CASCO Insurance CASCO (from the Italian word casco - helmet) is the insurance of a vehicle against risks that may arise during the operation of the vehicle. "Full CASCO" means insurance against all possible risks, while "partial CASCO" covers only some risks. CASCO insurance means only insurance of the vehicle itself and does not include insurance of liability to third parties, insurance of the driver and passengers, property (cargo insurance) transported in the vehicle. Objects of insurance The subject of the motor hull insurance are means of land transport - trucks, cars, special cars, motorcycles, trailers and some other vehicles owned by legal entities or natural persons, including additional equipment and facilities, which are in the possession of the Insured on the basis of ownership, use or disposal. The insurance is provided at rates that depend on the type of vehicle, its age, value, type of use and storage conditions. This type of insurance also tak...
Showing posts from April, 2023
Insurance of civil liability of a bankruptcy trustee
Insurance of civil liability of the liquidator Insurance of civil liability of a bankruptcy trustee (receiver, manager, liquidator) for damage that may be caused in connection with the performance of his duties is a type of insurance, the subject of which are property interests, not in conflict with the law, related to compensation of damage caused by the insured or another person, whose civil liability to third parties is insured, as a result of the professional activity of the bankruptcy trustee (receiver, manager, liquidator). This type of insurance provides for the insurer's obligation to pay indemnification to a third party for a fee (premium, insurance payment, insurance premium) established by the insurance contract in accordance with the terms of the insurance contract for damage caused by unintentional actions or errors in the exercise of the powers of the insolvency manager (receiver, liquidator, liquidator). Agricultural insurance Agricultural insurance (Insurance...
Agricultural insurance Agricultural insurance (Insurance of agricultural products) is a type of insurance where the subject of the insurance contract are property rights, not contradicting the law, related to compensation of losses incurred by the Insured or another person designated by the Insured in the insurance contract while growing, harvesting agricultural crops and perennial plantations, growing (breeding), fattening (keeping) farm animals, poultry, rabbits, bee colonies and fur-bearing animals, growing, breeding, catching (harvesting) fish and other aquatic living resources, and other livestock products. This type of insurance provides for the Insurer's obligation to pay indemnity in accordance with the terms and conditions of the Insurance Contract by reimbursing the Insured or another person designated by the Insured in the Insurance Contract (the Beneficiary) for the loss incurred by the Insured in connection with the damage - death (loss) of crops (plantations), dea...
Medical expenses insurance Medical expenses insurance is a type of insurance under which the subject of the insurance contract are property interests, not in conflict with the law, related to the life, health of the Insured or a third party (the Insured) designated by the Insured in the insurance contract with his consent, as well as medical and additional expenses directly related to the occurrence of the insured event during the Insured's or the Insured's trip(s). This type of insurance provides for the Insurer's obligation to pay indemnification in the amount of the insured sum or a part thereof in accordance with the terms and conditions of the Insurance Contract by reimbursing documented expenses incurred by the Insured or the insured person for medical and other assistance in connection with the insured event during the Insured's or the insured person's trip (journey) for the fee (insurance premium, insurance payment, insurance premium) established in the ...
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Types of compulsory insurance In Ukraine, the following types of compulsory insurance are carried out: health insurance; personal insurance of medical and pharmaceutical employees (except for those working in institutions and organizations financed from the State Budget of Ukraine) in case of infection with the human immunodeficiency virus during the performance of their official duties; personal insurance of departmental employees (except for those working in institutions and organizations financed from the State Budget of Ukraine) and rural fire brigades and members of voluntary fire brigades (teams); insurance of sportsmen of higher categories; life and health insurance of specialists in veterinary medicine; personal insurance against accidents in transport; aviation insurance of civil aviation; liability insurance of the maritime carrier and the performer of work related to the servicing of maritime transport, in respect of compensation for losses incurr...
Accident perpetrator without insurance - what should the victim do?
Accident without insurance - what to do with the victim Sad statistic: About half of the car owners do not consider it necessary to take out an insurance policy. This is despite the fact that the law makes it illegal to drive a vehicle without MTPL insurance. Violating the law seems to be advantageous for drivers: the fine is often less than the cost of insurance. But what should the victim do if the person who caused the accident has no insurance and refuses to pay? Who will pay for the damage? How an insurance policy works If the owner of a car with a formalized MTPL becomes the culprit of the accident, the policy covers payments to the injured party. If the person who caused the accident has no insurance, there will be no one to compensate for the damage. What can you do? However, according to the law, the perpetrator of the accident is still obliged to take responsibility. It is necessary to pay for the repair of the victim's car, a fine for lack of insurance, to compensa...
Marine Insurance (Maritime, inland and other water transportation) Insurance of water transport (inland water transport and other types of water transport) is a type of insurance where the subject of the insurance contract are property interests, not contrary to the law, related to ownership, use and disposal of water transport facilities, their machinery and equipment. This type of insurance provides for the Insurer's obligation to pay indemnity in accordance with the terms and conditions of the insurance contract (insurance premium, insurance payment, insurance premium) by compensating the Policyholder or another person designated by the Policyholder in the insurance contract (beneficiary) for the loss incurred as a result of damage, destruction or loss of the insured water transport vehicle and, if provided for in the insurance contract and the insurance terms and conditions, the following The terms and conditions of voluntary water transport insurance (marine, inland water...
Insurance forms. What are these and what are they?
Insurance forms In insurance, two forms of realization of insurance relations are known: compulsory and voluntary. The criterion for such a division is the will of the parties. The will of the state through a special law stipulates the obligatory form of insurance, and the will of the policyholders through an application for insurance – voluntary. Consider these two forms in more detail. The initiator of compulsory insurance is the state. The state establishes a mandatory form of insurance, as a rule, in cases where: insurance protection of certain subjects is connected with the interests of not only individual policyholders, but also society as a whole; a certain group of risks is not accepted by insurers for insurance within its voluntary form due to the unprofitability of their insurance; the cost of voluntary insurance is too high for the policyholder; the policyholder underestimates the degree of danger and possible consequences of the insured event, and the publi...
History of insurance: Ancient world
History of insurance. Ancient world. Initially people used to sell goods in their own villages and gathering society. However, with the passage of time, they turned to nearby villages to sell. Furthermore, in the thirteenth and early fourteenth centuries, the European traders used to travel to sell their goods across the globe and to hedge the risk of theft or fraud by the Capitan or crew also known as Risicum Gentium. However, they realized that selling this way, involves not only the risk of loss (i.e. damaged, theft or life of trader as well) but also they cannot cover the wider market. Therefore, the trend of hiring commissioned base agents across different markets emerged. The traders sent (export) their goods to the agents who on the behalf of traders sold them. Sending goods to the agents by road or sea involves different risks i.e. sea storms, pirate attack; goods may be damaged due to poor handling while loading and unloading, etc. Traders exploited different measures to he...