Insured event – is an occasion stipulated by the insurance contract or legislation that took place and upon the occurrence of which the insurer becomes obliged to pay the insurance amount (insurance payout) to the insurer, insured, or another third party. Upon the happening of an insured event, the insurance company (insurer) pays the insurer (an individual or a legal entity) a certain sum of money (insurance payment). The primary purpose of insurance is to provide insurance coverage against all sorts of dangers of individuals and legal entities.
However, we must not forget that, at present, even having completed the entire insurance procedure, one cannot be entirely sure that upon the occurrence of an insured event, compensation will be paid the insurer on time and in full.
The whole insurance procedure implies concluding an agreement, paying an insurance premium, and receiving an insurance policy. Indeed, there are frequent cases when particular unscrupulous insurance companies are ready to use every trick only to delay the payment of insurance compensation or not pay it at all.
Therefore, a timely application for qualified legal assistance will allow you to minimize the risks of not receiving insurance compensation as a result of an insured event.