Glossary of Legal Terms
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Amount of money which is used for insuring the insurance company and the final limit on insurer’s liabilities, in accordance with the insurance agreement and the law
Is a document confirmimg the availability of insurance agreement concluded between the insurer and insured and reflecting principal of the agreement
Funds paid in money or in kind to compensate the damage incurred to the property or the property interests of the insured person, in case insurance accident takes place
Amount of money to be paid by the insured to the insurer, in accordance with insurance agreements or this Law
A supposed accident against which effected insurance. The accident considered being an insurance risk shall have accidental indications
Interest rate determined based on actuary calculations for to estimate insurance premium
A physical person signed a contract with the insurer (a physical person get insured) or a physical person considered insured according to the law (with exception of physical persons with limited capacity for work or with capacity for work limited by the court, as well as the persons not baring capacity for work) or a legal entity
An insurance company that is a legal entity founded to carry out only insurance activity and received a special license in accordance with the law
Long-term assets of not material base, which however represent certain value formed by rights and privileges the owner holds.
Intellectual property, including trade marks, other aspects of industrial property as well as similar rights recognized as the property of taxpayer in the order established by appropriate legislation