Insurance and Reinsurance Services – System of Relationships in Order to Protect the Interests of Individuals and Legal Entities

Viorica Ionascu and Argentina Velea ()
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Argentina Velea: "Dimitrie Cantemir" Christian University

Knowledge Horizons - Economics, 2013, vol. 5, issue 2, 48-54

Abstract: In the current economic and social context, the development of insurance and reinsurance services is a necessity. The negative effects of possible events that act on the integrity of material goods or on human life (calamities, accidents, incidents etc.) can be reduced or prevented by the insurance or reinsurance services. They form the basis of a system of relationships in order to protect the interests of natural and legal persons. Insurances are well established in the market economy, through the establishment and use of insurance fund, the creation of jobs and the functions they fulfill (distribution, control, compensation for damage, damage prevention and financial).

Keywords: Concept of insurance; reinsurance, co-insurance; self-insurance; the principle of mutuality; insurance functions; items insurance; terms and conditions of the insurance contract (search for similar items in EconPapers)
JEL-codes: P46 (search for similar items in EconPapers)
Date: 2013
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