Any developed society. The size of this sphere in this case is a significant part country's GDP. In order to understand this topic well, you need to know what its basic concepts are, the principles of insurance, as well as have an idea about their implementation and application. And this is all we will study in the framework of this article.

general information

Before studying the principles of insurance, we need to understand the essence of this very field of activity. What does she mean? Insurance is understood as a certain set of relations of a redistributive nature, thanks to which special trust funds are formed. Their use, under certain conditions, allows participants to count on compensation for the consequences in the event of insured risks. In order to understand the features of this sphere on the territory of the Russian Federation, it is necessary to familiarize yourself with the law "On the organization in Russian Federation". For the convenience of operating, separate areas were identified, the work of which has its own characteristics. So, there are principles of voluntary, social, medical, and so on. They often depend on the scope. But not all.

General principles of insurance

They were bred during the formation and development of this sphere. So, there are basic principles of insurance:

1. Equivalence. It implies maintaining a balance between the expected assistance of the victim and the insurer.
2. Solidarity. It implies the use of the funds of a part of the participants in order to compensate for the damage received by other people who took part in the formation insurance fund and need to be paid. Thus, all negative consequences are distributed to the maximum possible number of people.
3. recurrence. All funds that were sent to the insurance fund will be used only for payments to its members. The best comparison here is with taxes, which are distributed among all citizens of the state, and in some cases are spent on a part of foreign ones.
4. Reimbursement. Insurance protection of a person is provided, which provides that compensation will not be larger than the actual damage caused. In other words, if a house was damaged, which was estimated at two million rubles, it is almost impossible to receive more than this amount.
5. Prevention. Insurers take all measures in their power that can lead to a decrease in the likelihood of undesirable situations. This minimizes the amount of damage that can be caused to a person's property interests.

As an example, the principles health insurance fully correspond to the information given in this part of the article. But not everything is so easy.

The role of insurance

Before delving into the theoretical nuances and aspects, let's look at the functions that this area performs in the economic segment of our society:

1. Compensatory. In other words, there is an equalization of damage due to the fact that financial resources, which can allow affected entities to quickly resume their activities, while reducing harm to human health and life.
2. savings. The protection and improvement of the standard of living of people is ensured through the use of capitalization mechanisms in life insurance.
3. warning. They receive funding for activities that help reduce the likelihood of an insured event, which allows everyone to win: the fund, thanks to a decrease in the level of payments, and the population, thanks to saved health and life.
4. Investment. The insurance sector contributes to the activation of short- and long-term investments of funds that are in a position of temporarily free. Thanks to this, the funds act as a significant accumulator of unused money and channel it into the economy.

Of course, the functions presented here can take on a different level of detail, depending on the tasks being solved, the organization, and much more.

Insurance relations

They can have the same essence and different content at the same time. Also, different implementation is possible for them due to the variety of organizational forms. This is what was meant when we talked about distinct principles of insurance earlier. Let's look at what forms of relationships can be:

1. Mutual insurance. V this case it is understood that within a certain group, participants on a non-commercial and mutual basis unite in special societies that exist at the expense of their members.
2. Commercial insurance. It provides for compensation in the event of a certain risk for a particular legal or natural person. Moreover, it will be received from a professional. The condition for participation in this program is the payment of a certain fee.
3. Social insurance. It is formed from the contributions of employers and employees. insurance provide for its universality in terms of social risks. State legislation is used to regulate its main provisions.

For us, the principles of mandatory social insurance. But in other countries this is often not the case. This is largely due to their lower initial focus on the person. Thanks to this, such a phenomenon as self-insurance has spread. If we talk about a person, then this means consciously setting aside part of the money as savings or for their investment. In some way, such a term as self-insurance can also be attributed to the state or various organizations. In the first case, the government decides to create strategic reserves. They can be filled with money, food, and other valuables. In the case of enterprises, this is also understood as reserves, but much smaller in size.

Commercial and mutual insurance

What is their basis? They use the principles voluntary insurance. We can confidently say that their implementation is possible only if there is a desire on the part of the person who acts as a client. In addition to the above provisions, insurance contracts are also used, which contain all other features of the relationship, if they do not contradict the current legislation. There is a separate market where this specific product is sold. At the moment, we can safely say that these areas of insurance are an integral part of the economies of countries that account for approximately 7% of the gross domestic product of the world.

And what about in Russia?

The Russian Federation cannot yet boast of significant development. Thus, it still accounts for about 3% of the country's total GDP. This state of affairs is observed due to the absence of long-term traditions of the insurance market and regular crisis situations. The most significant impact on the development of this sphere was the crisis of 2008, the consequences of which are felt to this day. The situation with rather low level trust, when people believe that the safest place for money is under the mattress. Of course, such a statement, although it has the right to exist, is still erroneous. Given the presence of ever-increasing inflation, it is impossible not to pay attention to the fact that savings are very quickly "eaten up" by it. Therefore, care must be taken to minimize or even eliminate such a negative effect. And various economic instruments will be able to provide all possible assistance in this.

Features of market development

In order to understand the processes taking place in the insurance business, one should be able to deal with the criteria on which the basic rules depend, understand the methods and financial specifics of the provision of a particular service. There are basically two concepts used here:

1. Damage compensation. In this case, the insured person receives a certain percentage of the value of the property. As an example, consider the following case. A factory was built. It was insured against fire for 100% of its value. In this case, in the event of a fire, all damage will be compensated. Of course, this will be preceded by an investigation into whether safety precautions have been observed.
2. Compensation for a certain amount. In this case, the victim is paid a certain amount of money, previously agreed. An example is a situation where a person broke his arm, and he was paid 20 thousand rubles in compensation.

Conclusion

So, after reading the article, a clear understanding should be formed that the number of principles that are mandatory in any direction is quite small. But already in specific areas, their own, special mechanisms can work. So, with regard to social insurance, it can be noted that it is mandatory. It is one of the founding principles of a social contract whereby all those who can work now provide for those who previously worked. This topic is very interesting for further study.

Educational and methodical manual for self-preparation for practical training(in questions and answers).
Taganrog: SFU, 2007

5. FINANCE OF INSURANCE COMPANIES

What are the basic principles of insurance?

Insurance has a number of principles that determine the economic and organizational mechanism of insurance:

- the principle of taking into account the psychological factor. People are ready to lose a certain part of their income as a price for not having to face unknown situations that can lead to great economic losses;

- the principle of combining economic risk;

- the principle of solidarity, the distribution of damage. All insurance participants pay insurance premiums, and at the expense of a certain part of these contributions, the insurance funds of the insurance organization are formed. These funds are used to cover damage and losses arising from the occurrence of insured events. Each insurance participant pays a relatively small premium, but loses it if nothing happens. However, if an insured event does occur, he receives a large financial compensation, which is several times larger than the insurance premium paid by him. Solidarity is manifested in the fact that the insurance payment to an individual participant in the event of an insured event consists of the insurance premiums of all insurance participants, regardless of whether an insured event occurred to each of them or not";

- principle of financial equivalence- all cash, which for a certain period are collected from all insurance participants and are intended to compensate for damage, must be returned in the form of insurance payments for the same period.

Introduction

Insurance is a relationship to protect the property interests of business entities and citizens in the event of the occurrence of certain events (insured events) at the expense of monetary funds, insurance premiums formed and paid by them.

Insurance is an economic and financial category. Its essence lies in the distribution of damage between all participants in the transaction. Therefore, insurance is one of the most important elements economic relations. It is associated with compensation for material losses, which serves as the basis for the continuity and uninterrupted reproduction process.

Thus, in the current conditions of a long-term financial and economic crisis, the instability of the world's leading currencies and the unpredictability of the development of modern financial relations, the goal of this term paper- study of the theoretical and practical experience of organizing finance in insurance and identifying their features in the Republic of Belarus at the present stage.

To achieve this goal, the following tasks were set:

Analysis of the concept of finance in insurance and the basic principles of their organization;

Research of organizational and legal forms of insurance companies;

Determination of the features of the organization of the insurance business in the Republic of Belarus and possible directions for optimization and development.

Methods The studies of this work are general scientific research methods, such as dialectics, analysis and synthesis, comparison, systematic approach.

The object of the study is economy of the Republic of Belarus.

Subject of research- finance in insurance of the Republic of Belarus.

The author of the work confirms that the analytical material presented in it correctly and objectively reflects the state of the process under study, and all theoretical and methodological provisions and concepts borrowed from literary and other sources are accompanied by references to their authors.

The content of the basic principles of insurance

Insurance - it's a special kind economic activity associated with the redistribution of the risk of damage to property interests among participants in insurance (insured) and carried out by specialized organizations (insurers) that ensure the accumulation of insurance premiums, the formation of insurance reserves and the implementation of insurance payments in case of damage to insured property interests. At the same time, under redistribution of risks among insurers one should understand a special process in which the potential risk of damage to the property interests of each insured is distributed to all and, as a result, each insured becomes a participant in compensation for the actually caused damage. The key to such a relationship is payment of the insurance premium insurance premium) to the insurer providing the organization of the redistribution process. However, this does not mean that with a lack of collected insurance premiums, the insurer is free from compensation for damage caused to the economic entity. The peculiarity of insurance activity as a type of business lies precisely in the fact that it is inherent in well-known entrepreneurial risk, caused by the obligation of the insurer to compensate for the damage agreed in advance on the causes of occurrence and amount, including at the expense of own sources.

Insurance is carried out in cases where the probability of occurrence of risks can be assessed and there are certain financial guarantees from the insurers to compensate for the damage.

Insurance activities are related to the provision of insurance protection for carriers of property interests - policyholders - by redistributing insurance risks associated with their activities. Such a redistribution is possible only in relation to risks - random events, the occurrence of which entails causing harm to the life and health of citizens or causing damage to property, property interests of citizens and legal entities and is characterized both by chance and the likelihood of their occurrence. It is because of the accidental occurrence of an insured event from among the risks that can be taken for insurance, certain events are excluded. For example, it is difficult to imagine the possibility of carrying out insurance in case of January 1 or astronomical sunrise. However, the potential risk must be characterized by some the likelihood of it occurring based on evidence from previous experience. The absence of such data may make it difficult or impossible to assess the likelihood of such an event occurring in the future and its possible financial consequences (damage), which, in turn, will not allow the distribution of damage to all insurers, i.e. determine the share of each of them in the formation of the total insurance fund created to compensate for damage.

insurance associated with damages ( harm) caused to the property interests of the insurers in monetary form. The practice of conducting insurance has developed an optimal form of such relations with the participation of specialized organizations (insurance organizations) that form insurance funds from the contributions of insurers and those providing insurance payments.

3) the principle of equivalence.

The principle of having a property interest. In insurance, there is a fundamental principle: "without interest, there is no insurance." In other words, when it comes to, for example, property insurance, it means protection, insurance of interest associated with the safety of this property. To determine whether there is an insurable interest in each specific case of applying for insurance protection, it is necessary to answer the question: are there any circumstances related to the nature of the interest that could cause harm (damage) to the person concerned? If the answer to the question is yes, which means that there is a real possibility of causing harm (damage), then there is an insurable interest and insurance protection in relation to such an interest can be provided. The obligatory existence of the interest of the insured (beneficiary) in the preservation of property is established by law. This norm plays an important role in building appropriate insurance relations. In addition, when insuring property, it is not allowed to appoint a person who has no interest in preserving the insured property as a beneficiary under an insurance contract.

According to general rule the insurable interest must be present at the time of the conclusion of the insurance contract (in all types of insurance, except for cargo insurance), or the person concerned must have an insurable interest at the time of the insured event (in cargo transport insurance). During the validity period of the insurance contract, the insurable interest may be lost, for example, due to the loss of property for reasons other than the occurrence of the insured events. In this case, the insurance contract is terminated, but insurance premium, paid by the policyholder, is not returned, since every day during the period of validity of the insurance contract, during which the insurable interest existed and was protected by insurance protection, the insurer was liable in full, and at any time the risk that the insurer bore could be realized , both in a certain part and in the amount of 100% liability under the insurance contract.

Insurance is not allowed for the following interests:

illegal interests. Actions of individuals and legal entities are not allowed if they are carried out solely with the intention to cause damage (harm) to another person, as well as if these are intentions to abuse the right in other forms;

losses from participation in games, lotteries and betting. The claims of citizens and legal entities related to the organization of games and bets or participation in them, as a rule, are not subject to judicial protection;

3) expenses to which a person may be compelled in order to free the hostages.

In addition, the object of insurance cannot be the risk of liability for breach of contract, if it is not the risk of the insured, entrepreneurial risk a person who is not the policyholder, and risk of loss damage, destruction, disappearance) of property if the policyholder has no interest in preserving this property.

Risk insurability principle. Risk underlies insurance and in its most general form is defined as the probability of the distribution of the result economic activity and life activity of the subject in the areas of favorable and unfavorable deviations. The ambiguity and diversity of these results stem from the uncertainty of environmental factors, information deficiencies inherent in the decision-making process, internal features of the subject, etc. Thus, the uncertainty of environmental factors is manifested in the fact that the expected, predicted results from the decisions made by the subject and the performance of actions do not coincide with those actually manifested (turn out to be unattainable or fundamentally different), and randomness manifestations of these factors lies in the fact that they all manifest themselves independently of the will of the subject himself. In particular, these random and uncertain environmental factors can be detected as a result of the following manifestations:

in the natural environment - in the form of floods, earthquakes, mudflows, volcanic eruption, tsunamis, storms and other natural hazards and disasters;

in the technological and (or) technogenic environment - in the form of accidents in the life support systems of the enterprise (for example, in power supply systems); accidents in safety systems of various industries and, as a result, emissions of pollutants and their components; other accidents of technological and technogenic character;

in the public (social) environment - as the actions of the authorities, changes in legislation, dissatisfaction of the population with social and economic conditions life, which may manifest itself locally or universally in the form of strikes, lockouts, civil unrest, etc.;

in the market environment - as the formation of a negative image of the enterprise, the manifestation of the principles of competition, the recall of products from the market due to certain random reasons for their unsuitability for use by consumers, etc.

Randomness and uncertainty of impact factors of deficiencies (incompleteness, unreliability, ambiguity) of information or factors related to the internal characteristics of the subject can manifest itself in the probabilistic distribution of possible decision-making results that deviate from the expected, predicted result.

Risk as the probability of deviation of the actual result of the decision from the expected one, and in its negative manifestation, and accordingly as the distribution of the probabilities of adverse outcomes, can be evaluated economically, and therefore is most often used in insurance. For example, a deviation of the actual result from the expected one may manifest itself in the loss of property, in the loss of income of the enterprise as a result of the interruption of the production process, in the incurring of unforeseen expenses in connection with the obligation of the entrepreneur to compensate for the damage caused to third parties as a result of business decisions, etc. In other words, for the entrepreneur, all these manifestations are nothing but damage that can be assessed economically.

From all of the above it follows general criteria for risk insurability: a) the random nature of the events (factors) that caused the damage; b) the possibility of economic risk assessment; c) unambiguous allocation (identification) of risk; d) homogeneity and multiplicity of risks; e) risk subjectivity.

Random nature of events (factors), causing damage is the primary criterion in an insurer's decision as to whether the risk in question is insurable. Random character is manifested in the uncertainty of the fact itself ( e.g. in property insurance, liability) and/or time of occurrence of damage or event manifestations , leading to a negative result (for example, in life insurance). Accident must be clearly distinguished as the uncertainty of the fact and time of occurrence of negative manifestations of the insured event and the possibility their onset: chance does not negate the existence of possibility. But randomness is also uncertainty about the amount of possible damage. According to the theory of distribution of damages, which manifests itself in the form of a decreasing curve, small and medium damages are much more common than large ones. In the theory and practice of insurance, other manifestations of damages are also explored, for example, the frequency , with which, in one or another type of insurance, it is precisely large losses that are characteristic or uncharacteristic for this type of insurance that appear. This, however, does not mean that if major damage in insurance, for example, from fire or related risks, on average (of course, this depends on the type of object accepted for insurance, as well as on other risk factors) occurs once every five -six years, then it cannot occur both in the last year of such a conditionally allocated period, and in the first year of accepting a separately taken risk for insurance. In this sense, one can also talk about the randomness and uncertainty of the manifestation of risk in relation to the magnitude of possible damage.

Randomness means lack of will of the policyholder, aimed at the onset of an event that entails negative consequences. Otherwise, we are talking about deliberate, conscious actions of the insured, aimed at the occurrence of an event insured under the insurance policy. And losses caused by intentional actions are the basis for the release of the insurer from the obligation to indemnify them. In Belarusian law enforcement practice, this is the only case of manifestation of the will of the insured, which does not have signs of chance. The negligent actions of the insured in this sense are classified as accidental manifestations, unless otherwise provided by law. Indeed, quite often, damages resulting from the negligent actions of the insured are compensated by insurers according to the terms of insurance coverage (for example, auto insurance civil liability, liability insurance of doctors, etc.). It would be unfair to say that foreign practice is so unequivocal about the concept of negligence in insurance in the sense of the manifestation of the principle of randomness of events that entail the occurrence of damage. Thus, the laws of many countries (in particular, Germany, the Netherlands, Denmark) in this sense distinguish between negligence and gross negligence. Gross negligence is quite often equated with non-accidental intentional acts (an example is construction and installation insurance).

Possibility of economic risk assessment assumes that the consequences of the realization of the risk must be objectively measurable, i.e., on the one hand, it should be possible to determine the quantitative characteristics of the probabilistic distribution of damage, and on the other hand, it should be possible to estimate the maximum probable damage from the realization of the risk. It is important to take into account that the establishment of a quantitative characteristic of the probabilistic distribution of damage is very conditional, since quite often the quality of information about risk is not uniform. In general, information about risk itself is predominantly subjective. Moreover, the higher the degree of risk novelty (for example, in pharmacology, genetics, space industry, etc.), the lower the quality of the estimates.

The quantitative indicator of the probability of distribution of damages is manifested in the establishment the maximum possible damage. In the practice of insurance, various criteria (bases) for determining the amount of the maximum possible damage are used. These are the criteria of "maximum possible damage", and "maximum possible damage", and "maximum permissible damage", and many others. Large single damages are rare, but their consequences for the insurance organization can be ruinous, therefore, the establishment of the maximum possible damage is more related to the insurance technique, and along with it, to the criterion of risk insurability from the point of view of the subjective (financial) capabilities of each particular insurer. Thus, in addition to objective grounds the choice of one or another basis for establishing the maximum possible damage, subjective features are also taken into account portfolio of the insurer, its structure and quality content, the structure and quality of reinsurance protection and many other factors.

Unambiguous allocation (identification) of risk assumes that the risks (hazards) accepted for insurance must have a clear definition (identification ) in the insurance contract. Of course, such identification can be achieved through the formation of an insurance protection structure both on the basis of "named perils" and on the basis of insurance "against all risks". Thus, the concept of "named perils" implies that coverage is provided only against those perils that are clearly and unambiguously stipulated in the insurance contract. For example, in a fire and related risk insurance contract, this could be the base coverage "FLExA" (English abbreviation for Fire - Lightning - Explosion - Aircraft, which means "fire, lightning strike, explosion, fall of an aircraft or its parts"), bay tap water, flood, earthquake, etc. The idea of ​​the second concept lies in the fact that insurance protection is predetermined in relation to "all dangers", except for those that constitute the essence of the exceptions agreed in the insurance contract. The application of this concept of formation of insurance protection does not mean that the insurer accepts for insurance in aggregate without identification all the risks characteristic of the insurant's activities. Its peculiarity lies only in the fact that this identification is achieved through detailed exclusions from the scope of insurance coverage.

This criterion provides the insurer with the opportunity to reject the claims of the insured for damages that are not justified from the point of view of the uncertainty of the cause of the damage.

Homogeneity and multiplicity of risks is one of the defining criteria of insurance. Insurance as a mechanism for distributing the losses of one entity among many other entities through the formation of a special fund from the funds paid by each of the given set of entities allows us to single out such a criterion as homogeneity and multiple risks. So that the risk can be insured, it is extremely important that it can be attributed to any category of homogeneous risks. It is this factor that makes it possible to apply the theory and practice of the probabilistic distribution of damages. It is also important, however, that the selected group of homogeneous risks has signs of multiplicity, those. so that the law of large numbers applies to it. This, on the one hand, serves as a prerequisite for estimating the probability of an event occurring, and on the other hand, it makes it possible to put such estimates into an insurance mechanism, in particular, to determine the amount of the insurance premium paid by the insured to the insurer for the risk accepted by the insurer for insurance. If the multiplicity of homogeneous identified risks is sufficient, this makes it possible to establish an acceptable cost of insurance protection for the consumer. Otherwise, the model of insurance protection for risks that do not meet this criterion may become ideal, but not in demand by the consumer due to its high cost.

Applied to the criterion risk subjectivity we can say that the risk should have an impact on the results of a particular subject, whose property interests accepted for insurance. The very fact of the manifestation of risk is not yet a sufficient basis for making a judgment about the presence of an insured event. Such a realization of the risk should affect the interests of a particular insured. And if the risk itself is objective, then the result of its manifestation, which can be insured, is always subjective, or, in other words, subjective, and is projected in the form of negative consequences on a particular policyholder.

Principle of equivalence states: according to the results of certain periods of time or allocated tariff periods / periods of insurance (ideally, they must be correlated with the frequency of occurrence of small, medium, large damages), principle of economic equality between the total amount of the net insurance premium paid by a specific policyholder for the tariff period and the total amount of indemnities paid by the insurer in connection with the occurrence of insured events for the specified period.

In the doctrine and practice of implementing insurance legal relations, the following fundamental principles are distinguished:

4) the principle of indemnity;

5) the principle of subrogation.

The principle of the highest confidence parties is also known as the legal doctrine Uberrimae fidei. The principle of the highest trust of the parties (Utmost Good Faith), or the principle of utmost honesty, is the fundamental principle of any insurance contract. The content of this principle consists in the unconditional obligation of the parties to the insurance contract to disclose to each other all significant circumstances related to it. In 1928 the famous English judge Scrutton said in Rozanes v. Bowan: "Since the insurer knows nothing about the object of insurance, and who comes to him for insurance knows everything, the duty of the insured is to fully disclose to the insurer all material circumstances, even without being asked about it." This is precisely what is meant when one speaks of an agreement based on the highest confidence of the parties. Thus, the policyholder, applying for insurance coverage in relation to a particular risk, is obliged to disclose to the insurer any significant circumstance before concluding the contract, which he knows about the risk to be insured. As a general rule, the policyholder is considered to be aware of any circumstance that in the ordinary course of business he should know.

The principle of the highest confidence of the parties is also manifested in institute of guarantees ( Warranties). In English law, the provisions of a contract are traditionally divided into conditions and guarantees, those. relatively less important (or additional) provisions of the insurance contract, imposing on the policyholder the obligation to maintain a certain state of affairs, to take or not to take any action during the period of validity of the insurance contract.

Belarusian legislation states that when concluding an insurance contract, the policyholder is obliged to inform the insurer of the circumstances known to the policyholder that are essential for determining the likelihood of an insured event and the amount of possible losses from its occurrence (insurance risk), if these circumstances are unknown and should not be known to the insurer. At the same time, circumstances that are specifically stipulated by the insurer in the standard form of the insurance contract are recognized as significant ( insurance policy) or in his written request. Thus, when concluding an insurance contract, the insured is obliged inform the insurer of all circumstances known to him , essential for determining the degree of insured risk, as well as the amount of possible losses from its occurrence, if such circumstances are unknown or should not be known to the insurer. At the same time, at least those circumstances that are clearly and unambiguously indicated (requested by the insurer in the standard form of the insurance contract (insurance policy) or in his written request are recognized as material. Such a written request, as a rule, is a written application for insurance , filled in by the policyholder prior to the conclusion of the insurance contract. Typically, such standard application forms are developed by the insurer for each type of insurance, taking into account its features.

The legal consequences of violating the principle of the highest confidence in Belarusian law are as follows: if, after the conclusion of the insurance contract, it is established that the insured informed the insurer of knowingly false information about the circumstances that are materially related to the risk accepted by the insurer for insurance, the insurer has the right to demand that the contract be recognized as invalid.

Principle payment of insurance compensation in the amount of actual loss states: the indemnity paid by the insurer must return the insured who has suffered damage to exactly the same financial position as he was before the damage occurred, i.e. insurance cannot serve as a means of extracting benefits, but must fulfill its main function - to protect the insured from the adverse consequences of the manifestation of the insured events, expressed in damage.

The principle of a causal relationship between loss and event that called it. Determining the cause of damage is important for resolving the issue of insurance payment. The event, in the event of which the insurance is carried out, is one of the essential conditions of the life insurance contract. Particularly important is a clear statement of the cause that caused the occurrence of the insured event, as well as the separation of the actual and immediate causes of its occurrence. In practice, to determine whether an event is insured or not, the actual cause is considered. its occurrence. For example, one of the most common exceptions to coverage under a life insurance contract is the death of the insured as a result of suicide or attempted suicide (during a certain period of the policy). So, if the insured dies in a car accident, then the direct cause of his death is an injury received as a result of a traffic accident, which falls under the definition of an insured event, and insurance coverage must be paid. However, in the future it may turn out that the insured has repeatedly tried to commit suicide and in this case deliberately drove into the oncoming lane in order to lose his life. Thus, the actual cause of his death was suicidal tendencies, in which case no insurance coverage would be paid.

Contribution principle is a natural development of the principle of payment of insurance compensation in the amount of the actual loss, designed to prevent the insured from deriving benefits from insurance. It is designed to control the distribution of the amount of compensation between insurers in case of double and multiple insurance in such a way that the insured cannot receive compensation twice or several times for the same event.

The action of the principle of indemnity is subject to general legal norms, which are as follows. To talk about the applicability of the principle of indemnity, there must be at least two policies that protect: a) the same insurable interest; b) in relation to the same subject of insurance; c) from the same danger. If sum insured specified in the property or business risk insurance contract exceeds the insured value as a result of insuring the same object with two or more insurers, the contract is void in that part of the sum insured that exceeds the insured value. The principle of subrogation, or transfer to the insurer that paid the compensation, the right to claim ( within the amount of compensation paid) that the policyholder has against the person responsible for the losses, suggests the following. Unless otherwise provided by the property insurance contract, the insurer that paid the insurance indemnity shall, within the limits of the amount paid, have the right to claim that the insured (beneficiary) has against the person responsible for the damage caused. The right of claim transferred to the insurer shall be exercised by him in compliance with the rules governing relations between the insured (beneficiary) and the person responsible for the losses. As part of the exercise of this right, the insured (beneficiary) is obliged to transfer to the insurer all documents and evidence, as well as to inform him of all the information necessary for the insurer to exercise the right of claim that has passed to him. Refusal to transfer documents, evidence, information, etc., or, if the exercise of this right has become impossible due to the fault of the insured (beneficiary), entails the release of the insurer from the payment of insurance compensation in full or in its corresponding part, in other words, the insurer has the right demand a refund of the overpaid amount of compensation. So the insurance is a special type of economic activity associated with the redistribution of the risk of damage to property interests among participants in insurance (insured) and carried out by specialized organizations (insurers) that ensure the accumulation of insurance premiums, the formation of insurance reserves and the implementation of insurance payments in case of damage to insured property interests.

Among the fundamental principles of insurance, one should distinguish between the economic principles of the functioning of the insurance system and principles of implementation of insurance legal relations.

to fundamental economic principles insurance include:

1) the principle of existence of insurable interest;

2) the principle of risk insurability;

3) the principle of equivalence. The main principles of the implementation of insurance legal relations include:

1) the principle of the highest confidence of the parties;

2) the principle of payment of insurance compensation in the amount of the actual loss;

3) the principle of a causal relationship between the loss and the event that caused it;

4) the principle of indemnity;

5) the principle of subrogation.

Insurance is a special type of economic relations designed to provide insurance protection for people (or organizations) and their interests from various kinds of dangers.

Insurance is a system (method) for protecting the material (property) interests of insurance market entities (individuals and legal entities), the threat to which always exists, but is not mandatory.

The term "insurance" is primarily associated in the mind of a person with the word "fear" (fear for the safety of one's property, for one's health, life, etc.). It was the fear of material losses and the need to compensate them that caused the emergence of insurance.

Insurance in the narrow sense is a relationship (between the insured and the insurer) to protect the property interests of individuals and legal entities (insured) upon the occurrence of certain events (insurance events) at the expense of monetary funds (insurance funds) formed from the insurance premiums paid by them (insurance premium ).

ESSENCE OF INSURANCE

Almost any area of ​​economic activity is risky, as there is always the possibility of incurring financial losses caused by adverse events or their consequences. A possible danger realized by a person finds its expression in the concept of "risk". In a society in which commodity-money relations operate, risk from an everyday concept becomes an economic category.

Usually the concept of risk (the riskiness of the situation) is associated with the possible future negative consequences of the event. Risk is a future probable event with negative economic consequences unknown sizes. The actual adverse outcome of the risk is expressed in terms of damage, which is subject to a specific material measurement. The factor of the presence of risk and the need to compensate for possible damage requires the organization of a mechanism to protect against accidents.

The Company uses various measures that allow predicting the likelihood of a risk with a certain reliability, which makes it possible to reduce its negative consequences. One way to manage risk is the insurance system. The essence of insurance lies in the emergence of monetary - redistributive relations between policyholders and insurers. These relations are carried out by means of insurance reserves (cash funds) specially created from the money of insurers.

Thus, the essence of insurance is the creation of insurance funds at the expense of contributions from parties interested in insurance and intended to compensate for damage. The essence of insurance is implemented through special functions.

FUNCTIONS OF INSURANCE

The economic essence of insurance is embodied in functions that reflect in reality the social purpose of this category.

Insurance does nothing. It only distributes the created social product, closing the natural Disasters and other causes interruptions in production, distribution, exchange and consumption.

Thus, insurance, through its inherent distributive function, contributes to the continuity of social reproduction at all its stages.

The main distributive function of insurance is realized through auxiliary specific functions peculiar only to insurance: risky, preventive and savings.

The risk function of insurance provides insurance protection against various kinds of random events leading to losses. As part of this function, the redistribution of monetary resources between all insurance participants takes place in accordance with the current insurance contract, after which the insurance premiums (cash) are not returned to the insured. This function reflects the main purpose of insurance - protection against risks. There is a risk - there is a potential for insurance with all its attributes, its manifestations.

The preventive function of insurance is implemented in reducing the degree of risk and destructive consequences of an insured event. It is carried out through financing at the expense of the insurance fund of various measures to prevent, localize and limit the negative consequences of disasters, accidents, accidents. In order to implement this function, a special monetary fund is formed.

In addition to these specific functions, insurance performs investment, credit and control functions.
The investment function of insurance makes it possible to participate temporarily free funds insurance fund in investment activity insurance organizations, in replenishment at the expense of a part of the profit from insurance and other business transactions state budget revenues.
V credit function insurance is the return of insurance premiums.
The control function is organically connected with the credit side of the essence of insurance. The insurer receives money from insured clients on credit. Insurance reserves (funds) formed from a large part of the money (contributions) of the insurers are their property. The control function of insurance consists in the strictly targeted formation and use of the insurance fund. Implementation is carried out through financial control over the legal conduct of insurance operations.

Principles of insurance

Insurance activity is based on the principles of equivalence and randomness.

The principle of equivalence expresses the requirement for a balance between the income of an insurance organization and its expenses. Risk threatens many people, but only a few of them are really affected by insured events. Payments for insured events are covered by the contributions of many insurers who have avoided this risk.

The principle of randomness is that only events that have signs of probability and randomness of their occurrence can be insured. Intentionally performed actions are not insured, as they lack the principle of chance.

Basic principles of insurance:
- insurance activity is based on the principles of equivalence and randomness;
- the principle of equivalence expresses the requirement for a balance between the income of an insurance company and its expenses;
- presence of insurable interest;
- payment of insurance compensation only if an insured event occurs;
- only a certain risk damage is insured, which is subject to a monetary assessment.

Signs of insurance:
- emergency, which connects insurance with a certain protection of social production;
- isolation, when the distribution of damage between the insured is based on the fact that the number of victims is always less than the total number of the insured;
- compensability of damage, in which the more the territory covered by the insurer and the number of insured objects, the more effective the redistribution of funds (payment of maximum damage for minimum contributions);
- repayment of payments made in the specified territory on average 5 years.

TYPES OF INSURANCE

In accordance with the law "On the organization of insurance business in the Russian Federation", the totality of insurance relations can be divided into several types of insurance. The division of insurance into types is based on differences in the objects of insurance.

The type of insurance is the insurance of specific homogeneous objects in a certain amount of insurance liability at the appropriate tariff rates. Insurance relations between the insurer and the insured are carried out by types of insurance. Consider the most common types of insurance.

The legislation provides for four main types of insurance: personal, property, liability insurance, business risk insurance.

The main difference between these types from each other is what the insurance contract is aimed at. When insuring the property of individuals and legal entities, some material assets belonging to them act as the object of insurance. With regard to life insurance, the subject of insurance is the health, life and ability to work of the insured person. In the case of liability insurance, the subject of insurance is the liability of the policyholder to third parties. In this case, the insurer shall indemnify third parties for damage caused by the actions or omissions of the insured.

The law also lists the types of insurance that cannot be insured: related to illegal actions, related to gambling, expenses to which a person is compelled in order to free the hostages.

Personal insurance

In this type of insurance, the object is property interests related to life, health, working capacity and pension provision policyholder or insured person. Personal insurance includes: life insurance, accident and illness insurance, medical insurance.

In a personal form of insurance, the insurer assumes the obligation to pay the amount stipulated by the contract if the occurrence of an insured event entails damage to the health of the insured (insured person) or his death. Payment of the sum insured can be made at a time or periodically. All types of insurance in personal insurance are tied to an independent object and a list of insurance risks provided for in each specific insurance product.

As types of personal insurance of citizens can be named:
- mixed life insurance;
- accident insurance;
- insurance in case of death and disability;
- insurance of children;
- health insurance;
- additional pension insurance;
- other types of personal insurance.

property insurance

In property insurance, the object of insurance is property interests related to the possession, use and disposal of property.

The type of property insurance is divided into property insurance individuals and property of legal entities. This includes insurance for buildings, household goods, animals, vehicles, and more. The property insurance contract stipulates the obligations of the insurer to compensate the insured or the beneficiary for material damage in the insured property in the event of an insured event. In this case, the payment of compensation is limited to the amount specified in the contract of this type of insurance.

When insuring property, there are the following risks against which insurance protection is provided.
The first is insurance against fire, flood and other natural disasters, in which case the object of insurance can be buildings, structures, equipment, goods, household movables and real estate and much more.
The second risk is damage to property by water from central heating systems, plumbing systems, as well as sewerage and other things.
The third kind of risk is intentional damage to property by third parties. This can include hooliganism and so on.
The fourth type of insurance risk may be the theft of property as a result of illegal entry, robbery or seizure.

This type of insurance has spawned a variety of insurance products. You can insure financial risks related to loss of income due to shutdown production process as a result of an insured event. Property insurance can be a way out in case of bankruptcy of counterparties or failure to fulfill their obligations, as well as in a number of other cases. Property insurance includes:
- insurance of means of land transport;
- insurance of means of water transport;
- air transport insurance;
- cargo insurance;
- insurance of other types of property, except for those listed above;
- business insurance;
- insurance of financial risks.

Types of property insurance are also:
- property insurance against fire;
- property insurance against a hurricane;
- property flood insurance;
- insurance against losses due to stoppage of production;
- many other types of property insurance.

Liability Insurance

This type of insurance provides, as an object of insurance, liability to third parties (citizens or enterprises), which can potentially be damaged due to any actions (inaction) of the insured. The liability insurance contract shifts liability for possible damage to the insurance company, which undertakes to compensate the insured for the amounts that he must pay to third parties as compensation for the damage caused. This type of insurance protects the property of the insured and insures his liability for potential harm to the health and property of citizens and legal entities.

Liability insurance is one of the most numerous types of insurance, with a large number of varieties. On its basis, there are also many insurance products. Liability insurance includes:
- insurance of civil liability of enterprises - sources of increased danger;
- civil liability insurance of vehicle owners;
- civil liability insurance of the carrier;
- liability insurance for non-fulfillment of obligations;
- professional liability insurance;
- insurance of other types of civil liability.

The types of liability insurance are also:
- insurance of the employer's liability in case of harm to the health of the employee;
- third party liability insurance (owner of motor vehicles, CASCO, OSAGO);
- liability insurance of shipowners;
- insurance of personal liability to third parties due to the negligence of the insured or members of his family;
- liability insurance of the manufacturer of goods (intermediary or seller) to consumers and others for harm, illness or loss (damage) resulting from the supply of goods;
- professional liability insurance (for example, a lawyer, notary, doctor and other specialists);
- other types of liability insurance.

Entrepreneurial risk insurance (business)

In this type of insurance, the object of insurance is property interests related to compensation for losses to the entrepreneur, as well as lost income from doing business, provided that his counterparties violate their obligations or other changes in the conditions of activity due to circumstances beyond the control of the entrepreneur.

In business activities, insurance is used quite often - in cases where possible losses are significant and critical for financial condition of the insured person and their occurrence cannot be predicted. This type of insurance reduces the necessary reserves for contingencies and helps protect the business from too large one-time losses.

Types of business risk insurance are:
- insurance against business interruption due to loss or damage to property as a result of fires, explosions, accidents and other events;
- insurance of investments against political and commercial risks;
- non-payment risk insurance;
- deposit insurance;
- insurance of financial guarantees;
- insurance of export credits, etc.

Insurance can be state and non-state. State insurance is a form of insurance organization in which the insurer is state organization. Currently, state insurance is carried out under the conditions of a partial state monopoly on certain types of insurance.

Non-state (share and mutual) insurance - non-state insurers can act legal entities any organizational and legal form provided for by the legislation of Russia.

Insurance can be carried out in voluntary and mandatory forms.
Voluntary insurance - insurance on the basis of an agreement between the insured and the insurer. Insurance rules are established by the insurer.
Compulsory insurance - insurance by virtue of law. Types, conditions and procedures compulsory insurance determined by the relevant laws of Russia.

Mandatory, as a rule, are the following types insurance:
- health insurance;
- passenger insurance;
- state personal insurance of civil servants;
- personal insurance at the expense of the employer of citizens engaged in life-threatening activities;
- life and health insurance for aircraft crew members;
- liability insurance in case of damage during construction;
- fire insurance.

Insurance funds

Insurance, being a category of distribution, expresses certain relations of production arising in connection with the formation and use of the insurance fund.

The insurance fund is a reserve of monetary or material resources formed at the expense of the contributions of the insurers and is in the operational and organizational management of the insurer.

There are three main forms of organization of the insurance fund.

Centralized insurance (reserve) funds created at the expense of budgetary and other public funds. The formation of these funds is carried out both in kind and in cash. State insurance (reserve) funds are at the disposal of the government. Their task is to compensate for damage from natural disasters and large-scale accidents.

Self-insurance as a system for the creation and use of insurance funds by business entities and people. These decentralized insurance funds are created in kind and in cash. They are designed to overcome temporary difficulties in the activities of a particular commodity producer or person. The main source of formation of decentralized insurance funds is the income of an enterprise or an individual.

Actually insurance as a system of creation and use of funds of insurance organizations at the expense of insurance premiums of parties interested in insurance. The formation of the fund takes place in a decentralized manner, since insurance premiums are paid by each insured separately. He only has monetary form. The use of these funds is carried out to compensate for the damage incurred in accordance with the terms and conditions of insurance.

Legal basis of insurance

On the insurance market In the Russian Federation there are insurers with various organizational and legal forms ( joint-stock company, limited liability company, etc.).

The legislation of the Russian Federation does not establish any exemptions regarding the organizational and legal forms of commercial insurance organizations. The only requirement is that only a legal entity can act as an insurer.

The founders of an insurance company can be both individuals and legal entities, including foreign ones.

In the system of measures state regulation includes the following:
1. Licensing - registration of insurance organizations and issuance of licenses to them for insurance activities and for carrying out certain types of insurance. A license to conduct insurance activities is issued in accordance with the conditions for licensing insurance activities in the territory of the Russian Federation.
2. Collateral control financial stability insurers.
3. Development of forms and order statistical reporting, timely submission control financial reporting insurance organizations.
4. Taxation of insurers and policyholders.
5. Other measures of state regulation of insurance activities, including control over compliance with the procedure for payment of insurance indemnities.

The legal basis for insurance is the Civil Code of the Russian Federation, Law of the Russian Federation No. 4015-I dated November 27, 1992 "On the Organization of Insurance Business in the Russian Federation" (as amended on December 31, 1997, November 20, 1999, March 21, April 25, 2002, 8 , December 10, 2003, June 21, July 20, 2004) and other regulatory documents.

These are the functions:

risky;

Function of formation and use of insurance reserves;

Savings;

preventive;

Investment;

Control

Risk function (function of insurance protection)lies in transfer to the insurer(for a fee) liability for the consequences of the risk in the event of the occurrence of insured events provided for by the current legislation or the insurance contract.

It is within the framework of the risk function that the objective need for insurance protection is determined, because in the course of its implementation, a part of the insurance fund is redistributed among the affected insurance participants in connection with the negative consequences of insurance events.

Function of formation and use of insurance reserves defines the nature of insurance as economic category. By creating a sufficient amount of insurance reserves(by paying insurance premiums) compensation for material damage upon the occurrence of insured events or the payment of sums insured upon expiration of the life insurance contract. The right to cover losses and insurance payments are only those individuals and legal entities who who are direct participants in the formation of the insurance fund. The implementation of this insurance function also occurs in the process of managing insurance reserves in order to generate income and profit.

Insurers are required to adhere to the following solvency conditions:

Availability of paid statutory fund and availability of guarantee fund of the insurer;

Creation of insurance reserves sufficient for future payments of sums insured and insurance indemnities;

Excess of the actual solvency margin of the insurer over the estimated normative solvency margin.

Rice. 13.1. Insurance features

Minimum size the authorized fund of the insurer, which deals with types of insurance other than life insurance, is established in the amount equivalent to 1 million Euro , and an insurer that deals with life insurance, - 1.5 million euros at the exchange rate of the currency of Ukraine.

TO insurer's guarantee fund includes additional and reserve capital, as well as the amount retained earnings.

Insurers at the expense of retained earnings can create free reserves.

Free reserves - this is a part of the insurer's own funds, which is reserved in order to ensure the solvency of the insurer in accordance with the accepted methodology for carrying out insurance activities.

Insurers can create centralized insurance reserve funds to ensure the fulfillment by insurers of obligations for certain types of compulsory insurance and the bodies that manage these funds.

savings function characteristic long term life insurance, in which the sum insured is accumulated, stipulated in the contract, and paid to the insured at the end of the insurance period, provided that there is no insured event during the validity of the insurance contract.

Preventive function displays relationships, aimed at preventing possible losses and reducing their consequences from adverse insured events. The implementation of this function provides for a wide range of preventive and repressive measures, their financing at the expense of part of the insurance fund in order to reduce the insurance risk.

Investment functioninsurance provides placement of temporarily free funds of the insurer in various assets on the terms of security, repayment, profitability and diversification. Insurers, due to the specifics of the redistribution of funds by the method of insurance, have the opportunity to use and dispose of the accumulated funds of policyholders. These funds can be invested in the economy in the form of direct investments, through stock market, or through financial intermediaries for profit.

control functioninsurance is due to the target orientation in the use and formation of insurance funds and reserves, which requires appropriate control. Financial control is exercised over the correct conduct of insurance and investment operations, the optimal formation and targeted use of insurance capital.

Insurance is based on basic principles , that is, the initial provisions that ensure its operation as an economic instrument. At the same time, insurance distinguishes general and specific principles (Fig. 13.2.).

General principles insurance:

The principle of free choice of the insurer and type of insurance means that all policyholders are given the right and opportunity to elect any insurer that has a license to carry out insurance. Insurers are guaranteed a free choice of types of voluntary insurance and equal opportunities in carrying out their activities.

Insurance risk principle – the probability of the occurrence of an insured event, which expresses the amount of possible liability of the insurer for a particular type of insurance. A specific manifestation of the implementation of insurance risk is an insured event, that is, the actual occurrence of an unforeseen event.

Rice. 13.2. Principles of insurance.

Principle of insurable interest means that the policyholder will conclude an insurance contract only if there is a corresponding interest in the organization of protection in case of loss of property, health or life. This guarantees getting certain income in the event of specific events occurring.

The principle of maximum conscientiousness is an the principle of mutual truthfulness between the insurer and the insured. The policyholder must provide the insurer with all information about the object of insurance in order to assess the risk and determine the price of the insurance service, and the insurer is obliged to correctly determine the loss and pay the insurance indemnity.

The principle of reality of insurance protection provides for the payment of compensation in the amount of real loss. The implementation of this principle requires the creation of conditions under which the goal of insurance is achieved, and for this it is necessary to adhere to specific principles of insurance.

specific principles insurance are:

The principle of payment providing for the transfer of risk from the insured to the insurer for an appropriate fee.

Continuity principle means that in order to receive an insurance payment, a person must have a permanent insurance contract, since in its absence the insurance payment will not be made.

Recurrence principle provides that in the event of an insured event, insurance payments are returned to the insured in the form of insurance compensation (if risk insurance) or sum insured (for life insurance).

The principle of diversification means the possibility of carrying out the activities of the insurance company outside the main business. We are talking about the dispersion of risks taken for insurance by territorial and sectoral characteristics, as well as the investment activity of the insurer.

franchise principle provides for a part of the losses, which, according to the insurance contract, is not reimbursed by the insurance company, that is, the insured's own participation in the reimbursement of losses. This principle is applied in order to avoid payment for small losses, create an economic interest among policyholders, and protect insurers from abuse by policyholders.

The principle of subrogation means the transfer to the insurer that paid the insurance indemnity of the right to claim (right of recourse) to the person responsible for the loss caused.

The principle of contribution according to which one Insurance Company requires another or other companies to distribute among themselves the payment of insurance compensation in case of insurance of the same object at the same time by several companies against the same risks.

Coinsurance and reinsurance principle used in insurance to ensure reliable insurance protection, solvency and financial stability of the insurer.