- Aprile 08, 2021
For health insurance, people with chronic health problems or who require regular medical care should look for policies with a lower deductible. All contracts must have a legal purpose to be enforceable by the courts, and that is obviously what most insurance contracts do. An insurance policy cannot cover every conceivable risk. An insurance contract contrary to a law, contrary to public order or involved in a prohibited activity is deemed unenforceable in the courts. A contract that protects, for example, against the loss of burglary tools is contrary to public policy and is therefore unenforceable. An insurance contract is a legal agreement that determines the responsibilities of the insurance company and policyholders, as well as the specific coverage conditions as well as the duration and costs of insurance. Typical features of an insurance contract include offer, acceptance, consideration, legal capacity and purpose, as well as compensation. Insurance is now subject to a mixture of statutes, administrative authorities and judgments. National laws often control premium rates, prevent unfair practices by insurers and protect insurers from financial insolvency to protect policyholders.
At the federal level, the mccarran-ferguson law (Pub. No. 79-15, 59 Stat. 33  [15-United States Codified.C.A. 1011-1015 (1988)), to retain regulatory control of insurance as long as its laws and regulations are not in contradiction with federal laws on rate setting agreements, discrimination between rates and monopolies. The insurance policy or contract is a contract by which the insurer promises to pay benefits to the insured or, on his behalf, to a third party if certain events occur. Subject to the “Fortuity” principle, the event must be uncertain. The uncertainty may be either when the event will occur (for example. B in life insurance, the date of the insured`s death is uncertain) or whether it will occur (for example. B in fire insurance, whether or not there is a fire).  Most insurance contracts operate on the principle of compensation, i.e.
the insurance company undertakes to make the insured complete after a certain loss, but no more and no less. The principle of compensation stipulates that an insured cannot benefit from an insurance contract and that the payment must correspond to the actual amount of losses in the vicinity. n. a contract (insurance policy) by which the insurer (insurance company) agrees to pay the insured a tax (insurance premiums) to pay the insured all or part of the damage suffered by accident or death. Losses covered by the policy may include property damage resulting from an accident or fire, theft or intentional damage, medical expenses and/or loss of income due to bodily harm, long-term or permanent loss of physical capacity, the rights of others as a result of alleged negligence of the insured (e.g. B public civil liability insurance), loss of a ship and/or loading, finding of a lack of ownership, dishonest personnel or loss of life of a person.