The insurance industry differs in some respects from other trade. Therefore, it is very useful to know the different figures that can appear on insurance contracts to understand the operation.
We begin by explaining what a safe, according to Law 50/1980 of the Insurance Contract in art. 1 defines it as: " The contract by which the insurer undertakes, by charging a premium and if the event occurs whose risk is hedged, to indemnify, within agreed limits, damage produced to meet or insured capital, income or other agreed services . "
Une view this definition once we will see the parties involved in the contract:
The policy
It is the primary document that include an insurance contract. The document had the rights and obligations of the parties. Until the letter is not signed and accepted by all rights do not begin and written obligations.
The insurer
Is the company, insurer, which assumes the risk coverage of the insured. A public record of the General Insurance where all insurance companies operating in Spain.This register provides information about each of them.
The policyholder
It is the person who hires a safe and firm policy. You can hire one or self. The policyholder is obliged to assume the terms of the contract, especially on the payment of the premium.
The insured
It is the person who holds the object or subject whose risk falls on the insurance. In other words, it is the person who bears the insurance coverage.
The beneficiary
Who is entitled to the benefit of the insurer. It is the person who bears the benefits of the agreed policy, by the express will of the policyholder.
Mediators
Finally, although it is not mandatory in a contract of insurance as detailed above, a mediator can intervene, either an agent or a broker.
The mediator is a consultant who advises the client about the types of insurance and coverage that suits you depending on your personal situation. It analyzes the risks to which it is exposed, the economic damages that may arise and proposes a deal.
