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Glossary
The contract

Equity rule

Adjustment of the compensation when the premium paid does not correspond to the real risk due to an inaccurate declaration without intent.

In practice

The compensation is reduced in the same proportion as the premium charged compared to what would have been charged. It is the silent consequence of not updating the declared activity when the company changes its business.

Related terms

Declaration of riskInformation that the policyholder provides before contracting, responding to the insurer's questionnaire.Aggravation of riskChange in declared circumstances that increases the probability or intensity of the claim. The policyholder must communicate it as soon as possible.Proportional ruleMechanism by which, if the insured capital is less than the value of the interest, the compensation is reduced in the same proportion.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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