Before going into the different types of insurance of interest for the self-employed, professionals and SMES, Yong Wai Meng is showing you a brief summary of the legal regulation of the contract of insurance in Spain.
The INSURANCE CONTRACT AND ITS LEGAL REGULATION
The insurance contract is the one for which the insurer undertakes, by charging a premium and for the case that the event occurs for which the risk is covered, to indemnify, within the limits agreed, the damage caused to the insured or to satisfy a capital, an income or other benefits agreed.
This contract can be held in the classroom or at a distance (internet, telephone, etc.). In the latter case requires that there is a prior information before its formalization and recognizes a right of withdrawal of the consumer prior to its signature. In any case it is important to take into account certain advice before recruitment.
Elements of insurance
The main elements of the contract of insurance are the following:
- The insurer is the entity that has, among other obligations, to compensate the loss and perform the agreed benefits when it occurs the fact insured.
- The policyholder, the insured and the beneficiary. The policyholder is the person who contracted with the insurer, by signing the policy and agreed to the payment of the premium. The Insured is the person with a direct interest in the insurance and on whose life or property lies the contract. The beneficiary is the holder of the right to compensation.
- The policy, including the general and particular conditions, is the document in that it formalizes the insurance contract.
- The premium is the provision or price that the monetized policy holder must pay as consideration of the assumption of risk by the insurer.
- The risk is the possibility that the harmful event occurs and is therefore the cause of the contract.
In the field of insurance claims
In the event of discrepancy with the insurer, the consumer or user of insurance has several avenues of complaint:
- Complaint to the Insurer – Model of Claim
- Complaint to the Commissioner for the Defense of the Insured – Model of Claim
- Claim via the Consumer Arbitration System
- Judicial Claim
Types of insurance for the self-employed, professionals and Smes
In function of the asset insured, tend to distinguish between the two types of insurance: damage insurance and insurance of persons.
Damage insurance in the Company
The insurance compensation of damage are objective in that its amount, variable in each case is determined after the incident occurred and according to the material damage suffered by the insured, valued in an objective manner.
Has certain peculiarities with regard to the general regime, among which we highlight those standards that relate to the assessment of the damage and the appointment of third expert, the transmission of the insured object, the subrogation of the Insurer against the persons responsible for the damage, or figures in the secure multiple, infraseguro, sobreseguro and of co-insurance.
Within this modality, the insurance More common are the following: civil responsibility insurance, credit insurance, legal expenses insurance, credit insurance, insurance for loss of profits for companies, theft insurance, insurance for land transport or fire insurance.
In the confident people, unlike the previous ones, the risk refers to the existence, bodily integrity or health of the insured, distinguishing itself in addition in the economic valuation of the interest insured, which is based on different criteria.
Life insurance have certain peculiarities regarding the general regime, among which we highlight those that relate to the appointment and dismissal of the beneficiary of the payment, early cancellation of insurance, payment of the premium, redemptions and advances, assignment of the policy, inaccuracy of the statements of the policyholder and the bankruptcy of the policyholder, making special reference to the new registration of contracts of insurance coverage in the event of death.
Rates and amounts of compensation
- Scale 2014: amounts of compensation in road accidents –Resolution of 5 March 2014, the Directorate General of Insurance and Pension Funds, which are published on the amounts of compensation for death, permanent injury and temporary disability that will apply during 2014 the system for assessment of the damages caused to the people in traffic accidents
- Scale of compensation for accidents at work or occupational diseases –Order ESS/66/2013, of 28 January, which updates the lump sums of compensation for injuries, mutilations and deformities of a definitive character and Non-incapacitating