Civil Law Consequences of the Non-Adjustment of an Insurance Product by the Distributor to the Demands and Needs of a Customer

2019 ◽  
Vol 3 (100) ◽  
pp. 18-35 ◽  
Author(s):  
Bartosz Kucharski
Keyword(s):  
Civil Law ◽  
Insurance Premium ◽  
Insurance Contract ◽  
Legal Remedy ◽  
Insurance Product ◽  
Dependent Agents ◽  
Fault Liability

According to the author, only in certain situations may the non-adjustment of insurance products to the demands and needs of the customer lead to the invalidity of insurance contract terms, or be remedied by the interpretation thereof in favour of the customer. Thus, the basic legal remedy which can be used by the customer in such case is to claim damages from the distributor. As a rule, distributors assume contractual liability based on the presumption of fault: in the case of brokers arising from brokerage contract, and in case of other distributors from obligations specified in the provisions of the Insurance Distribution Act. Insurers bear tortious non-fault liability for the activities of their dependent agents. Basically, clients may claim full damages according to the so called “difference theory”. In many cases however the damages will be restricted to the value of the overpaid insurance premium.

scholarly journals PERHITUNGAN PREMI ASURANSI JOINT LIFE DENGAN MODEL VASICEK DAN CIR

2019 ◽  
Vol 8 (3) ◽  
pp. 246
Author(s):  
I MADE WAHYU WIGUNA ◽  
KETUT JAYANEGARA ◽  
I NYOMAN WIDANA
Keyword(s):  
Stochastic Process ◽  
Interest Rates ◽  
Life Insurance ◽  
Insurance Premium ◽  
Insurance Contract ◽  
Insurance Company ◽  
Vasicek Model ◽  
Cir Model ◽  
Premium Payment ◽  
Premium Price

Premium is a sum of money that must be paid by insurance participants to insurance company, based on  insurance contract. Premium payment are affected by interest rates. The interest rates change according to stochastic process. The purpose of this work is to calculate the price of joint life insurance premiums with Vasicek and CIR models. The price of a joint life insurance premium with Vasicek and CIR models, at the age of the insured 35 and 30 years has increased until the last year of the contract. The price of a joint life insurance premium with Vasicek model is more expensive than the premium price using CIR model.

scholarly journals LEGAL STATUS OF THE POLICYHOLDER IN THE COMPULSORY STATE SOCIAL INSURANCE AGAINST AN ACCIDENT AT WORK AND AN OCCUPATIONAL DISEASE

2020 ◽  
Vol 1 (9) ◽  
pp. 43-50
Author(s):  
Oleksii Soloviov ◽  
Keyword(s):  
Occupational Disease ◽  
Social Insurance ◽  
Legal Status ◽  
Civil Law ◽  
Insurance Premium ◽  
Material Loss ◽  
Social Contribution ◽  
The Law ◽  
Definition Of ◽  
Compulsory State

The article considers the definition of the insured, which is contained in the Law of Ukraine «On collection and accounting of a single contribution to compulsory state social insurance» and based on this it is concluded that it includes only the persons and the main obligation of the insured – payment of insurance premium and does not establish additional or qualifying features that the insured must have. Given that the social security insurance mechanism was borrowed from civil law, the author examined the definition of the insurer from the standpoint of civil law and concluded that the presence of insurance interest is a prerequisite for determining a person as an insured and proposed his own definition of insurance interest – a certain property interest related to the need to suffer material loss in connection with damage to life, health and ability to work of the insured person as a result of an accident or occupational disease that occurs during the performance or in connection with the performance of certain work in the interests of the insured. The author emphasizes that the insurers in the relationship of social insurance against accidents at work and occupational diseases can be primarily employers. Based on the results of the analysis of the definition of the employer in various regulations, it was concluded that there is a certain inconsistency in science and legislation regarding this term, and therefore the legislative definition of the employer needs to be specified. This made it possible to develop proposals for making the necessary changes to certain regulations that contain this term. The concept and features of a single social contribution are researched. Peculiarities of insurance of persons performing works on the terms of civil law contracts are analyzed. Emphasis is placed on the unresolved issue of the customer - an individual who uses the work of other individuals under a civil contract, but without registering them as a business entity. It is believed that such persons should also act as payers of the single social contribution, and therefore it is necessary to amend the Law of Ukraine «On the collection and accounting of the single contribution to the obligatory state social insurance».

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 PENGARUH PENYELESAIAN KLAIM ASURANSI TERHADAP PENCAPAIAN TARGET PENJUALAN PRODUK ASURANSI AJB BUMIPUTERA 1912 CABANG BENGKULU

2017 ◽  
Vol 5 (1) ◽  
Author(s):  
Sri Handayani
Keyword(s):  
Correlation Coefficient ◽  
Insurance Premium ◽  
Insurance Claims ◽  
Insurance Product ◽  
Insured Person ◽  
Product Sales ◽  
Observation Period

Sri Handayani; Insurance claims are the demands of the insured party in connection with the contract between the insurer with the insured person that each of the parties bind themselves to guarantee the payment of compensation by penaggung if insurance premium payments have been made by the insured party, when the disaster suffered by the insured person. This study aimed to examine the effect of the settlement of insurance claims against insurance product sales target AJB BUMIPUTERA 1912 Cabang Bengkulu. The sample in this study is the settlement of insurance claims and insurance product sales target AJB BUMIPUTERA 1912 Cabang bengkulu observation period of 5 years. The method used is the correlation coefficient. These results indicate that a growing number of insurance claims are settled, the higher the achievement of sales of insurance products offered AJB BUMIPUTERA 1912 cabang Bengkulu.Key words: Insurance claims

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.

INSURANCE WAQF PHENOMENCES IN THE INSURABLE INTEREST PERSPECTIVE

Penamas ◽  
2020 ◽  
Vol 33 (2) ◽  
pp. 225
Author(s):  
Diana Mutia Habibaty ◽  
Ah Azharuddin Lathif
Keyword(s):  
Risk Mitigation ◽  
Insurance Contract ◽  
Empirical Approach ◽  
The Other ◽  
Basic Principles ◽  
Insurance Benefits ◽  
Insurable Interest ◽  
Insurance Product

Waqf insurance is a new breakthrough in the field of waqf and sharia insurance. This product collaborates between waqf and insurance products. The insurance waqf product is considered contrary to one of the insurance principles, namely the principle of insurable interest (Insurable Interest Principle). This principle states that the insured party (the insured / insurance participant) must have an interest in the object of insurance (life / object). This principle was born because everyone insures himself / his property because the person / property has the risk of being damaged / lost, whereas if someone chooses to have waqf or not, it does not actually pose any risk. This study uses an empirical approach in which an analysis of the Islamic waqf insurance contract is carried out and compares it with the basic principles of insurance. In addition, interviews were conducted with experts to deepen the study under study. The results of the study state that waqf insurance products in Sharia insurance can be used as part of insurance products by following the provisions of the DSN-MUI fatwa NO.106 / DSN-MUI / X / 2016 concerning Waqf Insurance Benefits and Investment Benefits in Sharia Insurance. By referring to this fatwa, the waqf insurance product has fulfilled the principle of insurable interest by stating that the maximum waqf that can be made on the insurance waqf product is 45%, while the other 55% is returned to the insurance participant or the beneficiary (if the insurance participant dies before the insurance contract is completed. ) as a form of risk mitigation and implementing the principle of insurable interest.

MEDICAL INCIDENT INSURANCE

2020 ◽  
Vol 4 (XX) ◽  
pp. 213-224
Author(s):  
Agnieszka Huras-Darkowska
Keyword(s):  
Insurance Premium ◽  
Insurance Contract ◽  
Third Party ◽  
Liability Insurance ◽  
Accident Insurance ◽  
Huge Number ◽  
Compensation And Redress ◽  
Legal Nature ◽  
Additional Burden

Regulations in force since 2012. defining the rules and procedure for determining compensation and redress in the case of medical events raised many doubts about the legal nature of the insurance contract for these events (compulsory or voluntary insurance, accident insurance or third party liability insurance) and the liability of medical entities. In practice, the doubts concerned the additional burden on hospitals to pay the insurance premium, and in the absence of insurance or exhaustion of the sum insured – the need to satisfy the claims of the applicant. A huge number of practical and legal doubts caused the amendment of the applicable provisions.

Common Law, Civil Law, and the Single European Market for Insurances

2006 ◽  
Vol 55 (4) ◽  
pp. 879-910 ◽  
Author(s):  
Giesela Rühl
Keyword(s):  
Common Law ◽  
Civil Law ◽  
Contract Law ◽  
Insurance Contract ◽  
Insurance Companies ◽  
Insurance Supervision ◽  
Insurance Contracts ◽  
Cross Border ◽  
Single European Market ◽  
Consumer Insurance

AbstractFifty years after the foundation of the European Communities, the single market for insurances has not yet become a reality. Despite the harmonization of insurance supervision law, insurance companies still essentially refrain from cross-border activity when it comes to small commercial and consumer risks. Since this finding is usually attributed to the lack of common rules on insurance contracts, this article sets out to lay the foundation for the harmonization of the corresponding national laws. By providing a comparative analysis of two of the most pervasive issues in consumer insurance contract law, the article proves that common law and civil law are not as far apart as commonly assumed. It thus refutes the widely held belief that the insurance contract laws of common law and civil law countries are too different to be harmonized.

Genome Editing of Human Embryo: Allow or Prohibit?

2020 ◽  
Vol 11 (2) ◽  
pp. 483
Author(s):  
Аleksander Anatolievich MOKHOV ◽  
Аleksander Nikolaevich LEVUSHKIN ◽  
Aleksandr Nikolaevich YAVORSKY
Keyword(s):  
Law Enforcement ◽  
Genome Editing ◽  
Human Embryo ◽  
Critical Analysis ◽  
Civil Law ◽  
Legal Remedy ◽  
Editing Activity ◽  
Statutory Regulation ◽  
Enforcement Activity

Nowadays, the direction of both law-enforcement activity and dynamically developing statutory regulation is to involve genes and genetic constructions into civil-law transactions. However, the evaluation of such processes is complex within the scope of doctrine and law-enforcement. The article aims to uncover the issues of statutory regulation within genome editing activity of human embryo in Russia. The critical analysis underlines the proposals to prohibit the genome editing of human embryo due to its low efficacy, complexity of it actual maintenance via the existing legal remedy and mechanisms. There is a presentation of legal course developments within the genome editing of human embryo together with existing risks consideration for such kind of activity.

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