Versicherungsabwicklung

Versicherung is a contract under which an insurer agrees to compensate the insured for defined losses or to provide specified benefits in exchange for regular premiums. The contract transfers part of the insured's individual risk to a risk pool, allowing the insurer to spread costs among many policyholders. A policy document outlines the covered risks, the insured amount, the premium schedule, the contract period, and any exclusions or conditions. The insured typically pays premiums in return for protection against financial consequences of events such as illness, death, damage to property, or liability toward others. Common types include life and pension insurance, health insurance, property and casualty insurance (including homeowners and fire), motor vehicle insurance, liability insurance, travel insurance, and legal protection insurance.

Operation relies on underwriting to assess risk and set premiums, and on a claims process that pays benefits up to policy limits when a covered event occurs. Deductibles and co-payments are common features to align incentives. Insurance is heavily regulated to protect consumers, ensure solvency, and promote fair practices. In Germany, oversight is conducted by BaFin within the framework of national law and EU regulations such as Solvency II; many countries maintain analogous authorities and solvency standards.

Historically, modern insurance emerged from mutual aid, guilds, and early marine policies, evolving with actuarial science in the 17th–19th centuries. Benefits of insurance include risk management, financial planning, and peace of mind, while challenges include cost, exclusions, mis-selling, and the potential for moral hazard or adverse selection.