Main insurance terms

Risk in insurance

Uncertain event (which has not yet occurred) affecting an individual, his property or liability.


Term used to refer to the insured individual. In an individual policy, the policyholder pays the premium and is generally the one who is insured.


Natural or legal person entering into an insurance contract with an insurer.


Occurrence of an uncertain event resulting in damage.


Loss, destruction, bodily injury, loss of earnings. Damage may be material (this covers deterioration, destruction or theft of property), personal (physical injury, etc.), or consequential (financial damage, loss of use of property, etc.).

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