What is an insurance contract?

Insurance is a contract whereby the insurer to pay a premium the insured is bound to retaliate within the agreed limits of the damage to it from an accident (Art. 1904 to 1918) or to pay an annuity or a lump sum upon the occurrence of an event related to human life.


The term "insurance" has at least two meanings that interest us:

1) act, the insurer or of effect;
2) contract whereby an insurer, upon payment of a premium, undertakes to carry out a performance:
a) ensure the insured from the harmful effects of an accident, or an uncertain future event (life insurance);
b) pay a lump sum or an annuity upon the occurrence of an event related to human life (life insurance).

These meanings have both a legal reference and in particular, are based on Article 1882 of the Civil Code.

Similarly, codes and laws of other countries refer to this agreement since it, after an uncertain and nebulous received dignity through a legislative decree of the Doge of Genoa Gabriele Adorno in 1269. Behind the meanings of the term insurance "there is a broad historical background, around and in front of them are interesting areas of economic and social prospects.


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