THE EVOLUTION OF INSURANCE MARKET IN ROMANIA

• Main Authors: Florea Ianc Maria Mirabela, Buşan Gabriela
• Format: Article
• Language: English
• Published: Academica Brâncuşi 2013-04-01
• Series: Analele Universităţii Constantin Brâncuşi din Târgu Jiu : Seria Economie
• Subjects: insurance market; evolution; capital; insurance companies; written premiums
• Online Access: http://www.utgjiu.ro/revista/ec/pdf/2013-02/23_Florea,%20Busan.pdf

Insurance is the economic activity that individuals and businesses are threatened by some danger that, if it would cause damage to health or even life or they can destroy property, agree to remove the financial effects of possible losses transfer to specialized companies in exchange for a sum of money. The specialized companies agree to take over and compensate the financial effects of production risk are called companies or insurance companies. The transfer of the possible financial losses from risk bearers insurance companies called insurance. The insurance and reinsurance operations are conducted in a regulated framework that brings together supply and demand of insurance, insurance market framework known. The insurance market is performing most specific contracts.