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Economic Importance Of Insurable Risk

Author

Listed:
  • Hristo Draganov

    (UNWE)

  • Georgi Draganov

    (D. A. Tsenov Academy of Economics)

Abstract

The article presents insurable risk as the necessity which determines the decision of signing an insurance contract. It also outlines all relationships between the insurer and the insured which are presented as the driving force behind the motivation for using various insurance services. An emphasis is put on the fact that insurable interest is a specific concept from insurance law and cannot be identified with the concept of “interest” as it is used in everyday life. The article also discusses certain definitions and statements regarding insurable interest expressed by a number of authors, including foreign ones, who worked in this field. The authors support the idea that not only a particular insured party has an insurable risk but also the entire insurance pool.

Suggested Citation

  • Hristo Draganov & Georgi Draganov, 2018. "Economic Importance Of Insurable Risk," Business Management, D. A. Tsenov Academy of Economics, Svishtov, Bulgaria, issue 2 Year 20, pages 51-74.
    • Handle: RePEc:dat:bmngmt:y:2018:i:2:p:51-74
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    File URL: http://hdl.handle.net/10610/3901
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    More about this item

    Keywords

    insurable interest; insured – insurer relationship; insurance contract;
    All these keywords.

    JEL classification:

    • G22 - Financial Economics - - Financial Institutions and Services - - - Insurance; Insurance Companies; Actuarial Studies

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