2. Insurance basics
For definitions of certain terms, please consult the glossary in [Doc. SE 3600].
2.1 Insurability of a risk
Insurance companies distinguish between :
speculative risk (also known as "entrepreneurial" risk), resulting from a deliberate decision by the entrepreneur to achieve his or her objectives (for example, the commercial failure of a product);
pure risk (also known as "insurable" risk), the consequence of accidental or fortuitous events (e.g. fire, miscalculation).
Since pure risk is beyond the control of the decision-maker (fortuitous risk), it alone can be covered by an insurance policy.
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Insurance basics
Property damage risks
Bibliography
Websites
French Federation of Insurance Companies http://www.ffsa.fr
This site provides :
a glossary of insurance terms ;
documents (presentation of the main insurance policies) from CDIA (Centre de documentation et d'information de l'assurance).
Characteristics of the main property and casualty policies
The characteristics of the main property and casualty policies are summarized in tables 2 , 3 ,
Characteristics of the main liability policies
Damage to third parties can be :
bodily: injury to the physical integrity of human beings;
material: damage to property (including animals) belonging to third parties or to those in which he has an interest;
immaterial: i.e. any financial loss. For an insurer, it is important...
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