CREDIT CARD INSURANCE

This paper first briefly discusses the legal nature and legal framework of the loan and credit card agreement, its specific mandatory elements, and the relationship between such agreement and the credit card insurance agreement, followed by particular aspects of a credit card, its economic importance, and widespread presence. The second part of the paper deals with the classification of this non-life insurance service, and the nature and scope of risks covered by insurance. The accessory nature of the contract for credit card insurance is pointed out. The author divides the insurance of the credit cardholders into insurance in favour of the credit card issuer and insurance in favour of the credit cardholder, and then analyses the specifics of insurance in the event of unemployment and accident suffered by the insured person. The author concludes that the insurance of credit cardholders is carried out exclusively using the method of “named risks”, whereas Serbian insurance terms and conditions have deficiencies in terms of defining covered and excluded risks, while there are circumstances on the foreign market for which no coverage is provided.

Keywords: loan, credit card, insurance, risks, insurance terms and conditions, COVID-19