In the current times, it is very necessary to have insurance, mainly due to the insecurities that may arise on a daily basis. It is a contract by which the insurer is obliged to the insured, in exchange for the collection of a sum of money determined premium, which would be paid within the terms that have been carried out in the legal document, a capital or other benefits agreed by the client, in the event of an event whose risk is the object of coverage.
This being the case, it should be noted that when transferring the risk via an insurance document, it is not understood that the conflict is reduced or avoided altogether, however, the associated losses are assumed by the insurer.
It must be borne in mind that not all types of problems are covered by insurance, therefore, the insured must be aware of what kind of problems they may face with the help of the guaranteed service.
Transition to Legal Insurance
Likewise, the transfer through legal insurance treaties is subject to the different variables that the insurance sector offers, influenced by the behavior of the different risks that may be covered. So, for the market to offer the possibility of insuring a certain inconvenience, its probability of occurrences cannot be too high.
And if it does, the risk would materialize, the total cost of the premium increases substantially, which is not profitable for the insured, nor commercial for the company.
The beneficiary: Is the subject who will receive the payment from the insurance company. It is the holder of the indemnification rights. Generally of free appointment, although it is normal practice that the beneficiary has in some way a common bond of personal, family or economic interests with the insured or contracting party.