Insurance in Israel


Israel, AsiaIsrael, Asia. אסיה – ישראל – לוגו חברות הביטוח בעולם. The graphic mark of a company is synonymous with its brand. In insurance, a logo is immediately recognizable and enables the customer to associate the company with the useful qualities such as confidence, the right price, and a lot of other vital questions about the task of finding the best insurance.

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Insurance contract

1. An insurance contract is a contract between an insurer and an insured person, which obligates the insurer ‑ in consideration of insurance premiums ‑ to pay insurance benefits to the beneficiary upon the occurrence of the insured event.


2. (a) When an insurance contract has been concluded, the insurer shall deliver to the insured person a document signed by the insurer, specifying the parties’ rights and obligations (hereafter: policy), unless in that category of insurance it is customary not to issue a policy.

(b) As long as the policy has not been delivered to the insured person, the conditions customary with that insurer in that category of insurance ‑ as submitted to the Commissioner of Insurance under section 16 of the Insurance Business (Control) Law 5711‑1951, or as submitted or permitted, as the case may be, under section 40 of the said Law ‑ shall be deemed to have been agreed between the parties, unless a deviation from those conditions was agreed between the parties.

Must emphasize limitations

3. Any condition or restriction on the insurer’s liability or on its extent shall be specified in the policy near the subject to which it relates, or shall be stated therein with special prominence; the insurer may not rely on a condition or restriction, in respect of which this provision did not comply with.

Attachments to the policy

4. If the contract refers to a written reply by the insured person to a question he was asked by the insurer, then a copy of the reply shall be attached to the policy; the insurer may not rely on a reply, of which a copy is not attached to the contract.

Delivery of transcripts

5. The insurer shall deliver to the insured person and to the beneficiary, at the insured person’s request and expense, transcripts of the policy and of the documents attached to it.

Obligation of disclosure

6. (a) If the insurer asked the insured person before conclusion of the contract ‑ either on the insurance form or otherwise ‑ a question on a point that is likely to affect the willingness of a reasonable insurer to conclude the contract at all or to conclude it on the terms contained in it (hereafter: material point), then the insured person shall give a complete and frank answer in writing.

(b) A sweeping question, which covers various matters without differentiating between them, does not require an aforesaid reply unless it is reasonable when the contract is concluded.

(c) Concealment with fraudulent intent by the insured person, of anything he knows to be a material point, shall be treated like a reply that is not complete and not frank.

Consequence of nondisclosure

7. (a) If the reply to a question on a material point is incomplete and not frank, then the insurer may ‑ within 30 days of the day on which he learned of it and as long as the insured event has not occurred – cancel the contract by written notice to the insured person.

(b) If the insurer cancels the contract by virtue of this section, then the insured person is entitled to the refund of insurance premiums paid by him for the period after the cancellation, less the insurer’s expenses, unless the insured person acted with fraudulent intent.

(c) If the insured event occurred before the contract was canceled by virtue of this section, then the insurer is only liable to insurance benefits reduced in the proportion that corresponds to the ratio between the insurance benefits payable according to his common practice in accordance with the true state of affairs, and between the agreed insurance premiums, and he is completely free of obligation in each of the following cases:

(1) The reply was given with fraudulent intent;

(2) A reasonable insurer would not have entered into the contract, even with higher premiums, had he known the true situation; in this case, the insured person is entitled to a refund of premiums paid by him for the period after the insured event occurred, less the insurer’s expenses.

Denial of remedies

8. In each of the following cases, the insurer is not entitled to the remedies said in section 7, unless the reply which was not complete or not frank was given with fraudulent intent:

(1) He knew or should have known the true situation when the contract was concluded, or he caused the reply not to be complete and frank;

(2) The fact, about which the reply was incomplete and not frank, ceased to exist before the insured event occurred, or did not affect its occurrence, the insurer’s liability or its extent.

Insurance period

9. (a) Unless agreed otherwise, the period of insurance begins when the contract is concluded and it ends at midnight at the end of its last day.

(b) If the period of insurance was agreed and if no later than 30 days before the end of the period the insured person proposed to the insurer in writing to extend the insurance for a period specified in the proposal, then the insurer is deemed to have agreed to the proposal unless he notified the insured person in writing ‑ within 15 days after the proposal was delivered ‑ of his refusal.

(c) If it was agreed that the insurance is extended automatically at the end of the agreed period, then the insurance shall be extended each time for a period equal in length to the agreed period.

(d) If no insurance period was agreed upon, then each party may cancel the insurance at any time by written notice to the other party; the insured person is entitled to the refund of premiums paid by him for the period after the cancellation of the insurance.

Cancellation of contract

10 If one of the parties cancelled the contract under its terms or under this Law, then the contract lapses 15 days after the day on which the notice of cancellation was given to the other party.   

  From Israel Finance Ministry

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