Article 32. Parties to the Insurance Contract

Insurers, insurants, insured persons, beneficiaries and relevant parties may act as parties to the insurance contract.

An insurant — a legal entity or a capable individual who concludes an insurance contract with the insurer and pays the insurance premium (insurance contributions).

Insurants may conclude insurance contracts with insurers in respect of third parties (insured persons) only with their consent, except in cases provided for by the legislation.

An insured person — an individual who participates in insurance and whose property interests are the object of insurance protection.

The insured person may also be an insurant if it concludes an insurance contract in respect of itself and pays the accrued insurance premium.

A beneficiary — an individual or a legal entity appointed by the insurant (insured person) as a recipient of the insurance indemnity or insurance benefit.

The beneficiary shall have the right to receive information about the insurance contract from the insurant, the insured person or the insurer.