Loss of risk
The risk elimination is a technical term from the insurance industry and is well known by the name risk elimination or risk elimination. This occurs when an insured risk or risk is completely and permanently eliminated. As a result, a contractually concluded insurance cover is unnecessary and the insurance therefore expires.
The loss of risk can have various reasons. In the field of car insurance , the risk ceases to exist when the insured vehicle is sold or has suffered a total loss as a result of an accident . In the case of household contents insurance , one speaks of risk cessation if the entire household contents are dissolved, for example because the resident has died or has to be housed in a home.
Web links
- Article at autoversicherung-berechnen.de
