How to Protect your Insurance Claim

Insurance is the most important element in risk cover to secure you and your family from unforeseen events. But, a denial from your insurer to settle the claim can be a big jolt. Thus, it is imperative to be careful while buying a plan and one must also re-examine the details of the policies already held

Here are tips to ensure your claim is not rejected: 

1. Don't suppress vital information: Insurer fixes the premium based on the information provided by you which includes your age, occupation, liquor/tobacco intake, pre-existing diseases, family history, details of other policies that you hold etc. It is a mistake to conceal facts in order to lower the premium amount as it can backfire.
   

Classification of Insurance(primary brief)

Table of Contents

I. INTRODUCTION. 4

 1.    Classification is principally related to Supervision. 5

 2.    Different Requirements per Class of Insurance. 5

 3.    Criteria for Adoption of Insurance Classes. 6

II. The Separation of Life and Non-life. 7

III. Classification in Europe. 9

 1.    Non-life. 9

 2.    Life. 10

IV.      The Impact on the Insurance Contract 11

V. Non-life Classification in Particular 12

 1.    Accident 12

 2.    Sickness. 12

 3.    Land vehicles. 14

 4.    Railway rolling stock. 15

 5.    Aircraft 15

 6.    Ships. 15

 7.    Goods in transit 15

 8 & 9.  Fire and natural forces. 16

 10.      Motor vehicle liability. 16

 11.      Aircraft liability. 16

 12.      Liability for ships (sea, lake and river and canal vessels) 17

 13.      General liability. 17

 14 & 15.  Credit - Insolvency (general) 17

 16.      Miscellaneous financial loss - employment risks. 18

 17.      Legal expenses. 18

 18.      Assistance. 18

VI. Life Classification in Particular 20

VII.     Classification in the Russian Federation; Recommendations for Change. 22

VIII.       Systems of Classification and State Supervision. 26

XI. Observations. 28