Duties And The Rights Of The Parties Which Have Concluded The Insurance Contract
What duties and the rights possess the parties which have concluded the insurance contract?
The parties which have concluded among themselves the insurance contract are accepted to name the insured and the insurer.
The insured is legal or the physical person who has concluded the insurance contract with the insurance company. The insured can insure (that is to conclude the insurance contract) as directly himself and the third party (third parties also).
The insurer is the company rendering services of insurance legal and physical persons. To render such services the insurance company should have the special license.
Concluding the insurance contract, both the insured and the insurer incur certain duties and get the certain driver’s license. About what rights and duties the insured and the insurer possess the speech in given article will go further.
The rights and duties of the insured are the next.
The insured has the right:
1. To receive insurance compensation (a sum of money specified in the insurance contract) in case of approach of insured event (what case is insurance also registers in the contract).
2. To a case of own death — to transfer the rights as the insured to the relative or the third party.
The insured is obliged:
1. In time and in full to pay insurance payments (the sum of an insurance payment and payment terms are specified in the contract).
2. To hand over to the insurer the necessary information on object of insurance (the information should be authentic — otherwise the insurance contract can be terminated).
3. To inform the insurance company on insured event approach in the terms defined by the insurance contract.
4. To do the utmost for prevention of approach of insured event and material damage minimization.
5. Other duties, certain are concrete the insurance contract.
The rights and duties of the insurer.
The insurer has the right:
1. To render insurance services legal and to physical persons.
2. To appeal in case if will be made the decision on deprivation of the insurer of the license for rendering of insurance services.
The insurer is obliged:
1. To inform the insured on rules of rendering of services of insurance.
2. To renew or terminate the contract of insurance at will of the insured (according to rules of rendering of insurance services).
3. To calculate the size of the insurance sum.
4. At the statement of the insured for insured event approach — to make corresponding papers.
5. To compensate material damage and losses which were incurred by the insured as a result of approach of the insured event specified in the contract of insurance.
6. To keep confidentiality of the information on the insured and object insured by him.
7. Other duties defined by the concrete contract of insurance.
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