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Insurance concepts and terms
Insurance concepts letter G

GOODWILL - a complex of measures aimed at increasing a company's profit without a corresponding increase in active operations, including the use of best management decisions, a dominant position in the insurance services market, and new technologies.

 

GROUP INSURANCE - insurance of a group of individuals with similar interests. A group policy is issued to an employer or another representative of the group, and each member of the group receives a certificate confirming their insurance coverage.

 

GREEN CARD - the name of an international system of agreements and an insurance certificate for civil liability insurance of owners of land vehicles traveling to countries that are members of this system. It is named after the color and form of the policy. Established in 1949, the International Green Card System currently includes over 40 countries in Europe, Asia, and Africa. Ukraine became a member of the International Green Card System in June 1997.

 

GROSS LOSS - a loss that triggers the payment of the entire insurance amount. GROSS .

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