About This Book
This book of Isabella Pecchio Brillembourg, proposes a different interpretation of the indemnity principle, analyses how inflation can impact insurance contracts, proving how the very essence of insurance can be blurred ("putting the safe instead of the unsafe"), and how it seems that underinsurance has become –in practice– the rule and not an exception in certain insurances against damages. This, in the end affects insurances as a whole and as a legal institution, in particular, and the Venezuelan insurance market, in general. Specifically, the legal-economic situation that is generated in an inflationary economy is studied when insurance contracts against damages are agreed exclusively in bolivars (or in currencies affected by inflation), which could generate an involuntary economic imbalance of the contract due to the standard application of the indemnity principle that governs insurance matters.
