What Is Underinsurance and the Proportional Rule?
In our daily work as an insurance brokerage, clients often ask us about technical concepts we use frequently. Recently we discussed the rule of equity. Today we wanted to explain underinsurance and the proportional rule, because both are widely used terms in the...
The Application of the Rule of Equity in Insurance
The rule of equity in insurance is a mechanism that applies in different types of policy. What Does the Rule of Equity Consist Of? The rule of equity is provided for in Article 12 of the Spanish Insurance Contract Act, Law 50/1980 of 8 October. Essentially, it...
Market Value in Insurance
Market value in insurance is a concept that many people interested in insurance products are unfamiliar with because of its technical origin. However, it is important to understand what it means when it is applied in policies. What Is Market Value in Insurance? First,...