Kindlustusga

Kindlustusga is a concept within insurance law, specifically in Estonia and other jurisdictions that follow similar EU regulations. It refers to the information about the insurance contract that the insurer is obliged to provide to the policyholder at the time of conclusion of the contract or at the time of the first payment.

According to the Insurance Contract Law act in Estonia, kindlustusga includes information about the main features of the insurance contract, the rights and obligations of the contracting parties and the reimbursement rules. The information typically includes details about the insured risk, the amount of compensation in case of claim, the risk-importance, and the potential risks.

The primary purpose of kindlustusga is to ensure that policyholders have a clear understanding of their insurance contract and its terms and conditions. This provision enables them to make informed decisions when acquiring an insurance policy. Kindlustusga also serves as a mandatory document that the policyholder can use to receive compensation in case of an insurance claim.

In addition to its role in facilitating clear communication between the insurer and policyholder, kindlustusga is also a part of the regulatory framework aimed at promoting transparency and fairness within the insurance industry. Providing policyholders with key information about their insurance contracts supports consumer protection goals and encourages a culture of transparency and accountability among insurers.

The specific types of information included in kindlustusga may vary depending on the jurisdiction and the type of insurance contract. However, the underlying objective remains consistent: to ensure that policyholders have a comprehensive understanding of their insurance contract.