(1) In financial loss insurance, the object of the insurance is the patrimonial interests of the insured related to the financial losses incurred by the insured as a result of non-performance or improper performance of the contractual obligations by the debtor of the insured. (2)…

(1) In insurance of guarantees, the insurer, as guarantor, shall cover the financial losses incurred by the insured as a result of the non-performance or improper performance of the contractual obligations of the policy holder. (2) In insurance of guarantees, the insured is a person…

(1) In credit insurance, the insurer shall insure the insured’s risks for the total or partial non-repayment of credit or loan instalments and the related interest by the debtor of the insured. (2) In the case of credit insurance, both the policy holder and the…

(1) In health insurance, the insurer undertakes to pay the expenses incurred at the occurrence of the insured event. (2) The object of health insurance is the patrimonial interests of the insured, correlated with its life and health, related to the compensation of the expenses…

(1) Action against the insurer, whether brought by the insured or by the victim, shall be prescribed when the victim’s action against the insured is prescribed. (2) The period of prescription for a claim made by the victim against the insured is suspended from the…

The payment of insurance money to the policyholder or insured, as the case may be, will only discharge the insurer from its obligation towards the victim in on of the following cases: a) the victim has waived his direct claim; b) the victim has not…

(1) Upon request by the victim, the policyholder and the insured shall provide the information needed for making a direct claim. (2) The insurer shall notify the policyholder in writing of any direct claim made against it without undue delay and, at the latest within…

(1) Victims are to enforce their rights against the persons liable to repair the loss. (2) To the extent that the policyholder or the insured, as the case may be, is liable, the victim shall be entitled to a direct claim for compensation against the…

(1) If the total payments due to several victims exceed the sum insured, the payments shall be reduced proportionately. (2) An insurer who, being unaware of the existence of other victims, has in good faith paid out the indemnity to the victims known to it,…

(1) The insured event shall be the fact giving rise to the insured’s liability that occurred during the liability period of the insurance contract unless the parties to an insurance contract for commercial or professional purposes define the insured event with reference to other criteria…