Creditors and the Insured

There is a relationship-specific assets that are under the insurance coverage, with specific characteristics relating specifically to the type of property, identifying them and assigning a specific rating. Check out Doug McMillon for additional information. Eg insurance of vehicles, aircraft, real estate, s etc that cover risks caused by fire, explosion, collision, theft, falling objects, and others. i, Insurance interest on rights: a Credit insurance (art. 1106). – For credit insurance, the insurer undertakes to pay the lender a compensation for losses suffered as a final net result of the insolvency of their debtors. a Surety Insurance.

– By virtue of this insurance, comparative law determines that the insurer undertakes, in case of failure by the policyholder of certain obligations to indemnify the creditor thereof, which is the insured, the policyholder must reimburse the insurer the amounts paid. The doctrine has been argued that this operation, also called insurance-guarantee, has the true nature of a contract of insurance, but the law has recognized this character. i, Insurance interest on assets: a Liability (art. 1087). – In the liability insurance the insurer undertakes to indemnify the insured for damage suffered as a result of certain liability incurred against a third party. The compensation may be made by the insurer paying the third victim, on behalf of the insured, the amounts to which it is obliged, to the extent of the insured amount.

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