|The insurance contract is an agreement by which the insurer undertakes to pay the insured a sum of money repairing the damage suffered in the event of the occurrence of a defined claim, or constituting a pecuniary benefit, in exchange for the payment of a sum paid either initially or periodically.
It is governed by the general principles of the Civil Code and by the specific regulations provided for by the Insurance Code (or by the Mutual Code if it has been concluded by a mutual society.
The insurance contract is consensual, the conclusion of which therefore results from the agreement of wills.
It is a random contract , where the risks are assumed by the insurer according to probabilities in accordance with the laws of statistics,
It is a synallagmatic contract.
This is a membership contract, the stipulations of which are defined by the insurer, generally with general conditions and special conditions. It is regulated since it is subject to the Insurance Code. It is a contract against payment, since it is taken out in return for a premium, and successive because it is spread over time.
The contract must be the subject of pre-contractual information defined by the Insurance Code. It is a consensual contract which is noted in a document called “police”.
The risk that is covered is defined by the parties. The risk must be beyond the control of the parties. Certain events, impossible or depending on the will of the insured are not insurable (except suicide after a minimum period).
The risks are either risks of damage to persons (risk of bodily harm weighing on personal integrity or life) or damage risks (property insurance and liability insurance).
The risk can also be a credit risk, namely the insolvency of the debtor.
Life insurance has in fact the character of a savings contract, favored by the privileged tax status of the indemnity.
The insurance contract is individual when it is taken out by an insured) or collective (taken out by a third party to cover a group of insureds), intuitu personae (relating to a person) or not (property insurance),
The contract is either under private law or under public law, if it is concluded within the framework of a public contract). Depending on the quality of the parties it is civil, commercial or mixed