Insurance is the assumption of risks of one party called the insured by another party called the insurance through an insurance contract. Once the risk occurs, the insured is given compensation for any loss or damage suffered, as agreed upon by the contract. Insurance law in Estonia is known as the Insurance Activities Act. This is the law which regulates and supervises insurance activities and mediation in the country as well as those businesses that are engaged in such activities. The three kinds of insurance in Estonia are life, non-life, and reinsurance. Life insurance covers life and health of individuals while non-life insurance covers properties, rights, and obligations. Reinsurance is when the insurer gets insured for its obligations towards the person it insured. Basically, it is insuring the insurance it provided for its clients. Our law firm in Estonia is familiar with the rules and regulations prescribed by the Insurance Activities Act.
This is covered by the Health Insurance Act of 2002. Health insurance covers the costs for prevention and treatment of diseases for insured persons, as well as the purchase of medicines and medical devices. When the insured person is unable to work, health insurance also provides for compensation during the time of temporary incapacity. This type of insurance is compulsory which means that a person is obliged to acquire one. The persons qualified for health insurance are those that are permanent residents of Estonia or those that are permitted to live there temporarily. Our Estonian lawyers will help you claim your rights under the Health Insurance Act of 2002.
You can avail of this insurance when you become unemployed, laid-off, or your employer becomes insolvent. Unemployment insurance in Estonia is governed by the Unemployment Insurance Act of 2001, which created the Estonian Unemployment Insurance Fund. This is the entity that is in charge in performing the obligations as provided under the law which mainly involve the giving or labor market services, payment of benefits, and the giving of compensation for those insured persons who are looking for work. Our Estonian law firm has represented many clients for claims under unemployment insurance.
The Motor Insurance Act of 2014 governs this type of insurance. Civil liabilities coming from damages as a result of the use of motor vehicles are covered under this law. Motor vehicle insurance in Estonia is a compulsory insurance which means that a person cannot use a motor vehicle unless such insurance is already obtained.
Our lawyers in Estonia can provide you with more information on the insurance legislation applicable in this country. Please do not hesitate to contact us.
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