Insurance – a system of forms and methods of forming the trust funds of funds and use them to damages under various contingencies, adverse events, and to assist citizens when certain events in their lives.

The set of relations expressible insurance insurance terminology can be divided into three groups:

I. Insurance relations associated with the general conditions of insurance;

II. Insurance relations associated with the formation of the insurance fund

III. Insurance relations associated with the expenditure of the insurance fund

I.

Insurance coverage – a combination of redistribution of relations over the counter or compensation for losses inflicted by the object of insurance.

Insurable interest – an economic need for stakeholders to participate in insurance.

Insurer – this is (always an insurance company) a legal person who, in accordance with the proposed or concluded by the insurance contract assumes the obligation to pay damages suffered by the insured upon the occurrence of the contractually agreed insured for a fee.

Insured – a natural or legal person having an interest in the insurance object, which comes with the insurer in the contract, to ensure their interest and the insurer pays compensation for its acceptance of risk.

Security system – is an individual life, health, work capacity, which is the subject of protection of personal insurance, can be both the insured if the premiums paid under the terms of insurance.

Property insurance – insurance is subject to wealth, life, health, responsibility.

The subject of insurance – is a particular object of insurance.

Insurance liability – is a set of rights and obligations of the insurer to protect the interests of the insured under the particular contract.

The limit of liability of the insurer – is the maximum possible liability of the insurer under the contract of insurance and fixed in the insurance policy.

The recipient of the insurance compensation or the insured amount – this is a natural or legal person who, under the terms of insurance are entitled to receive the corresponding funds.

Insurance policy – a document issued by the insurer and the existence of a contract of insurance, it contains the conditions of the concluded contract.

The rules of insurance – this insurance terms, defining the rights and obligations under the insurance contract, the object of insurance list of insurance cases and the exceptions under which the insurer is usually exempt from liability (so-called force majeure).

II.

Insurance Assessment – is a specific value of the object of insurance for the purpose of the insurance contract.

Insurance coverage – is the level of insurance ratings in relation to property taken by the insurance

The sum insured – a sum of money, which is actually insured property, health, life.

Insurance rate – is expressed in rubles fee per unit sum insured or the interest rate of the total sum insured, serving for the formation of the insurance fund.

Premium – an amount that the insurance premium paid by the insured, the insurer for the acceptance of obligations to the damage caused, which may be caused to the policyholder.

Term insurance is the period during which the insured object of insurance.

The insurance field – is the maximum number of objects that can be insured.

Insurance portfolio (I) – is the actual number of insured objects or actions, insurance contracts, documented in affairs of the insurer.

Insurance portfolio (II) – a set of insurance risks taken by the insurer for a certain period.

Insurance Age – this age group, within which citizens are accepted for insurance or be insured livestock farm animals.

III.

Insured event – an event or set of events under the terms of insurance, with the onset of which by law or existing contract of insurance, the insurer is obliged to fulfill its obligations for damages.

Insurance expense – the cost of the completely dead or impaired part of the insurance assets of the insurance assessment.

Insurance compensation – a sum payments from the insurance fund, covering damage caused by the property insurance and liability insurance. It may be equal to or less than the sum insured on the basis of the conditions of the insurance contract.

Insurance claim – this claim against the insured to the insurer in connection with the insured event, which occurred as a result of chance under the terms of insurance.

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