Who are the main players in insurance?
The parties involved in an insurance contract
First of all, here is a quick recap of the different actors revolving around an insurance policy:
the insured: person exposed to the risk;
the beneficiary: who must receive compensation from the insurer. In the case of death insurance, the beneficiary may for example be the spouse of the insured;
the underwriter: person who signs the insurance policy.
Insurance professionals
Insurance and its products may be marketed by different players depending on the organizations you turn to. While they all have the same purpose, their mode of operation differs:
the insurer: is affiliated with a specific insurance company and aims to offer and sell the products created by the latter. If you subscribe to an insurer, this will be your direct and single point of contact, from subscription to claims management;
the insurance broker: acts as an intermediary between the insured and the insurance. He is a trader because he works with different companies, compares offers and offers you the most suitable for your situation. By putting different insurers in competition, the insurance broker obtains negotiated rates and advantageous formulas. Some brokers - like Reassure Me - are independent, that is, they do not have the right to favor one insurer over another. The quotation offered will be determined solely by your situation. In addition, the use of an independent broker such as Reassure me is 100% free for the insured: all costs are the responsibility of the insurer;
The insurance expert: there are two types, those employed in an insurance company and those independent, mandated according to the needs of the insurance companies. Each of them specializes in a specific area of insurance (health, auto, home, etc.) and has in-depth technical knowledge on the subject. It is his precise knowledge that will make it possible to analyze your profile and help you insure yourself as well as possible, in knowledge of the risks. In the event of a claim, the insurance company will also call on the insurance expert to analyze the situation and determine its resolution (amount of compensation, damage suffered, etc.).
What are the compulsory insurances?
In France, there are more than twenty different insurance products. Some are mandatory, while others are just recommended. It can be difficult to navigate, especially since certain guarantees can sometimes overlap. You will find in the table below a summary of the compulsory insurances and what the legislation imposes on you - or not - on them.
RC
For who ?
All
Mandatory or optional
Obligatory
Home Insurance
For who ?
Tenant
Mandatory or optional
Minimum RC mandatory
Home Insurance
For who ?
Owner
Mandatory or optional
Optional
Home Insurance
For who ?
Co-owner
Mandatory or optional
Obligatory
Health Insurance
For who ?
All
Mandatory or optional
Obligatory
Auto / motorcycle insurance
For who ?
Vehicle owners
Mandatory or optional
Obligatory
Damage insurance
For who ?
Renovation / Construction
Mandatory or optional
Obligatory
Borrower insurance
For who ?
Underwriter of a loan
Mandatory or optional
Mandatory for the bank
Individual health mutual
For who ?
All
Mandatory or optional
Optional
Collective health mutual
For who ?
Private employee
Mandatory or optional
Mandatory with some exceptions
School insurance
For who ?
All
Mandatory or optional
Optional
Foresight
For who ?
All
Mandatory or optional
Optional
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