Risk - Insurance - insurance in european perspective
9 important questions on Risk - Insurance - insurance in european perspective
How is insurance on european level organised?
-> focus on customer protection and information transparacy
- investment fund required
What are the 2 types of damage claims?
- Structural claims : normal
- calamity risks: huge disaster, difficult to quantify ( more than 1 insurance needed to cover losses)
What is a coinsurance?
single contract
single premium
single period
-> for entire risk
- each participating insurance pays a % of total
---> objective: diversify the risk
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What is a reinsurance?
100% or partial risk transfer
proportional (x%) or disproportional ( exemption)
results:
- transfer risk
- make extra profit
- free up capital
- free up capacity for new customers
---> objective: transfer risk
What is a business interruption policy?
Of which 2 insurance policies is cyber policy a combination?
- Liability insurance and object insurance
this is an insurance that cover cyber hacking, ICT repairs etcetera
What is guaranteed income policy:
--> not cheap
What is a liability insurance:
Liability for entrusted objects:
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