Insurance benefits (also known as "insurable interest", "insurable interest") is the subject of insurance policyholder has the legal recognition of interests. The insured because the insurance is usually the subject of damage or loss suffered economic losses because the insurance is the object of preservation and profit. Only when the insurance benefits are legally recognized, economic, and determined instead of the expected benefits, the insurance benefits could be substantiated. In general, property insurance, insurable interest exists in the insurance when the accident occurred, when in order to compensate for losses; personal insurance, insurable interest must exist at the conclusion of insurance contracts, used to prevent moral hazard.
With life insurance, for example, the insured of their own and their spouses have an unlimited insurable interest, in some countries and regions such as the insured and the insured by blood, but also constitute an insurable interest. In addition, the creditors of the debtor does not pay off the loan also has an insurable interest.
[Edit] the principle of utmost good faith
The principle of utmost good faith (also known as the "highest integrity"), parties to a contract guarantee insurance to honesty and trustworthiness, to carry out their obligations in good faith. Include the following:
The insurer's obligation to inform the
The insurer should be the content of insurance contracts that the terminology, purpose clearly.
Obligation to truthfully inform the insured
Policyholder should accurately inform the insurance status of the subject.
Insured or guaranteed obligations of the insured person
The insured or the insured person for the act or omission of a certain state of existence or non-existent security. To ensure a clearer one is specified in the insurance contract guarantees, such as the risk of theft, to ensure the installation of security doors, personal insurance driving a vehicle must have a valid driver's license; do not need a categorical assurance that is called implied warranties, such as the Marine Insurance , the implied warranties of seaworthiness insured does not change the course, the legitimacy of navigation and so on. Since the guarantee of the terms of the very strict restrictions on the insured person, so that countries laws restrict the use of implied assurance insurers, and only some common issues as implied warranties.
Waiver and Estoppel
Abstention is the parties to give up certain rights in the contract. For example, insurers, insurance policyholders explicitly inform the subject enough to affect the degree of risk underwriting, the insurer has remained silent and collect the premiums, then gave up exclusions constituted the right of the insurer. Another example, accident insurance, the beneficiary is not the period stipulated in the contract claim, constitute the beneficiaries to give up the right to claim insurance money.
Estoppel means that as the have given up certain rights, it must no longer claim that right. Example, the first example above, the insurer can not be covered, to raise the insured the right to claim refused insurance coverage.
[Edit] The principle of compensation of loss
Compensation principle is that an insurer must provide accident insurance when they suffer losses the insurance subject of the scope of liability under the insurance policy beneficiaries to compensate. The implication for the insurance people in the insurance agreement to compensate for losses resulting from the accident, the beneficiary can not afford to pay the insurance payments received extra benefits. In general, property insurance, follow the principle, but because of the value of human life and body is difficult to estimate, so life insurance does not apply to the principle, but some scholars believe that health insurance for medical expenses should be followed, or else there is suspected of Unjust Enrichment .
[Edit] proximate cause of the principle of
Proximate principle is to determine the risk of accidents and insurance refer to the subject of the relationship between the loss in order to determine the responsibility of the insurance compensation or payment of basic principles. Proximate cause is the subject-matter insured damage occurred in the most direct, most effective and decisive cause, and does not mean that the recent reasons. If the proximate cause belonging to the insured risks, the insurer shall be

Broad categories classified according to the insurance coverage, the small category classification according to the type of subject-matter insured.
See the insurance system table
Property Insurance is the subject of a variety of material possessions for insurance of insurance, the insurer of the material property or material loss of property interests liable.
Fire insurance is underwritten on land kept in a certain geographical area, basically in a static state of the property, such as machinery, buildings, all kinds of raw materials or products, family life due to fires caused by appliances and other losses.
Marine Insurance is essentially a transport insurance, which is the earliest types of insurance to develop a kind of insurance, the insurance people are the subject of maritime perils caused by the loss of insurance liability.
Cargo Insurance is that apart from maritime transport of goods outside of transportation insurance, the main underwriting inland rivers, coastal and air transport of goods in the process of the loss occurred.
A variety of major insurance carriers cover a variety of means of transport in the road and parked in the process of the loss occurred. Major insurance, including
Car insurance cover a variety of auto body damage and third party liability.
Aviation insurance underwriting a variety of passenger and transport aircraft, the aircraft fuselage, third party liability, passenger liability insurance.
Shipping insurance underwriting various types of marine vessels (passenger ships, cargo ships, oil tankers, container ships, barges, drag barge, pleasure craft and fishing boats) and hull, ship machinery, navigation equipment, furniture, materials and supplies, fuel and so can also be insured with the required to remove the other ships collision liability.
Railway locomotive railway rolling stock of any insurance coverage (including property and liability) losses.
Project insurance coverage during the various projects of all accidental damage and third party bodily injury and property damage.
Post-loss insurance refers to the interests of the insurer after the accident insurance of property subject to a variety of intangible benefits that may arise from loss of commitment to the insurance liability insurance.
Theft of property insurance coverage, or because of robbers, thieves steal losses.
Agricultural insurance cover a variety of major crops and a variety of crops or livestock, poultry, such as due to natural disasters or accidents caused by loss.
Liability insurance is based on the insured person's civil liability insurance as a subject matter of insurance.
Public liability insurance cover the insured person for personal injury caused to others or property damage should bear the legal liability.
Employer's liability insurance coverage by employers under law or contract of employment to the employee's personal injury should bear the financial liability.
Product liability insurance coverage the insured person who manufactured or sold the product defect caused the consumer or the use of persons suffering personal injury or other losses arising from liability.
Professional liability insurance coverage, doctors, lawyers, accountants, designers and other freelancers for work caused by the fault of other people's personal injury and property damage liability.
Protection and indemnity insurance coverage car, boat operations, in accordance with the provisions of the law or contractual commitment to others, liability for damages.
Guarantee Insurance Insurance is the subject of credit risk.
Credit insurance in order to enter into a contract party to the contract by requiring insurers to take each other's credit risk for the content of insurance.
Guarantee insurance to people warrantee obligations under the contract require insurers to guarantee the rights of people should meet their obligations on the insurance.
Life Insurance is based on the human body or the subject of life insurance as an insurance, insurance, insurance, the insured person the person who suffered personal injury and death during the period, or the expiration of the insured casualty insurance, or survival, the payment of the insurance payment.
Personal Accident Insurance is the insurer of the accident the insured person who suffered disability or death, when to pay the insurance liability insurance.
Sickness insurance also known as health insurance, the insurance the insured person due to illness incurred medical expenses, or loss of the ability to work due to illness, according to the agreed terms of payment of insurance premiums of insurance.
Life commitment to human life, with its life or death for the insurance subject of insurance.
Risk Protection Universal Life Insurance
Death insurance to regular insurance, the insured person died during the conditions for the payment of insurance.
Death for life insurance to the insured person died as the payment conditions for life insurance.
Endowment insurance to the insured person dies within the insurance period, or the expiry of the period the insurance is still living conditions for the payment of insurance, savings and nature.
Pension insurance to the insured person for the payment of living conditions to ensure that the insured person a fixed period of time, according to a certain time interval to receive payments of insurance.
Finance and investment-type life insurance
Participating Insurance
Investment-linked insurance that insurance companies would end up with incoming capital (premium) In addition to the amount available to customers outside of the insurance, but also the subject of links to do the fund which enables customers to enjoy the investment game.
Universal Life Insurance (also known as 10000 with life insurance)
Re-insurance to insurance companies for the insurance risk of the subject of insurance.

Insurance bud
Around 2500 years BC, the ancient Babylonian king ordered the monks, judges, mayor, etc., revenue collection, as the fire relief funds. Ancient Egyptian burial stonemason formed mutual aid organizations, with the delivery of contributions to resolve Shoulian burial funds. The Roman Empire soldiers organizations to raise funds in the form of a Memorial to the bereaved family to provide maintenance, gradually formed insurance system. With the development of trade, about 1792 BC, it was the sixth generation of the ancient Babylonian King Hammurabi era of commercial prosperity, in order to aid business and the protection of the mule caravan and cargo loss compensation, in the Hammurabi Code, provides for compensation for loss of common terms apportioned.
BC 916 years, Rhode Island in the Mediterranean, the king in order to ensure the normal conduct of maritime trade developed a roti, Maritime Security, the provisions of a certain shippers suffered losses caused by, including the owner, all of the ship, including the owner of the goods to benefit were shared, which is marked the beginning of marine insurance.
In the 260 years BC - 146 BC, the Punic War, the ancient Roman military transport in order to solve the problem, collect 24-36% of the cost of business as a reserve fund, to compensate for loss of cargo, which is the origin of marine insurance.
BC 133 years, set up by the Roman Recchia (Masonic organizations), to join the organization who receive 100 Chak Division, and a bottle of respect people's sake. Another 5 per month charge Ze Division accumulated a fund for the funeral of the subsidies, it is the seeds of life insurance.
Insurance, mutual assistance in the form from the embryonic period of the progressive development of a risk loans, the development of the marine insurance contract, developed to marine insurance, fire insurance, life insurance and other insurance, and gradually developed into a modern insurance.
[Edit] Marine Insurance
The 17th century, the European Renaissance, the British have a greater development of capitalism, after a large-scale colonial plunder, the British increasingly develop into a share of world trade and shipping industry dominance of the British Empire, for British businessmen to launch a worldwide marine insurance provided the conditions. Insurance broker system also arose. Mid-seventeenth century, the old Ed Edwards opened the Thames River, "Lloyd's Coffee House", become the exchange shipping information, purchase insurance and a place to talk business news. Followed by coffee shop start-up insurance. Lloyd's coffee shop in 1969 moved to London's financial center, as the present Lloyd's predecessor.
[Edit] Fire Insurance
The existing fire insurance system originated in the United Kingdom. September 2, 1666, a huge fire in London (see Great Fire of London), more than half of the city was burned, a loss of about 12 million pounds, 20 million people homeless. As the lessons of the fire, the insurance idea gradually been taking root. 1677, dentist Nicholas Barbon opened in London in personal insurance, business insurance, fire houses, there has been the first fire insurance firms exclusive housing, fire insurance companies gradually increased, the years 1861 -1911, the United Kingdom registered Fire insurance companies to reach 567. In 1909, the British Government in the form of fire insurance law to constrain and supervise and promote the normal development of the fire insurance business.
[Edit] Life
In the Middle Ages, various lines will prevail in Germany "support treasury," America's "friendship society", the Netherlands and France's "pension system" and so on in order to raise capital in the form of the life insurance industry began.
The United Kingdom in 1688 for establishing a "widow's pension system" and "Widows and Orphans insurance would" and other insurance organization, so that life insurance enterprise.
[Edit] Social Insurance
A modern social insurance system in Germany by the 19th century Iron Chancellor, Otto von Bismarck in order to compete with the socialist movement created by the working class and the first since the European countries have also followed suit, mainly including health care, retirement (pension), etc. aspects.