TEMELJNI ASPEKTI UGOVORA O OSIGURANJU I REOSIGURANJU / BASIC ASPECTS OF INSURANCE AND REINSURANCE CONTRACT

Abstract

In the first part of this article, we have presented the fundamental legal aspects of the insurance contract, starting with its definition, the participants, the essential elements and the obligations of the contracting parties. Most of the explanations were based on the Law of Obligations of the Federation of Bosnia and Herzegovina and the Republika Srpska, stating that the insurance contractor, on the principles of reciprocity and solidarity, associates a certain amount in the insurance community, or the risk community (the insurer), and the community is obliged to pay the insured or a third party a compensation, or a contracted sum, or do something else, if the insured event occurs. In the second part of the article, we have presented the definition, type and contract elements of reinsurance. We have defined the reinsurance contract as a commercial legal transaction in which an insurance company, in this case as a reinsurer, is obliged to pay the reinsurer a reinsurance premium, while reinsurance is obligated to pay to the respective insurance company part of the damage that the insurance contract paid or should pay your insured. This is the relationship between two or more insurers and is not of direct interest to the insured, except that it is obliged to have high insurance values previously reported to the insurer that this, using the reinsurance payment instrument, could accept such insurance.