Insurance definition - What it is, Meaning and Concept

The term sure comes from the Latin secūrus and has different uses and meanings in the Spanish language.It is about what is true and indubitable , or that free of risk and danger appears.The word safe is used as a synonym for security or certainty .

In this sense, we must expose that there are many devices in our current society that have what is called safe.It is a mechanism that prevents them from functioning without the will of the person who uses them.This would be the case , for example, weapons because they have insurance that prevents them from being accidentally fired causing damage and injury to people, facilities or objects.

In this sense, for example, we can talk about safe sex , which refers to those sexual relations where the health of those involved is not put at risk (at use condoms to avoid sexually transmitted diseases, etc.).

On the other hand, insurance is a contract through which a person pays a premium to receive compensation in case of an accident or theft, for example.There are also life insurance , where the insurance company pays a certain sum to the relatives of the dead.

In the same way, it is also common for every person who has one or more vehicles to have a car insurance, and thanks to that document, and the corresponding payment of fees that must be paid periodically, that individual has guaranteed the payment of material disasters that your car may have because of an accident or any other kind of fortuitous event.

In this field the figure of the professional known by the name of insurance broker acquires a fundamental weight.It is an individual who works for an insurer in question and whose main function is to act as a mediator in the establishment and firm of the aforementioned contract between the individual and the aforementioned company.

In the insurance contracts , there are reciprocal obligations and rights for the insurer and the insured.The intention of the insured is to obtain economic protection of their property or of people who could suffer damage, while that the business for the insurer is the collection of the premium.

The insurance contract implies the existence of an insurable interest (a legal relationship is established between an economic value and a good; it is possible to insure material goods, such as a house or a car, and intangibles , such as economic damage or loss of earnings), an insurable risk (the possible, uncertain and future event that could cause damage to the insurable interest), a premium (the cost of insurance) and the obligation of the insurer to indemnify (when charging the premium, the insurer is obliged to take the risk and pay the compensation in the event of an accident).

In addition to all of the above, and finally, we have to make clear that there are many expressions that we use in a colloquial way and that resort to the use of the safe term that now concerns us.”, Which is used to refer to someone going to venture to do some or knowing that there is no risk in it.