Insurance cover is a term often used in the literature and regulations on insurance and insurance law, indicating the potential readiness of the insurer , which is provided by the legal obligation of the latter, to provide the policyholder , beneficiary or insured person with an insurance event in the form of insurance and other insurance Payments [1] [2] [3] .
The category of insurance coverage was used in defining insurance as “relations to protect the property interests of individuals and legal entities in the event of certain events (insured events)” [4] .
Thus, insurance protection expresses the most important function of insurance, which is to protect against risks . Insurance cover is an expression of the purpose and essence of insurance.
The insurance cover comes into force and is valid within the framework of specific insurance relations . The essence of these relations is that the insurer undertakes an obligation to pay the insured (insured person, beneficiary) insurance and other payments provided for by the contract or insurance legislation upon the occurrence of an insured event [5] .
Insurance cover is presented in two ways:
- in monetary compensation for damage , insurance payment, which may or may not be;
- availability of readiness, supported by a legally significant obligation of the insurer to make such payment upon occurrence of an insured event.
Insurance coverage is inextricably linked with the formation of an insurance fund .
Insurance coverage gives the insured person a sense of security and confidence in their future, that is, insurance protection has not only material, but also legal and psychological aspects. Moreover, if the insured event does not occur, insurance coverage will be presented only by its legal and psychological aspects [1] .
Links
- Logvinova, I.L. Insurance cover and methods for its creation . “Finance and credit” (2010-21-06). Date of treatment January 19, 2014.
Notes
- ↑ 1 2 Khudyakov A. Insurance cover as an expression of the essence and purpose of insurance // Insurance Theory . - M .: Statute, 2010 .-- 655 p. - ISBN 978-5-8354-0619-7 . (inaccessible link)
- ↑ Gomella V.B. Fundamentals of insurance. - M .: Finance and statistics, 2003. - ISBN 5-7958-0038-4 .
- ↑ Shakhov V.V. Insurance protection // Insurance: Textbook for universities . - Moscow: UNITY, 1997 .-- S. 262. - 311 p. - ISBN 5-85171-029-2 .
- ↑ Federal law "On the organization of insurance in the Russian Federation
- ↑ Kazantsev S.K. The basics of insurance. - Yekaterinburg: ed. IPK USTU, 1998. - ISBN 5-8096-0006-9 .