Glossary
- civil liability insurance Subir
- Civil liability insurance obliges the insurer, within the limits established by Law and in the contract, to cover the risk of the arising of the obligation of the insured to compensate a third party for damages caused by an unforeseen event, provided for in the contract, and of whose consequences the insured is civilly liable, according to law.
- claim incidentSubir
- A claim incident is the occurrence of an incident contemplated in the policy and which gives rise to the fulfilment of the obligations assumed by the insurer under the contract. The occurrence of the claim incident is what gives rise to the indemnity, the repair of the loss or damage suffered or the payment of the agreed sum insured.
- clauses Subir
- Special conditions or clauses make up that document which includes any modifications, extensions, or cancellations of the general conditions of the policy, as a result of any specific agreements reached between the parties.
- compensation principleSubir
- The insurance against damages is taken out in order to compensate for possible losses the insured may suffer as a result of the occurrence of a given risk. The purpose of the insurance is, in this sense, strictly that of compensation or repair of damages or losses (compensation principle), excluding the possibility of it becoming a source of profit for the insured.
- copy of policySubir
- In the event of loss or misplacement of the policy, the insurer, at the request of the policyholder or the insured or beneficiary, is obliged to issue a copy or duplicate of the policy, which will be identical in effect to the original. The request must be made in writing.
- credit insuranceSubir
- With credit insurance, the insurer undertakes, within the limits established by Law and in the contract, to indemnify the insured for losses ultimately suffered as a consequence of the permanent Insolvency of their debtors.
