Insured Event

Any event that would cause an insurer to pay a claim. For example, in car insurance, an insured event may be a car accident because it would cause the insurance company to compensate the policyholder for property damage and/or medical bills. Insurance companies base their premiums on the likelihood that an insured event may happen. For example, a younger driver may pay a higher premium than an adult because younger drivers may be statistically more likely to cause an accident.

References in periodicals archive ?

The cash surrender value is the sum of money an insurance company pays to a policyholder, or an annuity contract owner in the event that his or her policy is voluntarily terminated before its maturity or an insured event occurs.

Living benefits of life insurance

The cancellation of a banking licence is an insured event as stipulated by Federal Law 'On the Insurance of Household Deposits with Russian Banks' in respect of the bank's retail deposit obligations, as defined by law.

Banking licence of RUNETBANK cancelled

The upper level of insurance payment for a particular insured event makes 1.04 million soms.

Parliamentarians review reasons of suicides committed by servicemen in Kyrgyzstan

This USA Cycling sanctioned and insured event will start at 3:00 PM, and will feature a race for all levels of bike riders.

Georgia Cup-Duluth Twilight Criterium Race Featuring Vertical Horizon

Business interruption cover will protect loss of gross profit if an insured event prevents the business from trading normally.

DOING YOUR HOMEWORK; BIZ TOP TIPS

One of the distinct features of an insurance contract is that the insurer assumes the risk of an insured event solely subject to the policyholder's payment of insurance premiums.

Does the insurance premium payment regulation as stipulated in the principles of European Insurance Contract Law protect policyholders sufficiently enough?/Ar draudimo imokos mokejimo reglamentavimas, itvirtintas Europos draudimo sutarciu teises principuose, pakankamai apsaugo draudejus?