Insurance

Insurance is the transaction whereby one party (the insurer) undertakes to perform a service for the benefit of another party (the insured) in the event of the occurrence of a random event (the risk) in return for a sum of money (the premium or contribution).

Subscriber  

This is the one who simply takes out an insurance contract within the framework of a risk transfer to the insurer. The subscriber may not be the one being insured.

Insured 

It is the one on which the defined risk is based.

The risk may be based on goods (car, home, transport, business, etc.) and/or people.

Insurer 

This is the party who agrees to take on the risk to which the insured is exposed.

Premium

It is the sum of money paid by the insured to the insurer, so that the latter will assume the risk to which he is exposed, should it occur.

Risk

It is an uncertain event whose occurrence negatively impacts the achievement of an individual's goals.

Accident

It is the occurrence of the risk guaranteed in the insurance contract. The occurrence of this risk results in damage (material, bodily or immaterial) or loss.

Damage

In law, a damage is the prejudice that a person suffers.

Compensation

It is the amount paid by the insurer to the insured, as compensation for the damage suffered by the latter, in the event of the occurrence of the event provided for in the insurance contract.