Location de chapiteaux sur Marseille, pour professionnels et particuliers
Insurance contracts require the insured to do certain things or to meet certain conditions, both before and after a loss, which the law sometimes classifies as suspensive and subsequent conditions. If the insured does not meet these obligations or does not meet these conditions, the insurance company may be exempted from its obligation to pay the debt because of the infringement. However, in most jurisdictions, a court only grants an exemption from an insurer`s obligation to pay a fee if the offence is essential. On the other hand, life insurance can be freely awarded because the insured person remains the same. Indeed, many people who have acquired an incurable disease have sold their life insurance to third parties to get money to treat their illness or care. Beneficiaries can be changed, as the change of beneficiary does not change the insured risk, so there are no consequences for the insurer if the policyholder changes beneficiary, but the insurer must be informed before the change has legal effect. The goal is to protect the insurance company from paying the wrong person or being forced to pay twice. Insurance contracts have an additional requirement to be in legal form. Insurance contracts are governed by state law, so insurance contracts must meet these requirements. The State may provide that only certain forms may be used for certain types of insurance or that the contract must have certain provisions. In addition, contracts must be approved by the state insurance service before they can be used to ensure that they comply with the rules. Let`s say you`re a famous rock star and your vote is secured for $50 million. Your offer is accepted by Company A.
However, insurance company A is not in a position to retain all the risk, so it passes on some of that risk – say $US 40 million – to insurance company B. If you lose your singing voice, you will receive $50 million from insurer A ($10 million + $40 million), with insurer B contributing the amount reimbursed ($40 million) to insurer A. This practice is called « reinsurance ». In general, reinsurance is much more practiced by general insurers than by life insurers. Nature insurance contracts are personal contracts between the insured and the insurer. Non-life insurance covers the insured for financial loss of damage or property loss, not the property itself.