Inpol Insurance Broker, JSC is a Czech corporation providing insurance services in the area of industrial and business risks.

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Services

Technical Dictionary

The Insurer
The insurer is an insurance company which operates in our country based on a permit issued by the Ministry of Finance of the Czech Republic according to the Czech law regarding the insurance industry and all related laws.

The Insurant
The insurant is a subject - either a legal or physical entity - who has concluded an insurance contract with the insurer, has the right to modify or withdraw from the contract and has the obligation to pay insurance premiums.

The Insured
The insured is a subject on whose behalf (property, liability…) an insurance contract is concluded and who has the right to receive insurance settlements resulting from an insured incident.

All risks
The insuring of property against all risks with the exception of those that are contained in the exclusions.

Kasco
This is the designation for accident insurance for motor vehicles.

Cargo
This is the designation for insurance of transportation of consignments.

Flotilla
This is the fleet of vehicles that is the property of one client and which is covered under one general insurance contract. The client pays only the actual insurance premium that is used - the insurance company returns the portion of the premium which was not used during the course of the year due to the removal of a vehicle from the insurance contract as a result of its sale and so forth. Both accident insurance and liability insurance for the operation of motor vehicles are included.

D&O
This is the designation for liability insurance for damages resulting from the actions of members of the Board of Directors and members of the Supervisory Board.

Conflagration
This is a fire which originates outside of an area designated for burning or has quit such an area and is spreading of its own volition.

Explosion
This is a sudden destructive manifestation of intense pressure arising from the expansion of gases or vapors.

Lightning strike
This is the direct passage of a bolt of lightning to an insured item.

Deluge
This is the creation of a continuous body of water which, for a certain time, stands in or streams through an insured location.

Flood
This is the submerging of larger or smaller territorial units under water that has overflowed the banks of waterways or a body of water (reservoir, dam, lake, etc.)

Gale
This is the dynamic activity of air masses moving at a speed of at least 20.8 meters per second.

An Insurable natural danger
Includes fire, fire extinguishment, explosion, lightning strike, plane collision or crash with the crew aboard, a portion thereof or its cargo, deluge, flood, gales, hailstorm, mudslide, landslide, avalanche and/or the collapse of a tree, tower or other items.

Damage to property
This is a change in the condition of items which can either be repaired, or, if it cannot be repaired, the item may still be used to satisfy its original purpose.

Destruction of property
This is a change in the condition of an item such that the item cannot be repaired and due to which the item can no longer be used to satisfy its original purpose.

Missing items
This is when the insured has lost, not of his/her own free will, the possibility of disposing of an item or a part thereof.

The History of the Insurance Indutry

The existence of the insurance industry on the territory of what is now the Czech Republic has been documented since the end of the seventeenth century. Among the earliest types of "insurance" was insurance against fire damage. Starting in the Middle Ages, cities gradually began developing firm rules and conditions for regular collection of dues from various guilds, which could then be drawn upon in the event of damage occurring as a result of fire.

Preparations for the establishment of the first private mutual insurance company in Bohemia were begun as early as 1823 with the support of the highest burgrave - the Count of Kolowrat. The first mutual insurance company was then established in Bohemia in 1827. The development and establishment of other insurance companies did not become became apparent until the second half of the nineteenth century as a result of the rapid growth of business activities. Among the most significant institutions of that period were the Asekurační Spolek Cukrovarníků Praha, Pražská Městská Pojišťovna, Vzájemná Pojišťovací Banka Slávie Pojišťovna Praha and První Česká Zajišťovací Banka.

Until 1945, more than 700 insurance companies operated in the former Czechoslovakia. The nationalization of the private insurance industry came about as a result of the October Decree in 1945. By 1947, the number of insurance companies was limited to 5 and effective January 1, 1948 one insurance establishment was created - Československá pojišťovna n.p. - which was headquartered in Prague. Then in 1958, with the integration of the První České Zajišťovací Banky, the Státní Pojišťovna was established, an insurance and reinsurance establishment which existed in Czechoslovakia in its monopolistic form until 1969, at which time it was divided into two sections - the Česká Státní Pojišťovna in Prague and the Česká Státní Pojišťovna in Bratislava - both managed by the Ministry of Finance. The break-up of their monopolistic position and the opening-up of the market did not occur until more than twenty years later, due to the changes in the political situation in our country after 1989.



Important Certificates

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