Essential Logistics Insurance and Trade Documentation
Classified in Philosophy and ethics
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Key Characteristics of Insurance Contracts
Insurance is bilateral and identifies both goods and people. There is a payment in exchange for covering risks, and it is subrogatory. It is formal in nature.
Parties Involved in the Policy
- Insurer
- Insured
- Policyholder
- Beneficiary
Formal Aspects and Policy Content
It is mandatory that the contract is in writing according to regulations. The policy must be drafted in the official languages of Spain. The content must include:
- Name, surname, or company name of the contracting parties, address, and assignment of the insured and the beneficiary.
- The concept in which it is insured.
- Nature of the risk covered.
- Designation of the insured object and its location.
- Sum insured and scope of coverage.
- Amount, surcharge, and