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Glossary
The contract

Aggravation of risk

Change in declared circumstances that increases the probability or intensity of the claim. The policyholder must communicate it as soon as possible.

In practice

Expanding a warehouse, incorporating a product line or opening in a new country are aggravations even if no one calls them that. If they are not communicated and the claim occurs, the compensation is reduced in proportion to the premium paid and the one that would have been charged.

Where it is addressed

This term is covered in Gestión del programa.

Related terms

Declaration of riskInformation that the policyholder provides before contracting, responding to the insurer's questionnaire.Equity ruleAdjustment of the compensation when the premium paid does not correspond to the real risk due to an inaccurate declaration without intent.EndorsementDocument that modifies a contract in force. It forms part of the policy from its issuance.AccidentEvent of violent, sudden, external cause beyond the insured's will that causes bodily or material damage.Direct action of the injured partyRight of the person who has suffered damage to claim compensation directly from the insurer of the responsible party, without going through them.InsuredHolder of the interest exposed to the risk. May or may not coincide with the policyholder, who is the one who signs the contract and pays the premium.
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