Statutory social insurance is the most important institution of the social security system in Germany. It is a system in which the insured risks (such as illness, maternity, need for long-term care, accidents at work, occupational diseases, unemployment, reduced earning capacity and death) are borne jointly by all insured persons. It is not property insurance.
Social insurance (Sozialversicherung, SV) in Germany consists of five branches:
- Arbeitslosenversicherung (ALV) Unemployment insurance
- Gesetzliche Krankenversicherung (GKV) Statutory health insurance
- Pflegeversicherung (PV) Long-term care insurance
- Deutsche Rentenversicherung (DRV) German Pension Insurance
- Gesetzliche Unfallversicherung (GUV) Statutory accident insurance
