Publication at Faculty of Mathematics and Physics, Faculty of Law |
2009
Abstract
The insurance business can be defined as a specific branch of the economy which ensures the financial elimination of risks which affect activities of people. The fundamental task and purpose of the insurance is to create and distribute, via insurance activities, special financial reserves and funds, and to use them pursuant to set rules for covering insurance needs arising from accidental events depending on the effects of insured risks.
The carrying out of insurance and reinsurance activities is again, since 1991, the subject of supervision. The body which performs the supervising function in the insurance business has been the Czech National Bank since 1 April 2006