assegurances

Assegurances, in Catalan usage, refers to contracts or products in which an insurer undertakes to compensate the insured for specified losses or events in exchange for premiums. The core purpose is to transfer the risk of financial loss from individuals or organizations to a pool managed by a licensed insurer.

Common lines of coverage include life, health, auto, property and casualty, liability, travel, and reinsurance. Some policies insure against events such as illness, death, fire, theft, or liability for damages caused to others. Insurance can be purchased by individuals, families, businesses, or public entities.

How it works: applicants are underwritten; premiums are set based on risk factors such as age, health, property value, and operating exposure. A policy outlines covered events, limits, deductibles, exclusions, and conditions. A claim is filed after a loss; the insurer investigates and, if approved, pays toward covered expenses or provides replacement, subject to policy terms. Premiums fund the pool of resources and support future claims.

Regulation and economic role: Insurance markets are typically regulated by national or regional authorities to ensure solvency, fair treatment, and disclosure. Requirements often include minimum capital, reporting, licensing, and consumer protections. The sector supports risk management for households and firms and contributes to the economy through investment of premium streams and the transfer of risk.

History: Modern insurance developed in Europe and North America from the 17th century onward, with precedents earlier. The development relied on risk pooling, contract law, and actuarial science to price risk and maintain solvency for large numbers of policyholders.