INSURANCE BROKERAGE DIVISION

Assessoria Ribas Àlvarez  Corredoria d’Assegurances, S.L. is part of Grup Ribas-Àlvarez, which was created in 2001 as a risk consultancy and insurance brokerage firm with the purpose of creating solutions that fulfil the requirements of businesses and individuals, thus contributing to our clients’ peace of mind and their success.

Assessoria Ribas Àlvarez  Corredoria d’Assegurances, S.L. has contracted civil liability and surety insurance, in accordance with Act 26/2006, of 17 July, on Private Insurance and Reinsurance Mediation, adapted to the European Directive on Insurance Mediation and registered under number D.G.P.F.A. J271GC. (MANDATORY TEXT)

We divide personal insurance into three categories:

a) Term life insurance

The basic feature of term life insurance policies is the payment of an amount agreed in the contract that is dependent on whether or not the insured person dies during the term.
Death due to any cause → Death due to any cause is understood to be natural or sudden death
Natural death. The result of a progressive weakening of vital functions
Sudden death. Defined as an unexpected fatal event occurring in an apparently healthy subject.
Absolute permanent disability → For the purposes of this guarantee, absolute permanent disability is understood to be an irreversible physical condition as the result of an accident or illness that permanently disqualifies a worker from any employment relationship or professional activity.

b) Endowment policy

The market currently offers a high number of varied savings insurance products that are classified according to the type.
People have always been worried about their retirement and the concern will probably increase at a global level. Spanish Social Security pensions tend to be lower than salaries. When people should be able to enjoy the peace of mind associated to this stage of life, they start worrying about maintaining their financial stability once they have stopped working.
Different ways to capitalise with savings insurance
We divide the insurance into two large blocks:

For individuals

Retirement plans

Individual systematic saving plans (PIES)

Individual pension schemes (PPI)

Insured pension schemes (PPA)

Long-term individual savings insurance (SIALP)

For bussinesses

Group savings insurance

Mutual provident societies

Employers' social provision schemes (PPSE)

Employment pension schemes

Long-term care insurance

Temporary loyalty savings insurance (STAF)

We also include investment funds in savings insurance policies. We divide them into guaranteed investment funds and non-guaranteed investment funds

c) Accident insurance

Accident insurance policies cover risks that affect people’s physical well-being, as a result of damage produced by an unintentional act that was sudden external and violent, which causes disability or even death.
They can be classified into:

  • Accidental death
  • Disability due to accident
  • Healthcare due to accident

d) Health or sickness insurance

The insured risk is the insured person’s illness (and that of their family if a family policy has been contracted). In the event of an illness duly certified by a doctor that comes under the agreed terms and conditions, the payment of certain sums and expenses associated to medical and pharmaceutical treatment is guaranteed.

Health and sickness insurance can be divided into two groups:

Healthcare

Healthcare insurance covers the insured person's risk of illness or accident, providing them with medical, surgical and pharmaceutical services, as well as admission to clinics and healthcare centres, within the specialities and limits stipulated in the policy.

Sick leave subsidy

Sick leave insurance covers a daily compensation for temporary or total disability. It guarantees a daily payment throughout the time the insured person is unable to work, they are in hospital or need to stay at home (maximum 547 days) as the consequence of an illness or accident.

This category includes insurance that has the main purpose to repair the insured person’s loss of property due to an accident.

Damage insurance is divided into two large groups:

Insurance of things

The purpose of these policies is to compensate the insured person for material damages directly suffered by part of their property.

Civil liability insurance

The purpose of these policies is to guarantee the insured person is protected from any civil liability for acts they have committed that involve third parties, thus protecting their property.

Fire insurance

Fire insurance guarantees the insured person that they will be compensated for damages in the event a fire affects property specified in the policy, or the repair or replacement of the broken parts.

Car insurance

Based on providing compensation for accidents caused by driving motor vehicles.
Due to their importance, it is worth noting the following: moped and scooter insurance, motorcycle insurance, private car insurance, van insurance, lorry insurance, industrial vehicle insurance.

Engineering insurance

Engineering insurance policies form part of a group of coverage modalities that consider certain risks deriving from the performance, assembly or testing of machinery or those inherent to works or the construction of buildings.
Due to their importance, it is worth noting the following: machinery insurance, decennial liability, triennial liability, construction insurance, erection all risks insurance.

Credit and surety insurance

This group includes two different kinds of insurance: loan and surety.

Credit insurance

Credit insurance guarantees the insured person that, in the event their debtors become insolvent, they will receive payment of any credits they have in their favour; always taking into account the limits and sums agreed in the policy.

Surety insurance

In the case of surety insurance, in the event the policyholder fails to fulfil their duties, the insurance company undertakes to compensate the insured person for economic losses within the established limits.

Insurance for diverse pecuniary losses

In the case of insurance for diverse pecuniary losses, the insurance company compensates the insured person for the loss of the economic return they would have received from an action or activity if the accident described in the contract had not occurred.

Burglary insurance

In the case of burglary insurance, the insurance company compensates the insured person for damages suffered as a consequence of the disappearance, destruction or deterioration of the insured items as a result of a burglary or attempted burglary.

Transport insurance

The insurance company undertakes to pay certain compensation as a consequence of damage caused while goods were being transported.

Multi-risk insurance

With multi-risk insurance, the coverage of series of risks that are relevant for the insured person are guaranteed in a single contract.
Due to their importance, it is worth noting the following: home insurance, business insurance, office insurance, property owners' insurance, SMEs.

Civil liability insurance

This insurance covers non-contractual civil liability incurred by virtue of Articles 1902 et seq. of the Civil Code.
CIVIL CODE → CHAPTER II → On the obligations arising from fault or negligence.

Article 1.902
The person who, as a result of an action or omission, causes damage to another by their fault or negligence shall be obliged to repair the damage caused.

They can be classified into the following groups:

1. General civil liability:

General civil liability protects the insured person's property in assuming the compensations that could correspond to them as a consequence of damages they cause to third parties during the development of their activity. Said compensation will be within the limits accepted in the contract.

2. Professional liability

Professional liability is addressed to all the professionals that are involved in the constructive process who exercise their activity in an independent manner, regardless of whether they are a legal entity or an individual.
This policy covers the pecuniary consequences that can be claimed from the insured person in the exercise of their professional activity.

3. Directors and officers liability insurance (D&O)

D&O liability insurance is addressed to board members, officers and all the appointed directors in the company.
A D&O insurance policy covers the losses and defence costs arising from claims covered by the policy for presumed improper acts performed by the company's senior officers.

Environmental liability is added to civil liability and is required by the competent public authority in order to cover the expense of material and personal damage, as well as damages caused by pollution.

Service provision insurance
Service provision insurance includes the branches of the insuring activity in which the insurance company undertakes to provide a service to the insured party; on occasions it also includes the obligation to award financial compensation.
These policies mainly include:

  • Legal defence policies
  • Travel assistance policies
  • Funeral plans

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