The area of law regulating the insurance activity. Insurance is a means of protection from financial loss. It is a form of risk management primarily used to hedge against the risk of a contingent, uncertain loss.
An entity which provides insurance is known as an insurer, insurance company, insurance carrier or underwriter. A person or entity who buys insurance is known as an insured or policyholder. The insurance transaction involves the insured assuming a guaranteed and known relatively small loss in the form of payment to the insurer in exchange for the insurer's promise to compensate the insured in the event of a covered loss. The loss may or may not be financial, but it must be reducible to financial terms, and usually involves something in which the insured has an insurable interest established by ownership, possession, or preexisting relationship.
Vuirtus leo has experience in providing legal assistance in insurance matters, including various types of insurance activities (insurance itself, or primary insurance, reinsurance, co-insurance, mutual insurance), which are called to provide insurance protection in a complex. Our team was involved by companies in order to protect their rights in connection with the occurrence of insured events.