Characterized by social insurance thus: –
1 – The basic proposal of this type of insurance is a social solidarity.
2 – It is compulsory insurance imposed by the state is not optional
3 – insured pays part of the premium and the state holds the employer or the second part.
What types of life insurance?
Life insurance is divided into:
– Life Insurance Life Insurance
– Personal accident insurance.
What are the types of reinsurance operations?
Can be divided reinsurance operations into three main types.
A – compulsory reinsurance operations
B – reinsurance operations are optional.
C – re-insurance agreement.
What are the elements of the revenue generated by the insurance companies?
Consists of income from the insurance company
– Premiums
– Reinsurance commission issued
– Net income from investments – other income.
What is meant by insurance premiums?
Installment is the main source of revenue which is the amount owed on the insured under a contract of insurance entered into between the parties and is committed to cap the insured against the receiving or beneficiary access to the amount of insurance in the event of the risk insured against.
What are the most popular types of hazards and any type of insurance covered?
* The risks of accidents and injuries covered by personal accident insurance
* The risks of old age and aging and covered by pension insurance
* The dangers of the disease and covered by health insurance
* The risks of death and covered by life insurance
* The dangers of fire and covered by insurance from fire
* Risks of aircraft accidents and aircraft covered by insurance
* The risks of theft and covered by insurance from theft and robbery
* The dangers of drowning and covered by marine insurance
* The risks of natural disasters and covered by insurance from earthquakes and hurricanes
* Risks of loss and the loss of profits and covered by insurance profits
* Dangers stop working and covered by insurance to stop working
* The risks of civil liability and civil liability covered by insurance and private business owners, cars, ships and other
What are the types of documents and marine insurance?
In general be two (open or closed)
(1) and trip insurance policies against certain specific hazards of the journey and the start until arriving at the port of destination safely and securely.
(2) insurance policies ALD is the term he has to have a minimum of one year which is the most common.
(3) and cargo insurance policies against fire, assault and thrown in the sea and the stop authoritarian and disasters, damages, there are some exceptions for some species that are not covered by these documents, mostly food.
(4) documents to secure the ship or her body and its organs and Qoarabha and furnished from the dangers of piracy and banditry and warships, assaults, fires and stop an authoritarian and a betrayal of the crew and damage public Kalhawwadt and clashes and other