What information is contained in the insurance agreement of an insurance policy? Corporate governance: a system that defines the distribution of tasks, rights and responsibilities between different stakeholders within a company, such as. B.dem board of directors, the various committees on the board of directors, operational managers and shareholders. Corporate governance lists rules, policies and decision-making procedures that affect business. This term has received particular attention in recent years because massive lawsuits have been filed against the directors and executives of a number of high-level companies that have filed for bankruptcy. Many economic commentators and observers in the insurance industry believe that the collapse of corporate governance, particularly in the area of financial and accounting control, has been largely responsible for these failures. Reinsurance contract: an agreement by which one insurance company transfers the risk to another (buys reinsurance). Unlike an insurance policy, both parties sign a reinsurance contract. Insurance contract: the part of the insurance policy in which the insurer promises to make payments to the insured or to the insured. The insurance agreement is usually covered by a directive. Often, agreement assurance defines a broad scope, which is then limited by exclusions and definitions. Certificate holder: the company that receives an insurance certificate as proof of insurance managed by another company. In standard certificate forms, the certificate holder is usually listed in the area provided for this purpose. Non-life insurance contains declarations, conditions, definitions, exclusions and an insurance agreement.
Certain terms of the policy, such as Z.B. Under-rogation, cancellation, other insurance and attributions, do not fall into these categories. The part of an insurance contract in which these provisions can be found is capital: in the insurance obligation, a universal clause is one of three different meanings: the amount initially required to create a prisoner or the amount initially paid; the sum of this capital paid in addition to other forms of capital, such as letters of credit; either the sum of these two plus a cumulative surplus. The difference between capital in a related form and other forms of insurance capital is that homeowners generally view it as venture capital, ready to be used by negative business results. That is why, in financial discussions, we rarely hear about “capital depreciation.” Instead, we hear about a “capital reduction.” Cybersecurity and data protection insurance: a kind of insurance for consumers of services or technology products. In particular, policies are intended to cover a large number of losses of liability and assets that can occur when a company performs various electronic activities. B such as selling on the Internet or collecting data within its internal electronic network. In particular, but not exclusively, cybersecurity and data protection policies include a company`s liability for breaches of privacy, in which the personal data of the company`s customers, such as social security or credit card numbers, is discovered or stolen by a hacker or other criminal who has accessed the company`s electronic network. The guidelines cover a wide range of expenses related to data breaches, including: notification fees, credit monitoring, defence costs of public regulators, fines and penalties and losses resulting from identity theft. In addition, the guidelines include liability arising from the content of the site`s media, as well as real estate commitments from: a) interruption of exploitation, (b) loss/destruction of data, (c) computer fraud, (d) loss of money transfer and (e) cyber blackmail.