SegurCaixa Holding > Glossary of insurance terms

Glossary of insurance terms

Civil liability
This is the obligation to respond for acts or omissions that cause damage to third parties, when blame or negligence are involved.
Coinsurance
In the event of two or more insurance companies, with a previous agreement between themselves and the policyholder, coinciding in the cover of the same interest, risk and time. Unless agreed otherwise, each insurer is obliged to pay for the cover and benefit in proportion to their respective quotas.
Content
The furniture, utensils and household items or items for personal use that pertain to the household except those deemed valuable objects or jewels. Valuable objects: fur items, stamp and coin collections, objects of art, and also silver and ivory objects that do not contain platinum, gold, pearls nor precious stones. Jewels: gold and platinum objects as well as those that contain pearls and precious stones.
Copayment
The amount the policyholder or the insured person must pay the insurer for certain health benefits received (such as doctor’s visits, medical examinations).
Consequential damage
Damage directly derived from personal or material damage covered by the policy.
Contract consent
The contact acquires its valid legal state through the consent of the parties.
Control Commission of the Pension Plan
A body made up from representatives of the promoter, the participants and beneficiaries, if there are any, who supervise the workings and execution of the pension plan
Complementary guarantees in life insurance
These are additional covers to the principal life insurance the insurer offers the policyholder or the insured person.
Cover term
Period of time that elapses between the initial and ending dates of the cover.

up