Lecture 1
Insurance: concept, essence, functions
Insurance is a relationship to protect the interests of legal entities and individuals of the Russian Federation, constituent entities of the Russian Federation and municipalities in the event of certain insured events at the expense of funds formed by insurers from paid insurance premiums.
An insured event is an event that has occurred, provided for by an insurance contract or by law, upon the occurrence of which the insurer becomes obligated to make an insurance payment to the policyholder or the insured person (benefit to the purchaser) or other third parties.
When insuring, there must be two parties: the insurer and the policyholder. Insurers ensure the accumulation of insurance premiums and payments to policyholders in the event of damage to the insured property. At the same time, insurance premiums cannot be considered as profit of insurance companies, because Insurance reserves are formed from contributions, from which insurance compensation is paid.
An insurance fund is characterized by repayment of funds, since the number of contributions for each period of time is greater than the number of payments. In modern economic practice in developed countries, reserve funds of insurance companies are the second most important credit resource of the economy after bank deposits.
Insurance also serves as a stimulus for business activity, providing firms with the opportunity to invest in production those funds that would have to be used to form their own reserve fund to cover possible losses.
Insurance covers financial risks (loss of a certain amount of funds), as well as pure risks arising in cases where only unfavorable and neutral events are possible.
In a market economy, insurance acts as a means of protecting the property interests of legal entities and individuals, on the one hand, and as a commercial activity that generates income, on the other hand.
In terms of its economic content, insurance is fundamentally different from finance and loans. The economic category “insurance” includes the formation of a special fund at the expense of contributions from legal entities and individuals, its use for compensation of damage and assistance to citizens in the event of insured events.
Insurance as an economic category is characterized by the following features:
1. closed redistribution relations between insurance participants, associated with the distribution of the amount of damage between all participants;
2. formation of a target insurance fund through payments from policyholders and subsequent insurance payments to policyholders upon the occurrence of insured events;
3. dependence of the amount of the insurance premium on the number of participants in the creation of the insurance fund;
4. making a profit both from the insurance activity itself and from investment activity.
A feature of insurance that brings it closer to lending is the repayment of funds from the insurance fund. Just as a loan ensures repayment of funds, it also life insurance characterized by repayment of funds, because b O Most of the contributions are refunded. For other types of insurance, compensation payments are made only upon the occurrence of an insured event. Thus, insurance enters into monetary relations, secures them with legal documents and has its own characteristic features, determined by the signs (see above).
The specificity of insurance as an economic category is expressed in:
- the random nature of the occurrence of a certain event and the amount of damage caused by this event;
- probabilistic assessment of possible damage and calculation of insurance rates, with the help of which insurance funds are formed;
- uneven distribution of insurance premiums between interested parties.
The fundamental principle of organizing the insurance business– this is the tendency of insurance to concentrate the funds of the insurance fund.
The main functions inherent in insurance include:
1. risky (the main one, since the presence of risk contributes to the emergence of insurance relations);
2. preventive;
3. savings;
4. control.
As part of the risk function, the monetary form of value is redistributed among insurance participants.
The preventive function is aimed at financing, using part of the insurance fund, measures to reduce the insurance risk.
Saving money with the help of survival insurance is associated with the need for insurance protection for the achieved family wealth. Thus, insurance can also perform a savings function.
The control function of insurance lies in the strictly targeted formation and use of insurance fund funds.
Currently, social insurance and pensions are widely developed, aimed at insurance protection in case of illness and disability.

Lecture 2
Insurance classification
Insurance is classified according to the objects of insurance and the type of danger. Insurance by object is generally accepted and is divided into insurance by industry, sub-industry and type.
Insurance by type of hazard is used only in property insurance. The type of insurance is the insurance of homogeneous objects against their characteristic dangers.
Types of insurance:
1. medical;
2. state property, property of citizens and legal entities;
3. agricultural insurance;
4. responsibility of borrowers for non-repayment of loans;
5. business risks,
6. financial risks,
7. civil liability,
8. means of transport and cargo;
9. from accidents and illnesses;
10. life and pensions.
According to the form of ownership, insurance organizations are divided into:
- state;
- non-state;
- selling their services on the domestic market, foreign market and mixed market in the field of compulsory and voluntary insurance.
According to the forms of organization, insurance can be:
1. state, when the state acts as an insurer;
2. joint-stock, where the insurer is private capital in the form of various companies with authorized capital;
3. mutual (mutual insurance company), when non-state organizational forms are created by individuals or legal entities on a shared basis and Not for commercial purposes, but for the purpose of social protection of their property interests;
4. medical (this organizational form of insurance activity is intended for social protection of the population).
The fundamental thing in the insurance market is the insurance object, which is divided into categories:
A. having value;
b. without value.
Depending on the objects of insurance, insurance sectors are distinguished:
1. personal insurance:
- life insurance (mixed or linked life insurance; supplementary pension insurance; survival insurance; annuity insurance; insurance in case of disability and death; insurance for children and elderly parents; insurance for marriage; insurance for women in case of childbirth ; reproductive life insurance [insurance protection for women in case of complications of organs that ensure the performance of reproductive functions]; pension capitalization insurance; insurance against AIDS and sexually transmitted diseases; pregnancy insurance; insurance against alcoholism and divorce; insurance against unforeseen circumstances; insurance against criminal acts of third parties persons; insurance of investment investments; insurance of children's boarding schools from 1 year to 16 years). Life insurance contracts are concluded for a period of at least 1 year;
- insurance against accidents and illnesses (insurance for tourists and travelers; insurance for athletes; insurance for children and schoolchildren; insurance for illness up to 4 months; group accident insurance for tourists; insurance against hunting accidents; group illness insurance; expense insurance in case of a certain disease or infection; insurance for loss of income due to illness). Accident and illness insurance is a set of types of personal insurance that provide for the insurer's obligations for insurance payments in a fixed amount, either full compensation or partial compensation, for additional expenses of the insured caused by the occurrence of an insured event.
- medical insurance (insurance of general medical expenses; insurance of medical expenses when traveling abroad (tourists); insurance of expenses in the event of a certain disease or surgical operation; insurance of expenses in the event of a medical examination; insurance of dental expenses; insurance of daily expenses while in hospital; insurance outpatient care; insurance for diagnosing diseases; insurance for other medical expenses with the exception of compulsory medical insurance). Health insurance is a set of types of insurance that provide for the insurer's obligations to make insurance payments in the amount of partial or full compensation for additional expenses of the insured caused by the insured's application to medical institutions for medical services included in the health insurance program;
2. property insurance (insurance of ground transport; insurance of air transport; insurance of water transport; cargo insurance; insurance of other types of property except those listed [insurance of public housing; insurance of property leased; insurance of housing and garden plots; insurance electronic equipment, etc.]; insurance of buildings of various religious organizations transferred for use by religious organizations, but owned by the state). The object of property insurance is the property interests of the person with whom an agreement has been concluded related to the ownership, disposal and use of property;
3. insurance of financial risks (insurance of business, commercial, exchange and currency risks; insurance in case of possible loss of expected profits; insurance of non-fulfillment of contracts by product suppliers or, conversely, non-demand of products by consumers; insurance of the risk of loan non-payment; insurance of guarantees). Financial risk insurance is a set of types of insurance that provide for the insurer's responsibilities for insurance payments caused by events such as production stoppages or reductions in production volumes, for individuals - loss of work, bankruptcy and legal expenses;
4. liability insurance – liability to third individuals or legal entities (debt insurance and insurance in case of damages).

Lecture 3
Insurance forms
Insurance services can be provided on mandatory or voluntary terms. Accordingly, there can be 2 forms of insurance:
- mandatory;
- voluntary.
Voluntary insurance is carried out by force of law and on a voluntary basis, i.e. carried out on the basis of an agreement between the policyholder and the insurer. The rules of voluntary insurance, defining the general conditions and procedure for its implementation, are established by the insurer independently in accordance with the legislation regulating insurance activities. At the same time, the law determines the general conditions of insurance, and the specific conditions for its implementation are determined by the agreement concluded between the policyholder and the insurer. The voluntary form of insurance is not compulsory and provides policyholders with the opportunity to choose services on the insurance market. Voluntary insurance is selective in nature, since not all potential policyholders are willing or able to participate in it, and for certain categories of persons the law establishes restrictions.
Voluntary insurance is based on a number of principles:
1. the principle of voluntary participation in insurance;
2. the principle of selective coverage of voluntary insurance for individuals and legal entities;
3. the principle of limiting the period of voluntary insurance, which is determined by the fact that the beginning and end of the insurance period are separately stipulated in the contract;
4. the principle of paying a one-time insurance premium or periodic insurance premiums.
Compulsory insurance is insurance carried out by virtue of laws from the standpoint of the public purpose of conformity. This form of insurance differs from voluntary insurance in that the potential policyholder has a statutory obligation to insure. When carrying out compulsory insurance, there is an unlimited time insurance liability for objects established by law, which occurs automatically when an insured event occurs.
International law links compulsory insurance with the need to protect the interests of third parties.
Compulsory insurance is based on certain principles:

Lecture 4
1. principle of obligation;
2. principle of continuous coverage (all objects);
3. principle of automaticity (the policyholder is not obliged to declare to the insurance authority the acquisition of ownership of the object subject to insurance; this property is automatically included in the scope of insurance);
4. the principle of compulsory insurance, regardless of the insurance payments made (if the policyholder does not pay the insurance premium on time, the premium will be collected from him in court);
5. the principle of perpetuity of compulsory insurance (the object of compulsory insurance is insured throughout its entire service life);
6. the principle of standardization of insurance coverage (in order to simplify the insurance assessment and the procedure for paying insurance compensation, insurance coverage standards are established as a percentage of the insurance assessment or in rubles for a given area per object).

Classification of insurance by types of insurance compensation
There are 2 types of insurance compensation:
- damage insurance. The insurance company is obliged to compensate the policyholder for the actual amount of damage to the extent that it is covered by the insurance amount. The insured amount must not exceed the actual value of the insured property. When insuring damage, only proven amounts of damage are subject to compensation;
- insurance amount occurs in life insurance, accident and health insurance, and sometimes in health insurance. When an insured event occurs, the policyholder pays the policyholder a predetermined amount - the insurance premium.

Balance sheet classification of insurance
The balance sheet classification of insurance is used mainly for insurers represented by business organizations; in particular, insurance of assets, liabilities and income is subject to insurance.
The basis of asset insurance is insurance material assets(fixed assets, inventories, work in progress, finished products and goods and insurance of possible losses on debt obligations).
Liability insurance insures damage that arises from passive obligations, and in particular credit insurance, insurance of legally defined obligations of a business organization and insurance of damage that occurs in the event of rejected claims.

Classification of insurance by type of danger
Classification of insurance by type of hazard is used to develop special methods for determining damage and insurance compensation. It includes 4 types of insurance:
1. “fire” insurance (everything that can be exposed to fire) and insurance against other natural disasters;
2. insurance of various agricultural crops, shrubs and fruit trees against drought, frost, hail, rain, fire and other natural disasters;
3. insurance of farm animals in case of their death or forced slaughter.
4. insurance of vehicles against accidents, theft and other dangers.

I. Risk – fire, lightning strike, explosion, fall of manned aircraft or their parts onto the insured property. “Fire” insurance excludes damage caused by military actions, internal unrest in the country, earthquakes, intentional actions or negligence of the insured.
II. Covers crop production, because this industry is the most prone to natural disasters. The objects of insurance are the property interests of agricultural producers associated with the production process of growing crops (agricultural crops) and perennial plantings, as well as with the ownership and disposal of perennial plantings.
III. The following animals belonging to both enterprises and individuals are usually insured under a farm animal insurance contract:
- cattle and pigs, up to 6 months old;
- fur-bearing animals aged from 6 months;
- horses and deer aged from 1 to 15 years.
Risks: illnesses and accidents.
IV. Vehicle insurance – vehicles subject to registration with the State Traffic Safety Inspectorate and objects water transport, registered in the prescribed manner. The objects of insurance are everything that moves, incl. motor, sailing and rowing boats, yachts and cutters. Risks: accidents, theft, fires, etc.

Reinsurance
Reinsurance is a system of economic relations, according to which the insurer, accepting risks for insurance, transfers part of the liability for them on agreed terms to other insurers. The purpose of reinsurance is to create a balanced insurance portfolio and ensure the financial stability of insurance operations.
The relationship between the reinsurer and the reinsurer arises by virtue of a reinsurance agreement, which defines:
- method of reinsurance;
- obligations of the parties;
- conditions for the occurrence of the reinsurer’s obligation to participate in the insurance payment.
There are 2 parties involved in the reinsurance agreement:
1. insurance organization transferring the risk;
2. an insurance organization that accepts the risk on its own responsibility.
The risk transferred is called reinsurance risk, and the process associated with its transfer is called reinsurance cession. The main function of reinsurance is secondary risk distribution. There are facultative and contractual methods of reinsurance.
The optional method of reinsurance is that the reinsurer and reinsurer are given the opportunity to assess risks that can be transferred by reinsurance in whole or in part. A facultative reinsurance contract is an individual transaction that primarily concerns one risk.
The contractual method of reinsurance (obligatory reinsurance) is a compulsory form of reinsurance in which all insurers operating in a given country are required by law to transfer, in a prescribed share, to a certain reinsurer (usually state-owned) all risks accepted for insurance.
Depending on the method of distribution of obligations between the insurer and reinsurer, proportional and disproportionate insurance are distinguished.
Proportional insurance – in a certain proportion. Disproportional – the insured amount, insurance premiums and insurance compensations are not distributed between the insurer and the reinsurer in the same proportion, which depends on the economic potential of a particular insurance company.

Insurance risk
Concept, essence, characteristics
Insurance risk is a danger or accident against which insurance is provided. Insurance risk is realized through damage. All risks arising in economic activity legal entities and individuals are divided into 2 groups:
1. risks that can be insured;
2. non-insurable risks.
An insurable risk is a risk that is characterized by the probability and randomness of the occurrence of an event, and also by which the amount of damage can be assessed.
Depending on the source of danger, the following are distinguished:
1. insurance risks associated with the manifestation of natural forces;
2. insurance risks associated with purposeful illegal actions of a person (theft, robbery, vandalism, misappropriation of material wealth);
3. insurance risks of long-term life insurance and pension insurance.
Depending on the scope of the insurer's liability, there are:
1 universal risks, i.e. risks included in the standard scope of liability of the insurer (for example, property from fire);
2. individual risks – typical for unique insurance objects.
A special group consists of specific risks:
1. catastrophic risks characterize potentially significant damage on a particularly large scale;
2. abnormal risks – risks that cannot be attributed to one or another type of risk.

The most common are universal risks.

Thus, the insurance market is understood as a set of economic relations regarding the purchase and sale of an insurance product (insurance protection), the basis of which is the formation of supply and demand for it.
The objective basis for the development of the insurance market is the need to ensure the continuity of the reproduction process by creating trust funds of funds intended to protect the property interests of the population in private and economic life from unexpected, random, unfavorable circumstances accompanied by damage.
In accordance with the law of the Russian Federation “on the organization of insurance business in the Russian Federation,” participants in the insurance market are:
- policyholders (insured persons or beneficiaries);
- insurance organizations;
- mutual insurance companies;
- insurance agents;
- insurance brokers;
- insurance actuaries (write out a definition);
- federal executive body whose competence includes the exercise of control and supervision functions in the field of insurance;
- associations of insurance business entities, including self-regulatory organizations.
Thus, we can come to the conclusion that the insurance market is an economic space in which policyholders operate, creating demand for insurance services, insurance companies that satisfy this demand, and insurance intermediaries that promote insurance services from insurer to policyholder.
Scheme of organization of the insurance market
A – direct insurance without the participation of an insurance intermediary;

B – direct insurance

B - reinsurance

G – coinsurance

From the perspective of a systemic integrated approach, the insurance market is a system that includes various relatively independent structural elements or subsystems with many:
1. organizational and economic relationships;
2. information relationships.
From this position, the structure of the insurance market includes:
- insurer market;
- market of insurers;
- insurance products market.

Systematic understanding of the structure of the insurance market
(arrows indicate the presence of relationships and mutual influence of the main elements of the insurance market structure)

The main participants in the insurance market in the Russian Federation are insurance organizations operating in the Russian insurance market, which can be classified based on various characteristics.
Classification of insurance companies
1. by the nature of the services provided:
- direct insurance companies;
- reinsurers;
2. by type of ownership:
- private insurance companies;
- state insurance companies;
- insurance companies with participation (based on) foreign investments;
- mixed insurance companies;
3. according to organizational and legal form:
- JSC;
- COMPANY;
- OOO;
- ODO;
4. by type of services provided:
- specialized insurance companies;
- universal insurance companies.

The development of the insurance market in the Russian Federation can be judged, first of all, by considering the dynamics of insurance premium receipts. The total volume of insurance premiums collected by insurers in 2010 amounted to 171 billion rubles, which is more than 8 times higher than in 2006. The growth rate of insurance premiums in recent years has exceeded the inflation rate in our country. One of the important indicators characterizing the level of insurance development is the ratio between the size of the insurance premium and GDP. IN developed countries its value ranges from 8 to 12%. In Hungary the Czech Republic exceeds 2%. In the Russian Federation in the first half of the 90s, this ratio was? 1.3%. in 2008 it increased to 1.6% of GDP. In 2009 it already reached 2.1%. In 2010 2.5%.
An analysis of the current state of the insurance market in the Russian Federation allows us to draw the following conclusions:
1. the services of insurers, with the exception of compulsory insurance, are used by 5 to 15% of citizens;
2. legal entities insure property for an amount not exceeding in the aggregate 5% of its total value.
The insufficient level of insurance development is explained mainly by:
1. low standard of living in the country;
2. distrust of insurance organizations, and sometimes lack of need to have insurance contracts
Conducted sociological surveys of potential policyholders indicate that 1/3 of those surveyed motivate their refusal of insurance services by lack of funds. About 1/4 - distrust of insurers. More than 1/5 - the lack of meaning in insurance.
As for the structure of insurance premiums, more than 80% is voluntary insurance, less than 20% is compulsory. The growth in the share of voluntary insurance is a positive development, since it is the level of development of voluntary insurance that characterizes, first of all, the state of the insurance market in the country.
In recent years, there has been a clear trend toward a reduction in the number of insurance organizations. At the beginning of 1997, 2,504 of them were registered. At the beginning of 2000 - 1,532. At the beginning of 2011 - ? (find).
A serious problem limiting the capabilities of Russian insurers is their low capitalization. The low capital levels of individual insurance organizations limit the ability of insurers to retain liability under insurance contracts in large amounts. This leads to the fact that a significant part of the insurance liabilities and, consequently, the insurance premium is transferred by reinsurance, including to foreign reinsurers.
Thus, main goal The development of the national insurance system is the creation of such insurance protection of the property interests of citizens and legal entities that would provide them with real compensation for losses, and would also allow the formation and effective use of investment resources for economic development.
Among the main tasks of creating an effective insurance system and, consequently, developing the insurance market, the following should be highlighted:
1. creation of a full-fledged legislative framework;
2. improving the mechanism of state regulation and supervision of insurance activities;
3. development of forms of transformation of household savings into long-term investments using the mechanism of long-term life insurance;
4. gradual integration of the domestic insurance system into the international insurance market.

Lecture 6
Assignment for the seminar:
1. reliability rating of leading insurance companies in the Russian Federation as of 02/01/2011.
2. top 12 in agricultural insurance as of 02/01/2011;
3. top 12 for cargo insurance as of 02/01/2011;
4. top 10 for liability insurance;
5. top 10 for accident and illness insurance;
6. top 10 for VHI (voluntary health insurance);
7. top 10 for property insurance
8. top – 10 according to compulsory motor liability insurance;
9. rating of insurers for the main insurance issues based on the results of 2010;
10. dynamics of the insurance market for the main insurance issues (1st period - as of 01/01/2010, second period - as of 01/01/2011);
11. performance results of the leading insurance companies of the Russian Federation (total without compulsory medical insurance).

Participants of the insurance contract
The main subjects of the insurance market are:
1. policyholders – buyers of insurance services;
2. insurers – sellers of insurance services;
3. insured persons and beneficiaries can participate as consumers of insurance services;
4. The infrastructure of the insurance market consists of insurance intermediaries, reinsurers, accident commissioners, adjusters and surveyors.
Insurers are organizations created to carry out insurance activities, i.e. those who undertake the obligation to make an insurance payment upon the occurrence of an event specified in the insurance contract. In order to protect the interests of clients, special requirements have been established for the establishment and activities of insurers, which are as follows:
1. insurers can only be legal entities that must be established in any organizational and legal form established by law;
2. insurers must obtain a license certifying the right of the insurance organization to conduct operations on the types of insurance specified in it
3. The authorized capital of the insurer, paid exclusively in cash, cannot be less than 25 thousand minimum wages established by law, and if the insurance organization is engaged in life insurance, it cannot be less than 35 thousand minimum wages;
4. The subject of direct activities of insurers cannot be production, trade and intermediary and banking activities.
In addition to insurers, the insurance market also includes reinsurance organizations or reinsurers. The peculiarity of their activities is that they enter into reinsurance agreements with insurers. The essence of the reinsurance contract is the reinsurer's assumption of the risk of the insurer's failure to fulfill all or part of its obligations under the insurance contracts.
Policyholders are persons who have entered into insurance contracts with insurers, are obliged to pay insurance premiums and have the right to demand from the insurer upon the occurrence of an insured event an insurance payment for themselves or the beneficiary. Insurers can be:
- legal entities;
- capable individuals.
In personal insurance, policyholders can be:
- citizens who have insured themselves or other persons, for example, children;
- legal entities that have entered into insurance contracts in relation to their employees or other individuals.
In property insurance, the policyholder can be the person who owns the insured property, as well as any other person.
In business risk insurance, policyholders can be legal entities or individuals engaged in any business activity.
In liability insurance, the insured can be any individual or legal entity who transfers to the insurer the responsibility for compensating damage to other persons.

The insured person is the person in respect of whom the insurance contract has been concluded, i.e. with whom an insured event may occur, directly related to his personality, the circumstances of his life or affecting the safety of his property rights and interests. The insured person must be indicated in personal insurance contracts.
The beneficiary is the person in whose favor the insurance contract is concluded. The main right of the beneficiary is that he receives an insurance payment upon the occurrence of an insured event.

Characteristics of insurance intermediaries
Insurance intermediaries can be insurance agents, insurance brokers, adjusters and surveyors. They are not parties to the insurance contract. And the tasks are:
1. promotion of insurance services from the insurer to policyholders;
2. assistance in concluding reinsurance contracts;
3. assistance in the execution of the insurance contract.
Insurance agents are persons acting on behalf, at the expense and on behalf of the insurer strictly with the functions and instructions provided by the insurer. The functions of insurance agents can be:
- search for insurers;
- consulting of insurers;
- registration of insurance contracts;
- signing insurance contracts on behalf of the insurer;
- servicing the policyholder under contracts (mainly the collection of insurance premiums).
Insurance agents can be both individuals and legal entities. The relationship between insurance agents - individuals, and an insurance organization can be built on the basis of concluding an employment agreement. Insurance agents are divided into: direct, single-mandate and multi-mandate.
Direct insurance agents include insurance agents who are on the staff of an insurance company, enter into insurance contracts only on behalf of this company and have a constant salary (except for commissions). Such agents have a high level of professional training, but at the same time, the insurer is forced to incur constant labor costs independent of their productivity. At the same time, the remuneration system often does not encourage insurance agents to conclude a larger number of contracts.
Remuneration for monomandate insurance agents, in contrast to direct ones, is made only in the form of a commission in proportion to the collected insurance premium. However, this method of payment, while stimulating an increase in the volume of insurance transactions, simultaneously leads to the fact that agents do not particularly care about the degree of insurance risk under contracts, i.e. they can enter into contracts under which large insurance payments will have to be made. In order to avoid this, insurers sometimes stimulate the quality of contracts concluded by agents (for example, by increasing or decreasing the amount of commission depending on the level of loss on contracts concluded by agents).
Multi-mandate agents, unlike mono-mandate agents, can work for several insurance companies. They specialize in one or more types of insurance. Their services are beneficial for new or small insurance companies that do not have their own agent network.
Insurance agents - legal entities, can be travel or transport agencies, legal advice, notary offices and other organizations that, along with providing services in the main profile of their activities, offer the client to draw up an insurance contract. However, specialized organizations can also be insurance agents – legal entities.

Lecture 7
Insurance brokers– these are legal entities or individuals registered in the prescribed manner as entrepreneurs, carrying out insurance intermediary activities on their own behalf and on the basis of instructions from the policyholder and the insurer. This type of order is called commission and is regulated by the Civil Code of the Russian Federation. Insurance brokers can provide the following types of services:
1. searching and attracting clients to conclude insurance contracts;
2. conducting explanatory work on the types of insurance the client is interested in;
3. provision of expert and consulting services on assessing insurance risks when concluding an insurance contract and other issues in the field of insurance;
4. collection of information of interest to the client for concluding contracts;
5. preparation or execution of documents necessary for concluding contracts;
6. collection of insurance premiums;
7. assistance in organizing reinsurance and coinsurance of objects accepted for insurance;
8. organization of services of adjusters, surveyors and emergency commissioners;
9. preparation and execution of documents related to insured events;
10. organization of insurance payments on behalf of the insurer.
The main difference between a broker and an insurance agent is that he acts on the insurance market as an independent intermediary between the client and the insurer, linking the needs of policyholders with the offer of services on the insurance market. By its status, an insurance broker is a representative and defender of the interests of the policyholder, i.e. his consultant. Therefore, he must develop the most effective program insurance protection, invite him to take the necessary preventive measures in order to reduce the likelihood of an insured event.
The services of insurance brokers are most often used to insure industrial risks, ships, aircraft, and cargo. An insurance broker is obliged to have information about the activities of insurance companies, their financial condition, services offered and to inform the client about this. Insurance brokers usually receive a commission from insurers for concluding insurance contracts. A specific type of brokerage activity is the placement of risks transferred by clients - insurance organizations - to reinsurance.

Surveyors– these are experts who inspect the property accepted for insurance and determine its value and acceptable insured amount. Based on the surveyor’s conclusion, the insurer makes a decision:
1. about the possibility of insurance;
2. about the size of the tariff rate.
The surveyor's tasks may also include inspecting property after damage has occurred.
Functions surveyors are usually performed by specialized organizations involved in risk management. They interact with insurers and policyholders on a contractual basis. Most often, surveyors are found in marine insurance and cargo insurance. In particular, surveyors carry out an examination of ships and their degree of seaworthiness.

When insured events occur, consideration of the circumstances of the case and determination of the amount of damage may include emergency commissioners And adjusters. These are individuals or legal entities associated with the settlement of claims filed by the insured for damages arising in connection with an insured event for damages under property insurance. Accident commissioners and adjusters act in accordance with instructions received from insurers:
1. conduct an inspection of damaged or missing property;
2. establish the causes, nature and extent of damage from the insured event;
3. prepare an expert opinion for insurers on the causes and circumstances of the occurrence of an insured event;
4. conduct negotiations on behalf of insurers with policyholders about the amount of insurance payment and, on behalf of the insurer and at his expense, make such payments.
The activities of adjusters and accident commissioners can be carried out both within the framework of a structural unit of an insurance organization, and through the creation of a specialized organization that enters into an agreement with insurers for the provision of services for examination and liquidation of losses.

Principles of organizing insurance marketing
Insurance marketing is a system of activities of an insurance company, including the study of the state of the insurance market and the prospects for demand for insurance services, as well as the organization of work aimed, firstly, at the sale of the insurer's insurance products and, secondly, at the development and implementation of new types of insurance operations.
The main objectives of marketing are:
1. study of demand for insurance services;
2. satisfaction of insurance interests.
Insurance marketing differs significantly from marketing in the field of commodity production due to the specifics of insurance services. The insurance marketing cycle includes 4 stages:
1. insurance market research;
2. development of popular insurance services;
3. organization of advertising of insurance services;
4. distribution of insurance services.

Share of various channels of distribution of insurance services

Lecture 8
General principles of state regulation in insurance
State regulation of insurance activities is the creation by the state of framework conditions for the functioning of the insurance market, within which its subjects are free to make decisions. Goals of government regulation are:
1. ensuring reliable and stable functioning of the insurance market in the country;
2. ensuring compliance by insurance market entities with legal requirements;
3. increasing social and economic stability in society through insurance;
4. ensuring the fulfillment of obligations by the parties to insurance contracts;
5. protection of the domestic insurance market from the activities of foreign companies;
6. receipt by the state of taxes and fees from insurance activities.
Methods of government regulation are as follows:
1. adoption of laws and other regulations in the field of insurance;
2. control by authorized state bodies over compliance by participants in the insurance market with laws and other regulations;
3. regulation of the financial stability of insurers and ensuring their fulfillment of obligations to consumers of insurance services;
4. control over the payment of taxes and fees by insurance market entities;
5. imposition of sanctions on insurance market participants who do not comply with established requirements.
The following are subject to state regulation in insurance:
1. activities of insurance sellers (insurers and reinsurers);
2. activities of insurance intermediaries;
3. activities of consumers of insurance services (policyholders, insured persons and beneficiaries).
State regulation of insurance activities is carried out with the help of the State Insurance Supervision bodies. In the Russian Federation, the functions of this body are performed by the FSSN, which is a structural division of the Ministry of Finance.
FSSN:
1. issues licenses to insurers to carry out insurance activities on the territory of the Russian Federation and maintains their unified state register;
2. registers insurance brokers and maintains their register;
3. generalizes the practice of insurance activities, develops and presents proposals for the development and improvement of the legislation of the Russian Federation on insurance;
4. exercises control over compliance with the requirements of laws and other legal acts related to the conduct of insurance activities;
5. develops regulatory and methodological documents on insurance activities and monitors their compliance;
6. receives from insurers accounting and statistical reports on insurance activities, as well as information on their financial position, reviews and analyzes them;
7. when identifying violations of legal requirements by insurers, gives them instructions to eliminate violations or limits the validity of licenses until the identified violations are eliminated, or makes decisions to revoke licenses;
8. applies to the arbitration court with claims for the liquidation of insurers, as well as for the liquidation of enterprises and organizations providing insurance without licenses;
9. considers applications, proposals and complaints from citizens, enterprises and institutions regarding insurance issues.
In addition to the insurance supervisory body (FSSN), state control in the insurance market, within the limits of its competence, is exercised by:
1. tax authorities;
2. Central Bank of the Russian Federation (controls the conduct of insurance operations in foreign currency);
3. body for antimonopoly policy (prevention of unfair competition in the insurance market).
There are 2 stages of control over the activities of insurers - preliminary and current control. On the stage preliminary control organizations are selected that receive the right to engage in insurance activities. The task of this stage is to prevent companies that do not meet the established criteria (license) from entering the insurance market. To obtain a license, you must submit the documents required by law, have the necessary financial resources and fulfill other established requirements. When implementing current control insurance supervisory authorities review and analyze accounting and statistical reports submitted by insurers. At this stage, the task is mainly to get an idea of ​​the state of affairs in insurance organizations, monitor their compliance with the law, and assess their ability and readiness to fulfill their obligations. In this case, the main attention is paid to assessing the financial condition of insurance organizations. In particular, it is controlled:
1. compliance of the insurers’ own funds;
2 the correctness of the formation of insurance reserves;
3. compliance with investment requirements.

The procedure for concluding and issuing an insurance contract. Terms of the insurance contract
Insurance contract- this is an agreement between the policyholder and the insurer, by virtue of which the insurer undertakes, in the event of an insured event, to make an insurance payment to the policyholder or beneficiary within the limits of the insurance amount determined by the contract, and the policyholder undertakes to pay the insurance amounts stipulated by the contract within the established time frame. To conclude a contract, the policyholder must notify the insurer of his intention in writing. The insurer may invite the policyholder to fill out a form developed by him. The policyholder is also obliged to inform the insurer of all circumstances known to him that are important for determining the likelihood of the occurrence of an insured event. Another obligation of the policyholder when concluding a contract is that he must inform the insurer about all other insurance contracts concluded by him in relation to this object.
The insurer's responsibilities include:
1. familiarization of the policyholder with the insurance rules;
2. acceptance from the policyholder of a statement of desire to enter into an agreement;
3. making a decision on the possibility or impossibility of concluding a contract.
The insurer also has the right to assess the degree of risk:
1. inspect the property to be insured;
2. conduct an examination of the actual health status of the insured person.
In order for an insurance contract to be recognized as valid, it must be concluded in writing. It can be done in two ways:
1. by drawing up one document signed by two parties;
2. by delivery by the insurer to the policyholder of the insurance policy.
When concluding an insurance contract, the parties must agree among themselves on its terms.
Objects of insurance may be:
A. in personal insurance:
- life;
- health;
- ability to work;
- pension provision of the policyholder or insured person;
b. in property insurance:
- possession;
- use;
- disposal of property;
V. in liability insurance – compensation for damage caused to person or property;
d. in business risk insurance – compensation for losses from business activities and for violations of the counterparty’s obligations.
Also, the terms of the insurance contract indicate the insured value, sum insured, insured risk, insurance period, insurance tariff, insurance premium and insurance premium.
Insurance value when insuring property, it is the actual value of the insured property at its location on the day of concluding the insurance contract (actual value - market value).
Sum insured– this is the amount for which the insurance contract is concluded.
Insurance risk– this is an expected event, in case of which an insurance contract is concluded.
Insurance period– the period of time during which the insurance contract is valid.
Insurance tariff (tariff rate)– this is the value by which the amount of insurance fees is determined. Most often, the insurance rate is set as a percentage of the sum insured.
Insurance premium- This is the insurance fee paid by the policyholder to the insurer. Its size is determined by multiplying the insurance rate by the insured amount or other risk parameter. Discounts are offered:
1. for concluding insurance contracts for several years in a row;
2. for the absence of insured events under insurance contracts for a number of years;
3. for concluding agreements with the franchise.
Insurance fee- this is part of the insurance premium or its full amount paid by the policyholder within the time limits established by the insurance contract. the calculated insurance premium must be paid in one lump sum or in installments - in the form of insurance premiums.

Lecture 9
Relationships between the parties upon the occurrence of an insured event
1. Responsibilities of the policyholder in case of an insured event.
2. Actions of the insurer in the event of an insured event.
Responsibilities of the policyholder in case of an insured event
When an insured event occurs under a property insurance contract, the policyholder or beneficiary is obliged to notify the insurer about it immediately or within the time limits and methods specified in the insurance contract. The same obligation lies with these persons in personal insurance contracts if the insured event was death or injury to the health of the insured person. But in such cases, the period of notification to the insurance organization cannot be less than 30 days.
Another legally established obligation of the policyholder or beneficiary upon the occurrence of an insured event is to take reasonable and accessible measures in the current circumstances to reduce possible losses.
If the insurance contract is concluded in favor of a person other than the policyholder, the insurer has the right to demand from the beneficiary, when presenting a claim for insurance payment, to fulfill those obligations under the insurance contract that lay with the policyholder, but were not fulfilled by him.

Actions of the insurer in case of an insured event
The insurer carries out a number of actions with the ultimate goal of fulfilling its main responsibility - making an insurance payment. Such actions in insurance practice are called liquidation of the consequences of an insured event. They include a number of steps:
1. establishing the fact of an insured event;
2. calculation of the amount of damage and insurance payment;
3. making insurance payments;
4. taking measures to return the amounts paid in connection with the insured event.
To establish the fact of an insured event, the insurer must find out the following:
- for what reason the damage was caused and whether it is included in the list of insurance risks;
- whether the occurrence of the insured event was caused by circumstances for the consequences of which the insurer is not liable under the contracts;
- whether an event occurred that resulted in damage during the period of the insurer’s liability under the contract;
- whether damage was caused specifically to the property interests that are the object of this insurance contract;
- whether the event occurred in those premises or in the region that are the place of insurance.

Personal insurance
The role of personal insurance in society
When unfavorable events occur in the lives of citizens (illness, disability, disability, death), the state takes care of maintaining a certain standard of living for the victims or their loved ones through social insurance and security, paying appropriate benefits and pensions. However, the state cannot fully satisfy the social needs of people only at the expense of public funds due to the limited availability of financial resources. Therefore, benefits are paid through state social insurance and security, the amount of which does not fully cover existing needs. As the financial capabilities of the state grow, these payments increase, but their value is still far from the needs of the recipients of the payments. This situation creates objective conditions for organizing additional insurance protection for the population. For workers, this protection is provided at the expense of employers and the workers’ own funds. For unemployed citizens - only at the expense of their own resources.
Additional insurance coverage for the population can be organized:
1. individually – in the form of deposits in banks;
2. in a collective form – through the conclusion of personal insurance contracts.
The first method is available to a fairly limited number of citizens who either have a fairly high level of income or are motivated to save. The second method can cover millions of people with average and even low incomes, thereby personal insurance acts as an addition to social insurance and security, increasing the degree of insurance protection for citizens when adverse events occur in their lives.
Through personal insurance, the savings interests of the population can be realized. The combination of savings and risk principles in personal insurance gives certain advantages to insurers over banks in attracting funds from citizens.
Insurance organizations invest the accumulated resources in economic development and receive large incomes from this, a significant part of which is paid to policyholders and other beneficiaries.

Classification of personal insurance
Personal insurance:
I. life insurance:
1. death insurance
2. survival insurance;
II. health insurance:
1. insurance against accidents and illnesses;
2. health insurance.

Personal insurance combines a large number of types, the objects of which are property interests related to the life and health of the insured. As an insurance industry, it is divided into 2 sub-sectors:
etc.................

Insurance is one of the oldest categories of social and economic relations. The emergence of insurance is due to the fact that the most important condition for the normal reproductive process and human life is uninterruptedness and continuity. That is, the constant renewal of the production of material goods is necessary to meet the social needs of people. However, throughout the history of mankind, the process of social production is disrupted under the influence of external forces that are random in nature. This gives rise to an objective need to establish certain relationships between people to prevent, overcome and limit the destructive consequences of natural disasters.

Insurance developed with the advent of metallic money ca. 550 BC in the Lydian state. At this time, agreements began to be concluded between participants in land and sea caravans on jointly bearing losses in the event of attacks on their caravans.

IN Ancient Rome Mutual insurance was developed in various trade unions (colleges), i.e. members of the college contributed a certain amount monthly and, in the event of death, a certain amount was paid from the general fund for burial.

In the Middle Ages, the development of insurance was associated with merchant shipping. Marine and mutual insurance was developed in Italy, where the insurance contract first appeared with the participation of the Catholic Church. Starting from the 14th century, insurance contracts with individuals began to be concluded through a courtier - a general agent; differentiated insurance rates were introduced, depending on the type of product, conditions and object of insurance.

The development of naval industry led to the creation of a set of legislative regulations on the organization of marine insurance.

The first insurance companies arose in Europe in the 17th century. In the 80s In the 17th century, insurance companies specializing in fires arose in England. This was due to the fire of 1666 in London, in which 70,000 thousand people died. At the same time, in France, Italy, and Sweden, insurance companies were mainly engaged in marine insurance.

Until the 18th century, insurance developed in the absence of statistics and actuarial calculations, when in 1762 the “Equitable Life Insurance Society” was organized in England, which provided for special calculations to determine the annual amount of contributions by individuals to obtain insurance coverage in the event of death.

The economic development of European countries, starting from the 18th century, led to the emergence of new risks and, as a result, new types of insurance, such as mutual insurance, fire insurance, livestock death insurance, and state insurance for workers in case of illness.

In the 20th century, insurance received a new round of development associated with the improvement of technology, methods of statistical analysis and actuarial calculations, accounting for supply and demand for insurance services

In Muscovite Rus', there was a fund in the treasury for the restoration of cities and the ransom of prisoners after raids by nomads.

The further development of insurance in Russia was associated with the formation in 1786 of the State Loan Bank, under which the State Insurance Expedition was created to insure goods and buildings against fire. However, this company existed only for 36 years, since the insurance services it provided were not in demand. First of all, this was due to the high tariff rate, the same for all insurers, as well as the small coverage of insured risks (only stone houses were insured against fire).

The first specialized insurance company was created in Russia in 1827 and existed for 90 years. The first insurance companies received significant benefits from the Government, in particular, they were given 20 or 12 year monopolies and exemptions from paying most taxes.

In 1835, personal insurance appeared in Russia.

In 1839 - animal insurance, and in 1844 - the Society of Marine, River and Land Insurance was established.

In 1861, by decree of Alexander II, it was allowed to create mutual fire insurance societies. By 1864 such societies existed in St. Petersburg, Moscow, Tula and Poltava.

In 1885, the ban on foreign insurance companies operating in Russia was lifted, which also opened the way for the development of risk reinsurance operations in the international insurance market for Russian companies.

A significant role in personal insurance was played by savings banks and zemstvos, which organized pension funds in 1890 to pay rent to policyholders and members of their families.

The work of joint-stock companies in Russia until the 90s of the 19th century was based on the Regulations on joint-stock trading and industrial companies. In 1894, the Regulations on the supervision of the activities of insurance institutions and companies were issued.

In 1913, most insurance companies united into the Russian Union of Mutual Fire Insurance Companies. At the same time, Russian legislation began to regulate the amount of contributions to insurance reserves, the size of which should have been no less than 40% of collected insurance premiums.

In 1918, the insurance business was nationalized, and during the Civil War, property insurance in cash, as well as personal insurance of all types, was abolished.

The revival of insurance in the USSR began in 1921 with the creation of Gosstrakh.

In 1947, an independent legal entity was separated from Gosstrakh - the Department of Foreign Insurance (Ingosstrakh). Gosstrakh of the USSR specialized in insuring the country's agro-industrial complex and property interests of citizens, and Ingosstrakh was engaged in insuring the country's foreign trade operations.

Demonopolization of the insurance business in Russia began in 1988 with the adoption of the law “On Cooperation in the USSR,” and joint-stock insurance companies began to appear.

Currently, more than 1,300 insurance companies have been created in the Russian Federation, as well as an association of insurance organizations.

The undisputed leaders in the Russian insurance market are the Russian State Insurance Company (Rossgostrakh), whose founder is the Ministry of State Property Management, and Ingosstrakh, formed in 1992 as a joint-stock company, the founders of which were a number of commercial banks and individual individuals.

Companies operating in the Russian insurance market can be divided into several groups:

Companies providing compulsory state insurance (medical and pension).

Companies providing traditional types of property and personal insurance.

Companies that ensure the interests of certain financial and industrial groups, such as UES of Russia, Gaprom, etc.

Reinsurance companies.

Mutual insurance companies.

Types of civil liability insurance, their features

In accordance with the current legislation of the Russian Federation, under an insurance contract for the risk of liability for obligations arising from causing harm to the life, health or property of other persons, the risk of liability of the policyholder himself or another person who may be assigned such liability can be insured. In this case, the person whose risk of liability for causing harm is insured must be named in the insurance contract. If this is not specified in the contract, then the insured is considered to be the risk of liability of the policyholder himself. An insurance contract for the risk of liability for causing harm is considered to be concluded in favor of persons who may be harmed (beneficiaries), even if the contract is concluded in favor of the insured or another person responsible for causing the harm, or the contract does not say in whose favor it is concluded ( Article 931 of the Civil Code of the Russian Federation).
In addition, according to Art. 932 of the Civil Code of the Russian Federation allows insurance against the risk of liability for breach of contract in cases provided for by law.
Thus, an analysis of legislation allows us to divide liability insurance into two types:

liability insurance for damage;

liability insurance under the contract.

Insurance is carried out on the basis of an agreement concluded between the policyholder and the insurer. If the contract acts as a free expression of the private autonomous will of the insurer and the policyholder, the extension of all general rules about contractual obligations and transactions, then this is voluntary insurance. If the conclusion of a contract follows from an imperative requirement of the law, as a special case of compulsion established by law to conclude a contract, while providing for the consequences of violating the rules on compulsory insurance, then this insurance is mandatory.

Thus, liability insurance can be:

voluntary insurance;

compulsory insurance.
The importance of compulsory liability insurance is explained by the fact that when carrying out certain types of activities a person can cause significant harm to society or an indefinite number of persons. The amount of harm will be quite large, while the person may not have enough opportunities and means to compensate for the harm or may not have them at all.
At the same time, the civil code does not contain a list of categories of persons who are obliged to enter into a liability insurance agreement. However, it is indicated that this type insurance is carried out in cases provided by law. Currently, such a regulatory legal act is the Law “On compulsory insurance of civil liability of owners Vehicle» which came into force on July 1, 2003, which identifies vehicle owners as a category of persons obligated to insure their civil liability.

In the Law of the Russian Federation "On the organization of insurance business in Russian Federation"The following types of insurance are distinguished:

Civil liability of vehicle owners;

Civil liability of owners of air transport vehicles;

Civil liability of owners of water transport vehicles;

Civil liability of owners of railway transport;

Civil liability of organizations operating hazardous facilities;

Civil liability for damage caused by defects in goods, works, services;

Civil liability for causing harm to third parties;

Civil liability for non-fulfillment or improper fulfillment of obligations under a contract.

The most important among various types Liability insurance has mandatory civil liability insurance for vehicle owners due to its widespread nature, affecting the majority of the country's active population.
In Russia, the Federal Law “On Compulsory Civil Liability Insurance of Vehicle Owners,” which came into force on July 1, 2003, establishes the basic concepts, principles, conditions and procedure for compulsory civil liability insurance of vehicle owners.
A type of civil liability insurance for vehicle owners is liability insurance of carriers to transported passengers and shippers.
For enterprises operating hazardous production facilities, liability insurance is mandatory. This type of insurance was introduced by the Federal Law “On Industrial Safety of Hazardous Production Facilities”. However, the provisions of this Law do not contain all the features of compulsory insurance provided for in paragraph 3 of Art. 936 of the Civil Code of the Russian Federation, therefore, civil liability insurance of enterprises operating hazardous facilities is not mandatory in the understanding of the Civil Code of the Russian Federation. These types of insurance were previously called term insurance. All organizations and enterprises operating hazardous production facilities must insure their liability for harm to life, health or property of other persons and the environment. natural environment in the event of an accident at this facility. State control over compliance with this Law is carried out federal Service on technological supervision. A special group of dangerous objects are objects where nuclear energy is used ( nuclear reactors, diagnostic equipment using radioactive isotopes, etc.).
A specific type of insurance is product liability insurance. It is of particular importance in connection with the adoption of the Federal Law “On the Quality and Safety of Food Products,” which provides for the need for financial guarantees not only to compensate for harm to victims of eating low-quality products, but also to reimburse the costs of sanitary and epidemiological surveillance authorities to eliminate the consequences of such damage.

Property liability for damage caused due to defects in products or goods provides for compensation for damage caused to the life, health or property of the consumer due to defects in the product (work, service). The right to demand compensation for harm is recognized for any victim, regardless of whether he was in a contractual relationship with the performer (seller) or not.

Civil liability to third parties includes personal civil liability, for example, the owner of a house for the risks of harm to passers-by, professional liability of doctors, notaries, appraisers, crisis managers and persons of some other professions. Professional liability of representatives of certain professions where the damage caused can be significant (notaries, appraisers, arbitration managers, customs brokers) must be insured without fail.

The Insurance Law includes liability insurance for employers to employees as a separate group. In many developed countries, employers' liability insurance is mandatory and is associated with the huge volume of claims made by workers against their employers. For example, “asbestos” lawsuits in the US and UK for illnesses caused by working with asbestos.

So, the mandatory types of civil liability insurance are:

1) insurance of civil liability of enterprises that are sources of increased danger;

2) professional liability insurance for notaries;

3) professional liability insurance for appraisers;

4) professional liability insurance for brokers;

5) liability insurance for organizations operating nuclear energy facilities;

6) civil liability insurance for obligations arising from damage caused by accidents of hydraulic structures;

7) liability insurance for auditors (when conducting a mandatory audit, the audit organization is obliged to insure the risk of liability for violation of the contract);

8) civil liability insurance for vehicle owners (MTPL).

Economic theory: lecture notes Dushenkina Elena Alekseevna

Lecture No. 9. Insurance

Lecture No. 9. Insurance

Main purpose of insurance– protection of property interests of the population in the event of insured events.

Insurance is the creation of trust funds of funds intended to protect the property interests of its participants arising both in private and in economic life, which are accompanied by the occurrence of damage.

Insurance is a system of economic relations based on pooling the risk of individual subjects and created with the aim of reducing financial losses associated with risk.

Insurance risk– this is an assumed probable event (for example, fire, flood); specific object of insurance.

Insurance event– this is an event specified in the insurance contract.

Insurance liability– this is the obligation to pay insurance compensation.

Insurance case– this is an event provided for by law or an insurance contract, upon the occurrence of which the insurance company, in accordance with the terms of the contract, is obliged to pay an insurance payment.

Insurance rate- this is the insurance premium rate or the insurance premium expressed in rubles, paid per unit of insurance amount.

Among the main organizational forms of insurance funds are:

1) state funds (pension, compulsory health insurance);

2) self-insurance funds (created independently at enterprises);

3) funds of insurance organizations.

Insurance principles:

1) the principle of taking into account the psychological factor;

2) the principle of combining economic risk;

3) the principle of solidarity;

4) principle of equivalence (financial) - all funds collected from all insurance participants over a certain period must be returned in the form of insurance payments.

There are a number of insurance functions:

1) at the level of private life:

a) risky;

b) cumulative;

2) at the production level:

a) risk (accident insurance, cargo insurance);

b) forced;

c) reducing the needs of an individual or group of people for financial guarantees from the state;

d) ensuring the continuity of social production;

e) protection of the interests of victims in the system of civil liability relations;

f) stimulation scientific and technological revolution and innovation process.

There are many types of classifications of types of insurance:

1) based on legal nature:

a) mandatory;

b) voluntary;

2) according to the homogeneity of risks:

a) transport;

b) aviation insurance, etc.;

a) personal;

b) property;

c) liability insurance.

Personal insurance– This is life insurance against accidents and illnesses, medical insurance.

Property insurance– insurance of land, air, water transport, insurance of cargo and other types of property, insurance of financial risks (bankruptcy).

Liability insurance – motor vehicle insurance, carrier liability insurance, liability insurance for enterprises – sources of increased danger, professional liability insurance, liability insurance for failure to perform duties.

Insurance reserves of an insurance company– these are funds formed from insurance premiums received and intended to fulfill insurance obligations in the manner prescribed by the legislation of the Russian Federation or the insurance contract.

Technical reserves can be mandatory or additional.

Mandatory reserves include a reserve of unearned premiums, a reserve of losses, etc. Additional reserves include a reserve of catastrophes, a reserve of fluctuations in unprofitability and other reserves.

The reserve for loss fluctuations is additional source for insurance payments, if actual value loss ratio exceeds the estimated loss ratio.

Unprofitability– this is a relative indicator of the ratio of all insurance payments to the insured amount.