Service Insurance has a lot of sense, but in principle has the meaning
insurance transaction, which involves two parties, the insured and the insurer.
where the insurer guarantees the insured party, that he would get a replacement
against any loss which may be suffered, as a result of an event which was
originally not necessarily going to happen or who previously could not be
determined as / when it happens. As a counter-performance of the insured in the
compulsory pay some money to the insurer, the amount of a percentage of insured
value, which is called "premium".
Viewed from some angles, then the insurer has the purpose and techniques of various solutions, among others:
a. In terms of economy, then:
The goal: reduce the uncertainty of the results of the work done by a person or company in order to meet the needs or achieving goals.
Technique: by way of transfer risk to another party and other parties to combine a number of substantial risks, so it can be estimated with more precision the magnitude of potential losses.
b. In terms of law, then:
The goal: move the risks faced by an object or a business activity to another party.
Techniques: through payment of premiums by the insured to the insurer in the compensation contract (insurance policy), then the risk passes to the insurer.
c. In terms of Governance Commerce, then:
The goal: to share the risks facing insurance program to all participants.
Technique: transfer of risk from an individual / company to a financial institution engaged in risk management (insurance companies), which will divide the risk to all participants to handle insurance.
d. In terms of the Community, then:
The goal: to bear the loss jointly among all participants insurance program.
Technique: all members of the group (group members) service insurance program to contribute (in the form of premiums) to sympathize loss suffered by one / some of its members.
e. In terms of Mathematically, then:
The goal: to predict the likelihood of risk occurrence and the prediction results as a basis for dividing the risk to all participants (a group of participants) insurance program.
Techniques: calculating the likelihood based on the theory of probability ("Probability Theory"), conducted by the actuary and the underwriter.
Three Forms of Services Insuranc
GENERAL INSURANCE:
Which consists of insurance for the Property (Property), Financial Interests (Pecuniary), Liability (Liability), and Self Insurance (Accident Insurance and Health Insurance).
LIFE INSURANCE:
Those dealing with the death of the insured in an insurance period or remain alive until the end of the relevant Life Insurance Policy. Insurance companies are also allowed to market products Accident and Health Insurance.
SOCIAL INSURANCE:
Compulsory insurance is a program organized by the Government under the Act. The aims and objectives of Social Insurance is to provide the basic guarantee for the community and aims not gain commercial advantages.
Basic Insurance
Definition of Insurance
Definition of Insurance when the review from a legal perspective are:
"Insurance or coverage is an agreement between the 2 (two) or more parties where the insured party binds himself to the insurer, to receive insurance premiums to provide reimbursement to the insured for loss, damage or loss of profits that is expected or legal liability to third parties which may be in pain because of an event which the insured is uncertain, or to provide payment for life or death in insurance person. "
Definition of Insurance when the review from a legal perspective are:
"Insurance or coverage is an agreement between the 2 (two) or more parties where the insured party binds himself to the insurer, to receive insurance premiums to provide reimbursement to the insured for loss, damage or loss of profits that is expected or legal liability to third parties which may be in pain because of an event which the insured is uncertain, or to provide payment for life or death in insurance person. "
Basic Principles of Insurance
There are some basic principles of service insurance is very important that must be fulfilled either by the insured and the insurer for a contract / agreement applicable insurance (not canceled).
The principal prinsip2 Insurance is as follows:
• Principle of Good Faith (Utmost Good Faith)
• The principle of interest that can in Insure (Insurable Interest)
• Principle of Indemnity (Indemnity)
• Principle of Subrogation (Subrogation)
• Principle of Contribution (Contribution)
• Principle of Cause and Effect (Proximate Cause)
There are some basic principles of service insurance is very important that must be fulfilled either by the insured and the insurer for a contract / agreement applicable insurance (not canceled).
The principal prinsip2 Insurance is as follows:
• Principle of Good Faith (Utmost Good Faith)
• The principle of interest that can in Insure (Insurable Interest)
• Principle of Indemnity (Indemnity)
• Principle of Subrogation (Subrogation)
• Principle of Contribution (Contribution)
• Principle of Cause and Effect (Proximate Cause)
Basic Principles of Insurance
The insurance industry, both general insurance and life insurance, have principles that guide the entire implementation of the activities of service insurance wherever located.
Insurable Interest (Interest insured)
You are said to have an insurable interest in the object if you suffer financial losses in case of disasters that cause harm or damage to the object. Financial interests allows you insure your property or interests.
The insurance industry, both general insurance and life insurance, have principles that guide the entire implementation of the activities of service insurance wherever located.
Insurable Interest (Interest insured)
You are said to have an insurable interest in the object if you suffer financial losses in case of disasters that cause harm or damage to the object. Financial interests allows you insure your property or interests.
In the event of disaster for the
insured object and proved that you do not have a financial interest in the
object, then you are not entitled to receive compensation.
Insurable interest (interests of the insured) means the customer has an insurable interest. This arises from a recognized financial relations law.
Relationship may arise because:
1. Law
According to customary law, a person or property owned by someone other than the person, also owned by his family. Thus, a father can buy insurance for the child or property belonging to his son, and vice versa.
2. Law
For example according to the Act, every passenger transport companies are required to be liable if there is a passenger who had an accident. Therefore, transportation companies are allowed, even obligated, to purchase accident insurance for passengers.
3. Contract
For example in a building contract, the contractor burdened with the responsibility to complete the building. Thus, the contractor may purchase insurance protection contractor all risk.
People said to have insurable interest in the insured object if the person is suffering financial losses in case of disasters over the object. In the event of disaster for the insured object and proved that the person does not have a financial interest in the object, then the person is not entitled to receive compensation.
Example:
Mr A house insured neighbors (Mr. B). At the time of the disaster on the house, Mr. A filed a claim to XYZ Insurance. How is the solution? XYZ will reject the claim.
Insurable interest (interests of the insured) means the customer has an insurable interest. This arises from a recognized financial relations law.
Relationship may arise because:
1. Law
According to customary law, a person or property owned by someone other than the person, also owned by his family. Thus, a father can buy insurance for the child or property belonging to his son, and vice versa.
2. Law
For example according to the Act, every passenger transport companies are required to be liable if there is a passenger who had an accident. Therefore, transportation companies are allowed, even obligated, to purchase accident insurance for passengers.
3. Contract
For example in a building contract, the contractor burdened with the responsibility to complete the building. Thus, the contractor may purchase insurance protection contractor all risk.
People said to have insurable interest in the insured object if the person is suffering financial losses in case of disasters over the object. In the event of disaster for the insured object and proved that the person does not have a financial interest in the object, then the person is not entitled to receive compensation.
Example:
Mr A house insured neighbors (Mr. B). At the time of the disaster on the house, Mr. A filed a claim to XYZ Insurance. How is the solution? XYZ will reject the claim.
When insurable interest must exist?
1. For this type of property insurance (property), insurable interest must exist at the time of purchasing insurance and in the event of a claim.
2. For marine cargo insurance, the status of the goods is a commodity, insurable interest must exist at the time the claim occurred. The reason is during the trip, merchandise can be changed owners since buying and selling process.
3. For life insurance, insurable interest must exist at the time of purchasing insurance.
1. For this type of property insurance (property), insurable interest must exist at the time of purchasing insurance and in the event of a claim.
2. For marine cargo insurance, the status of the goods is a commodity, insurable interest must exist at the time the claim occurred. The reason is during the trip, merchandise can be changed owners since buying and selling process.
3. For life insurance, insurable interest must exist at the time of purchasing insurance.
Utmost Good Faith (Perfect Honesty)
What he meant is that you are obliged to inform clearly and carefully about all the important facts relating to the insured object. Even this principle explains the risks that are guaranteed and which are excluded, all terms and conditions of coverage are clearly and accurately. The obligation to provide the essential facts are valid:
What he meant is that you are obliged to inform clearly and carefully about all the important facts relating to the insured object. Even this principle explains the risks that are guaranteed and which are excluded, all terms and conditions of coverage are clearly and accurately. The obligation to provide the essential facts are valid:
1. Since the agreement concerning the service insurance agreement discussed until the insurance contract is completed, which is when we approve the contract.
2. At the time of renewal of insurance contracts.
3. In the event of a change in insurance contracts and on matters that are related to those changes.
Utmost good faith principle (best intentions) is the principle that each insured is obliged to inform clearly and carefully about all the important facts relating to the insured object and not to profit from insurance. This principle also applies to insurance companies, which explains the risk of the guaranteed obligations or excluded in a clear and thorough. The obligation to provide these important facts apply:
1. Since the agreement of the insurance policy be discussed until the exit.
2. At the time of policy renewal.
3. In the event of a change in policy and on matters relating to the change.
This principle becomes very important, because:
1. In general, the insured know more fully the object to be insured than the insurer.
2. Calculation of the premium is strongly influenced by the burden of risk.
The facts must be disclosed insured:
1. Situation and condition of the object, internally (construction, existing items, etc.)
2. and external (environment);
* Experience the claim that ever existed;
* The experience of previous insurance coverage;
* Other technical facts are known.
Example:
Someone should explain the actual building construction at the time the insurance will cover. For the construction of buildings can be camouflaged with the wall paper or paint.
The facts must be disclosed insurer (through agents):
Explaining the risks that are guaranteed and exclusion;
* Tells you the amount of premiums in accordance with the regulations;
* Provide an explanation of claims procedures;
* Other information required.
Violation of the principle of Utmost good faith:
1. Statement or information is wrong, but not because of deliberate action;
2. False statements or information which is done intentionally to gain advantage;
3. Not disclose the facts or not telling the things required of others, not because of deliberate action, but may be due to ignorance or forgetfulness;
4. Hiding information or facts deliberately to gain an advantage.
Example:
* Filing insurance claims are fictional;
* Increasing the number of requests for compensation are deliberately manipulated by engineering;
* Insuring the object of insurance is prone to information that is different from reality.
Reaction to the violation
* Assumes void an insurance contract or agreement that there
a. No contract from the beginning;
b. Denied responsibility for the claim.
* Demand that the person carrying intent to harm others.
* Assuming there are no violations, and continue the insurance contract.
Indemnity
If the object is affected, causing insured losses then we will reimburse you to restore your financial position after the loss to be the same as immediately before the loss. Thus you are not entitled to damages greater than the harm you suffered.
If the object is affected, causing insured losses then the insurer will give indemnity to the insured in accordance with the principle of indemnity (indemnity). However, the insured is not entitled to damages greater than the loss suffered.
Method of payment / offset varies depending on the losses suffered by the insured. Kind, among others:
1. Cash, for example in personal accident insurance, or cost of repair of vehicles damaged by accident;
2. Repair, such as car repair shop insurance partner;
3. Reinstate, such as rebuilding damaged buildings due to the loss;
4. Replace, eg for machinery, or applies to car insurance.
Subrogation
The principle of subrogation
provided for in section 284 of Act book of Commercial Law, which reads:
"If an insurer has to pay full compensation to the insured, the insurer
will replace the position of the insured in all respects to sue third parties
who have caused losses to the insured".
In other words, if you experience a loss due to negligence or errors third party then we, after giving compensation to you, will replace your position in filing a claim to such third parties.
Principle subrogration this corresponds to a state where the insured losses resulting from third-party errors (others). This principle gives custody to the insurer by the insured if it involves a third party. In other words, if the insured losses due to negligence or fault of third parties, then XYZ, after giving indemnity to the insured, will replace the position of the insured in filing a claim to such third parties.
Mechanism of subrogation Application:
* Insured must choose one substitute sources of loss, of third parties or from insurance.
* If the insured has received indemnities from third parties, he will not get compensation from the insurer, unless the amount of reimbursement from a third party they will not completely.
* If the insured has to get reimbursement from the insurance she can not sue a third party. Because the right to prosecute has been delegated to the insurance company.
Example:
A vehicle was hit by a vehicle B. A vehicle is insured to XYZ. After XYZ pays a claim to party A, then XYZ to act on party A party may file a claim to a B.
Contribution
In other words, if you experience a loss due to negligence or errors third party then we, after giving compensation to you, will replace your position in filing a claim to such third parties.
Principle subrogration this corresponds to a state where the insured losses resulting from third-party errors (others). This principle gives custody to the insurer by the insured if it involves a third party. In other words, if the insured losses due to negligence or fault of third parties, then XYZ, after giving indemnity to the insured, will replace the position of the insured in filing a claim to such third parties.
Mechanism of subrogation Application:
* Insured must choose one substitute sources of loss, of third parties or from insurance.
* If the insured has received indemnities from third parties, he will not get compensation from the insurer, unless the amount of reimbursement from a third party they will not completely.
* If the insured has to get reimbursement from the insurance she can not sue a third party. Because the right to prosecute has been delegated to the insurance company.
Example:
A vehicle was hit by a vehicle B. A vehicle is insured to XYZ. After XYZ pays a claim to party A, then XYZ to act on party A party may file a claim to a B.
Contribution
You can only insure the same property
yanga on several insurance companies. But if there is loss of the insured
object then automatically applies the principle of contribution.
The principle contribution means that if we had paid the full compensation you deserve, then we are entitled to sue other companies are involved in some type of coverage (jointly the insurance cover your possessions) to pay the damages in the amount of each comparable with total coverage of the closing.
Proximate Cause (Proximal movement)
In insurance practice, it is sometimes very difficult to assign an event which is considered as the cause of the most dominant or most efficient cause of loss, since there are often events do not constitute a single event (single Perils), but it is a series of interrelated events that often occur in controversy and debate in setting the primary cause of the loss event. The principle of proximate cause (proximal movement) can be a solution to this problem.
Closure Application for Insurance
An insurance application form application form for insuring property or interests of the insured. This form must be completed in accordance with actual fact, given the information will be used as a basis for processing the insurance policy. Therefore, it is important for prospective insured to provide complete information to facilitate and expedite the closing process insurance.
Many of the application form which also contains the basic guarantees as well as additional guarantees that may be incurred based on the classification and type of insurance that has been established by the insurer (the insurer). Sometimes different types of policies are also
Offered by the insurer, is shown in the application form in accordance with the policies of the insurer (the insurer) itself.
In the event of accident, the insurer requires a letter of claim alleging that contains details of property or interests that suffered damage or loss. The details that have been submitted to the insurance before will facilitate the insured in making a claim alleging a letter, so that the insured's claim settlement process can be accelerated.
In addition to the insured for the actual details of the inventory list that can be used for other purposes.
If necessary the officer of the insurer (insurance company) will conduct a survey over the property to be insured based on the information written on the insured in the application form. The survey results will be used as a basis for the insurer receives a request in accordance with applicable requirements.
Closure Application for Insurance (SPPA) is the application forms to insure your property or interests. SPPA must be completed in accordance with actual fact, given the information we will use as a basis to process your insurance policy.
SPPA is an integral part of the insurance policy. This means that administration inforamsi incorrect could cause the insurance policy becomes void and we can not process claims filed on your property or interests.
Details of the Property or Interest Insured
We advise you to spend a little more time to make the details of property or interests to be insured.
SO WHY? Because:
In the event of disaster, we need a letter claim alleging that contains details of property or interests that suffered damage or loss.
The details that have been submitted to us before will help you in making a claim alleging a letter, so that your claim settlement process can be accelerated.
Besides the details that you created is actually an inventory list that can be used for other purposes.
Survey
Surveys will be conducted on the property to be insured based on the information you wrote in the SPPA. The results of our survey will be used as one basis for the insurer receives a request in accordance with applicable requirements.
Understanding Rates
Insurance rates are:
• A unit price of a certain insurance contracts, coverage for certain objects, against specific risks, and in use for a specific future anyway.
• Tool to measure the risk of a realistic (reality of risk), the range and depends on the quality, the greater the possibility of loss, the greater the charge. Object Coverage That all objects (property and people) that can be pertanggungkan rules as it will likely experience a risk of potential losses in the review of financial terms. Example:
• Residential, buildings, factories, businesses, etc.
• Cars, boats, planes, etc.
• The human soul, health, etc.
• Project construction and installation of machinery
• Transport of goods
• etc.
Similarly, a few things to know about the service insurance.
The principle contribution means that if we had paid the full compensation you deserve, then we are entitled to sue other companies are involved in some type of coverage (jointly the insurance cover your possessions) to pay the damages in the amount of each comparable with total coverage of the closing.
Proximate Cause (Proximal movement)
In insurance practice, it is sometimes very difficult to assign an event which is considered as the cause of the most dominant or most efficient cause of loss, since there are often events do not constitute a single event (single Perils), but it is a series of interrelated events that often occur in controversy and debate in setting the primary cause of the loss event. The principle of proximate cause (proximal movement) can be a solution to this problem.
Closure Application for Insurance
An insurance application form application form for insuring property or interests of the insured. This form must be completed in accordance with actual fact, given the information will be used as a basis for processing the insurance policy. Therefore, it is important for prospective insured to provide complete information to facilitate and expedite the closing process insurance.
Many of the application form which also contains the basic guarantees as well as additional guarantees that may be incurred based on the classification and type of insurance that has been established by the insurer (the insurer). Sometimes different types of policies are also
Offered by the insurer, is shown in the application form in accordance with the policies of the insurer (the insurer) itself.
In the event of accident, the insurer requires a letter of claim alleging that contains details of property or interests that suffered damage or loss. The details that have been submitted to the insurance before will facilitate the insured in making a claim alleging a letter, so that the insured's claim settlement process can be accelerated.
In addition to the insured for the actual details of the inventory list that can be used for other purposes.
If necessary the officer of the insurer (insurance company) will conduct a survey over the property to be insured based on the information written on the insured in the application form. The survey results will be used as a basis for the insurer receives a request in accordance with applicable requirements.
Closure Application for Insurance (SPPA) is the application forms to insure your property or interests. SPPA must be completed in accordance with actual fact, given the information we will use as a basis to process your insurance policy.
SPPA is an integral part of the insurance policy. This means that administration inforamsi incorrect could cause the insurance policy becomes void and we can not process claims filed on your property or interests.
Details of the Property or Interest Insured
We advise you to spend a little more time to make the details of property or interests to be insured.
SO WHY? Because:
In the event of disaster, we need a letter claim alleging that contains details of property or interests that suffered damage or loss.
The details that have been submitted to us before will help you in making a claim alleging a letter, so that your claim settlement process can be accelerated.
Besides the details that you created is actually an inventory list that can be used for other purposes.
Survey
Surveys will be conducted on the property to be insured based on the information you wrote in the SPPA. The results of our survey will be used as one basis for the insurer receives a request in accordance with applicable requirements.
Understanding Rates
Insurance rates are:
• A unit price of a certain insurance contracts, coverage for certain objects, against specific risks, and in use for a specific future anyway.
• Tool to measure the risk of a realistic (reality of risk), the range and depends on the quality, the greater the possibility of loss, the greater the charge. Object Coverage That all objects (property and people) that can be pertanggungkan rules as it will likely experience a risk of potential losses in the review of financial terms. Example:
• Residential, buildings, factories, businesses, etc.
• Cars, boats, planes, etc.
• The human soul, health, etc.
• Project construction and installation of machinery
• Transport of goods
• etc.
Similarly, a few things to know about the service insurance.
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