OSIGURANjE ŽIVOTA U KORIST TREĆIH LICA

2021 ◽  
pp. 535-551
Author(s):  
Zoran Miladinović ◽  
Keyword(s):  
Life Insurance ◽  
Legal Status ◽  
Insurance Contract ◽  
Third Party ◽  
Insurance Companies ◽  
Insurance Law ◽  
Legal Provisions ◽  
Insured Person ◽  
Insured Event

Insurance of life in favor of third parties is more important than the insurance of life in case of death. Moreover, in some rights this type of insurance can be contracted only in the event of the death of the insured person. There are no such restrictions in our insurance law, which means that the same can be agreed in case the isured person reaches a certain age. With this type of insurance, the insured event can be realized on the person of the insurance policyholders or on some other person. The insured person can therefore be the insurance contractor himself and it can also be another person. Considering that in this type of insurance, upon the occurrence of the insured event, the payment of the insured amount is always made to a certain third party beneficiary and that the insurance contract mentions several persons with different legal status, the insurance contract must clearly define the issues such as clear determination of the beneficiary insurance, what happens if the insurance beneficiary dies before the insured person, or the contractor assures, whether it is necessary for the insurance beneficiary to give his consent to be paid compensation, whether and until when the insurance policyholder can revoke the benefit he has contracted for a third party-beneficiary of the insured, etc. All these issues are mainly regulated by legal provisions, but of particular importance are General Conditions of life insurance of life insurance companies, as the above issues are clearly defined on the basis of experiences that have proven to be open in practice.

SUBROGATION IN INSURANCE CONTRACT

2018 ◽  
Vol 28 (6) ◽  
pp. 1985-1991
Author(s):  
Tatjana Dimov
Keyword(s):  
Insurance Contract ◽  
Insurance Companies ◽  
Property Insurance ◽  
Insured Person ◽  
Legal Position ◽  
Insured Loss ◽  
Injured Party ◽  
The Right ◽  
Insurance Agreement ◽  
Responsible Person

Subrogation is a legal right characteristically reserved by property insurers. Subrogation occurs in property insurance and in some particular cases of liability insurance. The doctrine of subrogation operates to ensure protection of certain specific principles relevant to the property insurance including the principle of indemnification whereby the compensation received is no more and no less than a full indemnity for the insured loss or damage suffered by the insured due to loss occurrence, the principle of non-cumulation in terms of claims under the same insurance contract and the principle which excludes claiming indemnity from the person who is legally responsible for causing the loss, because otherwise the insurance contract may be an unjustified source of profit for the insured as the insured would get double recovery or paid out twice for the same claim.With the payment of the reimbursement from an insurance agreement on the insurer, all rights that the insured has towards the persons responsible for the damage up to the amount of the paid compensation are transferred. With the subrogation, the insurer takes up the legal position of the insured person and exercises his right to subrogation from the rights of the insured (derivative acquisition of the right), so that the insurer exceeds the claims in scope and amount as the insured had towards the perpetrator.Subrogation is the right of the insurer, it is not his obligation. The insurer is not obliged to use this right to transfer the rights to the responsible person.The notion of subrogation is often associated with the concept of insurance regression. But there is a difference between these two terms: recourse is the right of the insurer to claim the amount of compensation that he has paid to the insured (injured parties) from the harmful person, while subrogation is the transfer of the right (the claim for damages to the responsible person) from the insured to the insurer up to the amount of the compensation paid on the basis of an insurance contract. The right to recourse is a consequence of the existence of subrogation, i.e. transfer of the rights of the insured person to the responsible person, and which is reached by the law itself.Тhe subrogation doctrine also operates to ensure that the defendant or the person who is legally responsible for the loss shall not be absolved of liability under the civil law. Namely, the perpetrator should bear the consequences of his liability for the caused damage, and therefore the legislator of the insurer (as one of the contractual parties in insurance contract) has recognized the right what he has paid the injured party (as the contractual party in the insurance contract called the insured) to calm from the perpetrator.Furthermore, subrogation doctrine operates to ensure profit for the insurance companies whereby the reimbursement funds the claims or sum insured are covered from additionally grow; therefore, this doctrine is of great importance to the insurers.

scholarly journals The Competitiveness Assessment of the Life Insurance Companies in Ukraine

2020 ◽  
pp. 47-53
Author(s):  
N. Prykaziuk ◽  
A. Tkachenkо
Keyword(s):  
Development Strategy ◽  
Life Insurance ◽  
Customer Orientation ◽  
Insurance Companies ◽  
Relevant Market ◽  
Methodical Approach ◽  
Leading Position ◽  
Regulation Model ◽  
Further Development

The paper suggests a methodical approach to assessing the life insurance companies’ competitiveness, which is based on a combination of ranking and radar methods. The algorithm for such an assessment is developed, which covers seven progressive stages. The respective calculations revealed the most competitive life insurance companies currently existing in Ukraine. The performed analysis proved the existence of system-forming life insurance companies in Ukraine, as well as groups of institutions that, under certain conditions, can compete significantly or even take a leading position in the market. It is proved that the establishment of competitive positions of such institutions in the relevant market is not only economic but also social in nature, because it allows potential policyholders quickly determining the integrated state of development of a particular insurer. It is substantiated that such calculations are necessary for insurers, as well as for the relevant state authorities, concerning the determination of further development prospects for the cash-value life insurance. Such an analysis is also justified under the changing regulation model of the life insurance companies, as one of the key tasks of the NBU is to strengthen the requirements for their activities, as a result, only the most developed institutions will remain on the market. It is proved that maintaining its place in the market by existing insurers-leaders and, at the same time, gaining new additional prospects for strengthening their market positions by other life insurance companies, requires using a flexible development strategy, which will be based on customer orientation. The ways for improvement of traditional development strategies of life insurance companies are outlined, which allows strengthening their competitive positions in the market under the emerging crisis phenomena in the economic and financial fields.

scholarly journals Suggestions to modify Vietnam’s legal provisions on the insurable interest in life insurance

2019 ◽  
Vol 2 (3) ◽  
pp. 38-49
Author(s):  
Bach Thi Nha Nam
Keyword(s):  
Life Insurance ◽  
Insurance Contract ◽  
Business Law ◽  
Insurable Interest ◽  
Legal Provisions ◽  
Contract Performance ◽  
Insurance Business ◽  
Core Principle

The insurable interest in life insurance is a core principle for the parties to enter into an insurance contract. In case the policyholder does not have insurable interest to the insured, the life insurance contract will become invalid or the life insurance contract will terminate when the policyholder no longer has insurable interest in accordance with Vietnam Insurance Business Law. The practice of life insurance contract performance has raised many issues related to the insurable interest that Vietnam Insurance Business Law has not mentioned or are still lacking. Therefore, the legal provisions on insurable interest are covered with many shortcomings, and inconsistent with the practice of insurance business. On the basis of analysis of caselaw and insurance statutes in US jurisdiction, the author proposes to modify the legal provisions on the insurable interest stipulated in the Vietnam Insurance Business Law..

Note on Determination of Premium Rates for Motor Vehicles (Third Party Risks) Insurance in New Zealand

1972 ◽  
Vol 98 (2) ◽  
pp. 149-156
Author(s):  
J. E. Eriksen ◽  
E. J. Jones
Keyword(s):  
New Zealand ◽  
Life Insurance ◽  
Motor Vehicle ◽  
Third Party ◽  
Motor Vehicles ◽  
Motor Insurance ◽  
Premium Rates ◽  
Insurance Rates ◽  
Basic Ideas

The authors have advised on the level of motor vehicle (third party risks) insurance rates of premium in the circumstances under which that business is written in New Zealand and this paper records the approach taken. It has been prepared in the hope that, as no difficult mathematics are involved, the basic ideas may appeal both to actuaries and to persons other than actuaries who are interested in the transaction of non-life insurance. They are relevant not merely to third party motor insurance but also to non-life insurance generally in a situation where insurance is compulsory and the rates of premium are centrally controlled. In those circumstances more sophisticated techniques of deriving premium rates are less necessary.

scholarly journals An Application of Credibility Theory to Solvency Margins: Some Comments on a Paper by G. W. De Wit and W. M. Kastelijn

1982 ◽  
Vol 13 (1) ◽  
pp. 37-46 ◽  
Author(s):  
Henrik Ramlau-Hansen
Keyword(s):  
Life Insurance ◽  
Alternative Methods ◽  
Credibility Theory ◽  
Insurance Companies ◽  
Numerical Example

AbstractSome comments are given on a recent paper by de Wit and Kastelijn (1980) and alternative methods for analysing loss ratios are proposed in connection with the determination of the necessary solvency margins of non-life insurance companies. The methods are illustrated by a numerical example.

scholarly journals Obligations of beneficiary and arising rights in the insurance contract – A Comparative, analytical study –: الأساس القانوني لمسؤولية المؤمن له الناشئة عن عقد التأمين – دراسة مقارنة –

2021 ◽  
Vol 5 (1) ◽  
Author(s):  
Muneer Ali Hulaiel
Keyword(s):  
Traffic Accidents ◽  
Civil Law ◽  
Insurance Contract ◽  
Insurance Law ◽  
Vehicle Accidents ◽  
Vehicle Owner ◽  
Legal Provisions ◽  
General Rules ◽  
Financial Consequences ◽  
Car Accident

In this study, the obligations of the beneficiary and his rights to the insurance contract were dealt with as an impact on the insurance contract, which is of interest at present, which is not comparable to any different types and forms of insurance, indicating that the legislation in question has intervened and imposed some types of legal provisions, as in the case of insurance from liability arising from traffic accidents. This is due to the mandatory insurmountably of each vehicle owner, given the risks caused by the damage caused by vehicle accidents and the financial consequences of those responsible for these damages and the aim of this study to address the issue by analysis and comparison between Jordanian civil law, UAE civil transaction law and Egyptian civil law. We referred to some special legislation on compulsory car accident liability insurance. One of the most notable findings is that comparative legislation did not include regulatory provisions for the insurance contract to the extent commensurate with its nature and importance. It is recommended is that there must be a modern, ideal insurance law instead of relying on general rules.

scholarly journals Legal Consequences of Late Payments in Payment of the Insurance Premium // Pravne posljedice docnje u plaćanju premije osiguranja

2018 ◽  
Vol 8 (8) ◽  
pp. 102
Author(s):  
Slobodan Stanišić
Keyword(s):  
Life Insurance ◽  
Insurance Coverage ◽  
Insurance Premium ◽  
Insurance Contract ◽  
Insured Person ◽  
Legal Consequences

The paper discusses the legal consequences that may occur when the insured person late or do not fulfill the obligation to pay premiums. Failure to pay premiums on time and in the manner as provided by the insurance contract or by law, affect the beginning of life insurance coverage, and thus the existence of insurers liability to indemnify or pay the insured sum at the occurrence of an event that is insured case.

scholarly journals PEMBAHARUAN HUKUM PERJANJIAN PERKAWINAN DAN AKIBAT HUKUMNYA TERHADAP HARTA DALAM PERKAWINAN

2018 ◽  
Vol 33 (3) ◽  
pp. 365
Author(s):  
Rilda Murniati
Keyword(s):  
Legal Status ◽  
Third Party ◽  
Constitutional Court ◽  
Marriage Law ◽  
Personal Property ◽  
Legal Provisions ◽  
Test Suit ◽  
Ownership Rights ◽  
Legal Consequences ◽  
Husband And Wife

Every marriage will give birth the union of assets that can be obtained by husband and wife during the marriage if not excluded by the marriage agreement. However, the Marriage Law explicitly and clearly stipulates that the marriage agreement must be made before the marriage takes place or at the time the marriage takes place. The existence of these legal provisions, in fact, is not entirely known by every prospective husband and wife and raises new problems related to land law that limits ownership rights to land and buildings for Indonesian citizens who marry other citizens without marriage agreements. This is the reason for the birth of a material test suit against the provisions of the Marriage Law contained in the Decision of the Constitutional Court No. 69 / PUU-XII / 2015. This decision forms the basis and legal basis for new arrangements as a source of legal renewal on the procedures for marriage agreements and their legal consequences for joint assets acquired in marriage. The born of legal renewal is the marriage agreement that can be made any time during the marriage in the form of an authentic deed at the notary and can be retroactive from the date the marriage takes place as long as the husband and wife agree and bind as a law to the parties. For this reason, the legal consequences of the legal status of joint assets acquired during marriage are the personal property of each husband and wife and their contents are binding on third parties as long as the third party has an interest.

NATURE OF LIFE INSURANCE AND THE BENEFITS PAID IN LATVIA

2019 ◽  
pp. 82
Author(s):  
Violeta Smule
Keyword(s):  
Life Insurance ◽  
Family Members ◽  
Insurance Market ◽  
Insurance Companies ◽  
Financial Problems ◽  
Insurance Benefits ◽  
The Family ◽  
The Future ◽  
Insured Person

Life insurance persistently evolves in Latvia. Competition in the insurance market is tough; consequently, the insurance companies apply diverse marketing techniques to retain their current clients and attract new ones. The research aim is to examine the nature of life insurance and the amounts of insurance benefits paid in Latvia. Life insurance is a kind of insurance that covers the death of the insured person. Life insurance is necessary for persons providing family incomes, as it protects the family members against financial problems in case of loss of the family provider. In Latvia, life insurance with savings is the most widespread, as this kind of life insurance combines two elements – the insurance of one’s own life and savings for the future.

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