Criteria Eksposure Which can be Insured
Because insurance is a method of handling risks in such a logical, why don't all the uncertainty be handled in this way? Why not just merge all the uncertainty it into a large container and let go of the world of most risk? the sad fact is that for works insurance must meet certain conditions:
(1) there must be a large group of 30 units are homogeneous. (2) the losses caused by the disaster must be certain. (3) the occurrence of loss in the case of an individual shall be purely accidental or unintentional loss, (4) potensil shall be large enough to cause distress, (5) the costs of insuring her must be economically possible, (6) the possibility of losses must be taken into account, (7) disaster shall not likely lead to loss against an awful lot of units that are covered at the same time.
1. A large group of 30 units that are Homogeneous
To make it easier to predict the likelihood of losses by using the law of large numbers, is required once a large number of the same units that may be affected by the same disaster. a fire insurance companies will not be able to operate only with 25 or 50 homes for the insured. With such a small amount it is not possible to make a forecast losses accurately. Not only the units that need large numbers, but also should be relatively the same. In life insurance for example, there should be a large number of people in each age classification, health and employment.
2. Certain Losses
The loss was very difficult to fake. The death of almost perfect time items are eligible. Death in such a difficult in mock right so that the distance of the insured party dare to try it. In health insurance, however, sometimes it's hard to say whether a loss has occurred. During the days of malaise in the 1930s, claims sick greatly increased. Unemployed people who make themselves as if aching to received benefits. However, pain is a matter of personal feelings and sometimes subjective as hell with no objective basis to be examined.
3. Unexpected Losses
Although estimates of losses for the Group was esensil for insurance, but the individual's own losses must be incidental or accidental. Ideally is a loss had to be outside the control of the insured. For example, the so-called "loss" that shrinkage could not be insured, the genesis of that shrinkage is not because of the unexpected. Depreciation that can be suspected. Risk of loss due to death itself can not be insured because each person will die. But who will be insured is the loss that occurs due to untimely death, because death itself is not necessarily
Article 269 of the book law of Commerce stated that coverage is void if the insured had been aware of the losses at the time of closing of the agreement.
4. Big Loss
The insured must be disaster can cause losses in such large so that the insured cannot be carrying on its own without economic pressure. We do not know the insurance against commercial disadvantage in such a tiny shoe laces to get the time, effort, and cost to the insured. An example of this is overstated, but he explains this principle. It is not economical for a person to insure losses – losses small, can easily give themselves, because the cost of insurance is not only just but also losses cost fees.
5. The Economic Cost may be
To be insured, the chance of loss (the possibility of losses) must be small. The cost of insurance policy consists of pure premiums (the amount actually needed for the payment of losses) additional fees. If the chance of loss is much above 40%, the cost of the policy would be greater than the amount to be paid by an insurance company according to the contracts. For example, an insurance company may indeed sell the insurance policy that the Rp 1 million in people aged 99 years.
But the pure premiums alone approximately Rp 980,000.00 that still need
to be added to the fees so that the total premium will be greater than
the amount of insurance. In order for the insurance premium should be interesting, much lower than the face value of the policy.
6. The Possibility of Losses Must Be taken into Account
Some of the possible losses can be determined by logic alone (e.g., the possibilities in terms of coins being thrown). Other possibilities should be determined empirically by creating a table concerning the past experience and projected that experience into the future. However, some possible cannot be determined either by logic or by experience. An example is unemployment. The occurrence of such unemployment was not given, so no one has managed to overtake a method to determine what happened in the future. That is why unemployment insurance is not sold by private insurance companies. If no statistics are available regarding the chance of loss (the possibility of loss) then there may be predicting a loss-loss with large number of 30.
7. Not Possible Harm to Many People at The Same Time
There is no one else who can afford the insurance company for insurance a type of loss that might occur against the majority of those who might be affected. life insurance policy against his bear indeed death, although each of them is definitely die eventually. Behold the insurance company took away his policyholders against death before her time. The premiums and accumulation rate of the backup is calculated in such a way so that he can pay the Bills-bills (claims) at the time of maturity without causing financial difficulties to the company if the holder of a life insurance policy all died young, an insurance company that would be the same with the downfall of the fire insurance company of its policyholders are all losing their homes because of the fires.
