Is a social system that aims to build up a reserve to address the loss of others
Confirmed by the experience with capital by shifting the burden of the risk of several
Persons to one person or group of persons, any system that is designed
To reduce or minimize the phenomenon of uncertainty Uncertainty of losses
Finance by shifting the burden of risk.
What are the insurance importance of the activity?
Summed up the importance of insurance activity as follows:
1 - to the principle of cooperation between a group of individuals exposed to the same risk
And secure their future participation in shouldering the risks they are exposed.
2 - helps to maintain insurance on the wealth of facilities for compensation for
Outputs of the dangers that might be exposed to this wealth, such as fire -
Theft .......
3 - to conserve energy productivity
4 - Creating and expanding credit through loans to ensure documents
Other safeguards which contributes to the economic growth of the projects.
Q 3 What are the characteristics of insurance activity?
1 - build on the principle of cooperation.
2 - activity is characterized by the existence of the Association of the insurance contract between the insured
And repository
3 - Activity-based insurance to collect savings from the custodians in
Different branches of insurance in the form of premiums.
4 - the insurance activity is characterized by multiple branches of activity.
5 - characterized by contracts (and documents) insurance extending for several financial periods
And therefore difficult to determine the outcome of the activity.
Q 4 What are the types of insurance?
There are several divisions of Insurance
First: In terms of the fundamental division is divided into: -
- Private insurance
- Social insurance
Second: In terms of the practical division of insurance is divided into: -
- Insurance of persons
- General insurance.
Q 5 What is meant by private insurance?
Insurance, which is contracted by the person to benefit him personally in securing
The same risk of a particular.
Q 6 What are the characteristics private insurance?
Private insurance is characterized by the following features.
1 - It's an optional insurance up to the user's desire the same.
2 - pay the insured the premium in full.
3 - is not subject to this type of insurance to government supervision.
Q 7 What is social insurance?
Intended to provide individuals (who were dependent on the work)
Against the risks that may prevent them from performing this work, such as disease -
Disability - or old age, death and unemployment.
Q 8 What are the characteristics of social insurance?
Social insurance is characterized by the following: -
1 - The fundamental rationale for this type of insurance is solidarity
Social Council.
2 - It is a compulsory insurance imposed by the state, it is not optional
3 - part of the insured pays a premium by the State or the owner
Work Part II.
Q 9 What are the types of insurance people?
Insurance of persons is divided to:
- Life Insurance Life Insurance
- Insurance against personal accidents.
Q 10 What are the types of re-insurance?
Can be divided into reinsurance operations into three main types.
A - compulsory re-insurance
B - Re-Insurance is optional.
C - re-secure the Convention.
Q 11 What are the elements of income generated by insurance companies?
Consists of income of the insurance company
- Premium
- Reinsurance commission of the
- Net income from investments
- Other income.
Q 12 What is the insurance premiums?
Premium is the main source of income is the amount due on the
Insured under the insurance contract between the parties and is committed to repay it
Insured in exchange for access by the beneficiaries or the amount of insurance when
An insured risk.
Q 13 What is the most popular types of hazards, and any type of insurance covered?
* Risk of accidents and injuries covered by personal accident insurance
* Risks of old age and old age and are covered by pension insurance
* Risks of illness and are covered by health insurance
* Risk of death and covered by life insurance
* Fire hazard and covered by fire insurance
* Risks of aircraft accidents and aircraft covered by insurance
* Risks of theft and covered by insurance against theft and robbery
* The dangers of drowning and covered by marine insurance
* Natural disasters and covered by insurance against earthquakes and hurricanes
* Risks of loss and lost profits and covered by insurance profit
* Threats to stop working and are covered by insurance for a work stoppage
* Risks of civil liability and covered by liability insurance
Especially business owners, cars, ships and other
Q 14 What are the types of marine insurance policies?
Generally be of two types (open or closed)
(1), flight insurance policies against certain specific risks commencement of the journey
Until they reach the port of destination safely and securely.
(2) insurance policies of limited duration and the term he must have a minimum
One year, the most common.
(3) an insurance of goods against fire, assault, dumping at sea
Stop and authoritarian, disasters and the damage and there are some exceptions
For some species that are not covered by these documents and most food.
(4) insurance policies of the vessel or her body and its organs and craft and furnishing of the
The dangers of piracy and armed robbery, warships and assault and arson
Authoritarian and suspensions and breach of the crew and public bads such as accidents
And clashes, and others.
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