Insurance Introduction by fdjerue7eeu

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									Insurance Introduction
? What is the insurance
"Accidents will happen, people have always happens." Natural
disasters and accidents are likely to occur in human life, there may not occur or
natural risks. Insurance is the transfer of risk, the best means of compensation for the
loss. . "The People's Republic of China Insurance
Law" (hereinafter referred to as "Insurance Law")
Article 2 defined the definition of insurance: "this law, insurance, is
insured under the contract, to pay the insurance premium, the insurer agreed to
contract possible occurrence of an accident caused by its pay compensation to
property damage liability insurance, or when the insured death, disability, illness or
age to contract, deadline undertake to pay the liability insurance commercial
insurance acts. "
Based on the above definition, the first act of commercial insurance to the insurance
contract is a form of economic compensation for the content of the civil legal act,
different from the national legislation based social insurance; second policyholder
must contract to perform Contributions obligations in order to receive the insurance
claim from the accident and the economic compensation, different from the unilateral
grant-based social assistance; third, payment of compensation insurer obligations
(other than life insurance) is uncertain, depends on contract of accident (life insurance,
also known as events) occurred or not, to determine the beneficial interest is different
from the basis of the savings system.
   Legal management point of view: is insured under the contract, to pay the insurance
premium, the insurer for the contract because of the possible occurrence of incidents
of property damage caused by bear the compensation liability insurance, or when the
insured dies, disability, illness or age to contract, undertake to pay during the period
of commercial insurance, liability insurance acts.
   Risk management point of view: a risk management techniques, risk transfer
mechanisms.
   Economic point of view: an effective financial arrangements.
Elements of Insurance
   First, the existence of insurable risks
   Insurable risks should have the conditions:
   1, the risk should be purely risk
   2, the risk should be subject to large losses are possible with
   3, the risk should have led to the possibility of significant losses
   4, the risk can not be the subject while the majority of insurance losses.
   5, the risk must have a realistic testability.
   Second, the risk of a large number of homogeneous collection and dispersion (a
collection of most people's security, compensation for the loss of a few
people)
   1, the risk of a large number of
   Technical requirements for risk diversification, application of probability theory
and law of large numbers
   2, the homogeneity of the risk
   Homogeneous risk: the risk of unit types, quality, performance, value and so similar
in general
   Third, the determination of premium rates
   1, the principle of fairness: insurance and insurance on the other, the risk premium
and the insurance status of the underlying suit
   2, the principle of rationality: the insurer can not obtain operating profit,
non-normal setting high premiums
   3, moderate principles: cover all possible losses and operating expenses
   4, the principle of stability: stability in the short term
   5, elastic principles: long-term, appropriate adjustments
   Fourth, the establishment of the insurance reserve
   Insurance Reserve: refers to the insurance man to ensure her that is about to fulfill
the insurance compensation or payment obligations under government law or Ye Wu
specific needs, from extracting premium revenue or earnings in the insurance and they
assume responsibility for a number of funds corresponding to.
   ?1, before the advent of its liability reserves: reserve valuation date but not yet
drawn to fulfill the insurance liability reserves, mainly referring to the period of
insurance insurance companies insurance in less than 1 year but not yet due under the
contract insurance and extraction of reserves.
   2, outstanding loss reserve
   Insurance companies which have not yet closed the Pei An extract reserves which
have occurred have been reported claim reserves, incurred but not reported claim
reserves and claim expense reserves.
   3, the total reserve
   To meet the expectations of the risk of loss of more than more than partially
responsible for the loss of reserves, total reserves from the insurance
company's operating surplus extracted.
   4, life insurance liabilities
   Calendar year means the insurer to the insured to pay the pure premium and interest
income accumulated for the future of insurance benefits and surrender benefits and
extraction of resources, or that the insurer has not yet received the responsibility to
fulfill the insurance premiums
   5, Insurance Contract
   Insurance as a civil legal relationship is between the insured and the insurer a
contractual relationship.
   Insurance is the insurance contract the parties to fulfill their respective rights and
obligations.
Insurance features
   First, Mutual - "a person the public, the public as a person"
   Second, legal - contract act
   3, economy - economic security activities (currency)
   Fourth, commodity - exchange of equal economic relations. Direct relationship
between the performance of commodity economy and for individual insurance, the
interaction between individual policyholders. Indirectly, as follows: All ins urers and
exchange relations between all policyholders
    5, science - the scientific and effective measures to address risk
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