Reliable protection of property interests At the occurrence of an insured event is insurance of financial risks. Insurance is carried out by specialized insurance companies at the expense of financial funds formed by the admission of insurance premiums. When insuring, the insured is ensured by systematic and non-systematic insurance protection on the main types of financial risks. The amount of compensation upon the occurrence of insured cases will depend on several factors:
- the cost of the insurance object (estimated value);
- summary of the sum insured under the financial risk insurance contract;
- the size of the insurance premium (insurance premium).
Insurance services market in the territory Russian Federationensuring reliable insurance of financial risks is quite wide. Insurance is grouped by a number of basic signs:
- insurance form;
- insurance objects;
- insurance volumes;
- insurance systems;
- insurance types.
Form insurance
Insurance of financial risks is mandatory and voluntary. With compulsory insurance, the main object of insurance is the financial assets that are part of the operational fixed assets at the insurer formed at the expense of equity. The loss of uninsured assets (operating fixed assets) causes a significant decrease in financial sustainability at the Insured enterprise. Therefore, the insurance of financial risks can be considered as defense against the reduction in the level of financial instability of own capital of the policyholder.
With a voluntary form of insurance, the relationship between the insurance participants add up on a voluntary basis and depend on the persecuted insurance interest of each of them. The voluntary form of insurance allows the insurer to evade the financial risks unprofitable and dangerous for him, and the insured is reasonably and effectively disposed of its monetary assets.
Insurance facilities
The following main groups include insurance objects:
- property insurance;
- personnel insurance;
- liability Insurance.
Property insurance covers all types of intangible and material assets of the enterprise. Insureders can act as the owners of the respective assets and legal entities responsible for their safety (lessee, tenants and others).
In the property insurance for the insured, the duty includes timely payment of insurance premiums, determined by the contract of insurance of financial risks. For the insurer - ensuring the reimbursement of financial damage when an insured event occurs.
Personnel insurance allows you to insure the life and health of the staff of the policyholder, as well as the possible loss of their disability, disability and so on. This type of insurance is voluntary, financed by the profit of the enterprise in accordance with the collective labor agreement.
When insuring responsibility, the object of insurance is the responsibility of the enterprise, as well as its staff, to third parties for incurred financial damage in improper execution or non-fulfillment of the functional duties of the policyholder. Insurance of financial risks will provide insurance protection for the insured from financial losses, possible upon presentation of the requirements of third parties to reimburse the damage obtained.
Insurance volumes
Insurers are allocated groups in terms of insurance volumes: partial and complete insurance. In case of partial insurance, insurance protection of the insured from possible negative consequences in the case of insurance events is limited. As a rule, this is manifested in a limited amount of insurance compensation.
With full insurance, the insured is ensured by insurance protection in full upon the onset of possible insurance events that caused the negative consequences of financial risks.
Insurance systems
Insurance of financial risks depends on the insurance systems used:
- first risk system;
- system of proportional responsibility;
- unconditional franchise system;
- system of conditional franchise;
- the system of valid value of the property.
When insuring the first risk system, the insurer is reimbursed by financial damage, which suffered an insured when accomplishing the insured event, but no more than the amount of the insurance amount defined in the previously concluded insurance contract.
With a proportional responsibility, the insurer provides partial insurance protection for certain types of financial risks. The size of insurance compensation is determined using the insurance coefficient.
When insuring the system of unconditional franchise, the insurer receives insurance compensation minus the amount of the franchise size. As for insurance using the conditional franchise system, the insurer has insurance indemnity only if the amount of damage from the occurrence of the insurance event exceeds the size of the franchise.
When insuring the system of valid value of the property, the insured is ensured by complete insurance protection in full of financial damage.
Types of insurance
Financial risk insurance is classified on subspecies that are an independent type of insurance:
- asset insurance (property);
- the risk insurance of calculations (credit risks);
- insurance of deposit risks;
- insurance of investment risks;
- insurance of indirect financial risks;
- insurance of financial guarantees;
- other financial risks insurance.
The concept of insurance is determined by federal law<Об организации страхового дела в Российской Федерации> On November 27, 1992, in accordance with the law, insurance is a relationship on the protection of property interests of physical and legal entities Upon the occurrence of certain events (insured events) through cash funds generated from insurance premiums paid by them (insurance premiums).
Insurance is part of the Company's financial relations system, as it is related to the formation and use of insurance funds. Providing insurance protection is the type of financial services that are manufactured and selling insurance organizations. At the same time, insurance has a number of features that distinguish it from other elements of the financial system.
First, the economic nature of insurance funds are ambiguous and interpreted in different ways different countries. In economic theory there are two alternative points of view on this issue: depreciation and redistribution. The first point of view is historically earlier and natural. According to her, the insurance fund has a depreciation nature. Just as the depreciation fund serves for the purposes of simple reproduction of fixed assets, losing its consumer value as a result of physical wear, the insurance fund ensures the restoration of the material values \u200b\u200bof the Company, lost due to natural disasters, fires, accidents and other risks. Thus, the insurance fund is a simple reproduction foundation. For this reason, insurance costs, as well as depreciation deductionswere originally treated on production costs.
No one questioned the economic nature of depreciation funds, although it is known that they actually perform the functions of not only the simple restoration of the departing fixed assets, but also their expanded reproduction on a new quality basis. The problem is solved by state regulation of norms and depreciation rules.
The insurance fund is in its economy nature is a more complex element of the reproductive process, it is more universal and, at first glance, is less mandatory than the depreciation fund. The differences in the depreciation fund and the insurance fund are manifested in the following:
- the company cannot function normally if it does not provide reproduction of its fixed capital through the formation of the depreciation fund. However, the insurance of enterprise funds from all kinds of risks may seem unnecessary due to the probabilistic nature of insurance events;
- depreciation concerns only fixed capital, and insurance covers all elements of material wealth both in the production and non-production sector;
- the depreciation fund is an individual reproduction fund that exists at each individual enterprise. The insurance fund is not an individual reproduction foundation, it is always a collective foundation formed by many subjects, and payments from it are going to those who have come into relevant circumstances.
The most important feature of insurance is the unknownness of its necessity for a separate subject. As a result, the redistribution concept of the Insurance Fund has emerged, considering it as a product of relations between the secondary redistribution of national income.
As the regulatory functions are strengthened in the economy, it began to conduct election policies for assessing the significance of various parts of the Insurance Fund in the process of public reproduction and to regulate the financing of insurance premiums at the expense of costs or net profit of enterprises. Similarly, individuals have different tax breaks For certain types of insurance, which are particularly important to preserve household viability.
In socialism it was believed that insurance funds are extremely redistributive, i.e. They are formed on the basis of the redistribution of money incomes and the accumulations formed in the process of primary distribution of national income. It was quite natural in the conditions of a monopoly of state ownership of the means of production, when enterprises had no need to insure their property and income. In the conditions of a market economy, the situation has changed, has the need to include the Insurance Fund in the number of plants of simple reproduction.
With the introduction of ch. The 25 Tax Code of the Russian Federation significantly expanded the capabilities of enterprises for insurance of their risks. Insurance premiums on the obligatory and many types of voluntary property insurance since 2002 are included in the cost of production and sales of products, and are taken into account as part of other expenses (Art. 263 of the Tax Code of the Russian Federation). The costs of labor costs include the amount of employers' payments on mandatory life insurance and, with certain restrictions, contributions to voluntary insurance of life, pension and medical insurance (Article 255 of the Tax Code of the Russian Federation).
The funds of this fund are spent to compensate for damages only its participants. Thus, insurance is based on the background that the number of insured in the insured event is significantly less than the total number of participants in the insurance fund regularly paying contributions. At the same time, the insured has the right to insurance pay only if the insured event occurs. In the property insurance, this means, in particular, that the insured cannot demand back its money paid in the form of an insurance premium for many years, even if the insured event does not occur. However, even in this case, its costs are not in vain. He buys the insurance service, the essence of which is dual. On the one hand, this is the liberation of the client from risk. On the other hand, this is the obligation of an insurance company to pay insurance compensation in the event of an insurance event caused by certain treaty reasons.
The insurance feature is the redistribution or leveling of damage through the territory and in time. Dynamics of damage is uneven, they are not affected equally all territorial units. This circumstance creates the possibilities of laying damages on the territory and expands the financial capabilities of insurance. The unevenness of the occurrence of damages over time generates the need to reserve a part of insurance payments to compensate for emergency damages in unfavorable years.
For successful risk leveling, insurance organizations pay considerable attention to the rationale for the sizes of insurance premiums paid by the insureders (insurance premiums). The size of the insurance premium is determined taking into account the likelihood of the onset of damage and its intended size. As part of the insurance technology, such risk leveling tools are used as insurance premiums during premiums, co-insurance and reinsurance schemes.
The main insurance prerequisites as financial services are:
- the presence of a risky community;
- implementation of insurance payments only under the condition of the insured event;
- insurance of only certain risks, the damage from the onset of which is subject to a monetary assessment.
The risky community is a certain number of persons or economic units, subject to the same risk. For example, the homeowners of this settlement form a risky community under threat of risk of fires, natural disasters, etc. Persons belonging to the risk community are potential insurers.
The second premise means that the right to the insurance company's insurance company receives only when an insured event occurs. This condition is precisely fixed by the rules and insurance contract and ensures the preservation of the insurance fund in the interests of all its participants.
The third premise means that not all risks can be insured. Only those risks are insured, the damage from the onset of which can be assessed in cash. This includes all types of property damage and loss of income. The risks are not insured, to evaluate which there are no objective prerequisites.
Insurance activities are based on equivalence principles and chance.
The equivalence principle expresses the requirement of equilibrium between income and expenses of the insurance company. The risk threatens many individuals and legal entities, but only a few of them are indeed affected by the insured events. In this fact, the insurer's activities are founded. Insurance cases are covered from contributions of numerous insureders who are not affected by this risk.
Income from insurance activities are addressed from insurance premiums paid by the insureders. Expenditures are presented by insurance payments and the cost of maintaining the insurance organization. If income is exceeded over costs, the company receives profit from insurance activities. In the opposite case, losses arise, which can lead to the impossibility of fulfilling obligations to insurers. In principle, the insurance company may allow temporary loss of certain types of insurance, overlapping losses by other incomes, in particular from investment activities. Compliance with the equivalence principle depends on the degree of reasonableness of insurance premiums and the real dynamics of damages.
The principle of chance is that only events that have random, unforeseen character can insure. The concept of chance means that, although on the basis of life experience with the onset of this event, it is necessary to reckon, in each case it is unknown whether this event will take place at all or at what point in time it will occur.
The intentionally implemented action is not insured, because it does not have the principle of chance. Therefore, for example, in the case of arson, the person insured the house and appeared in arson will not receive insurance payments. On the contrary, the damage associated with negligence, but not intentional, is insured, as it concerns many, but only few really happens.
There are no events that threaten many and affect everyone, for example, in the case of wars, civil unrest, radiation infections, etc.
Since random events are insured, it is important for successful insurance activities to correctly assess the degree of risk, i.e. The probability of the occurrence of the insurance event and the expected amount of damage. This is necessary to calculate the insurance premium. To assess the degree of risk, it is necessary to investigate the patterns of occasional events. The basis of large numbers is fundamental. Its essence is that the assessment of the probability of occurrence of the event is more reliable than the more the number of cases observed. Insurance practice relies, thus, on mathematical statistics and the theory of probability. In order to properly assess the risks, insurers behave their own statistical observations, use official statistical data, create special research centers.
Insurance against the downtime of the enterprise.
An essential feature of insurance for production idle is that the amount of damage here largely depends on the period of the interruption in production. Therefore, it is very important to determine the duration of the insurer's responsibility, that is, the period during which it is obliged to compensate losses from downtime. The most common term of such responsibility is most common in world practice - up to one year. It is invited to establish as the maximum, giving simultaneously the right to insurers to reduce this period with simultaneous reduction in payments.
The damage to be insured against the suspension of production is made up of three components: expenses produced during the stop of production; incomplete profit; Additional costs carried out in order to reduce damage. Since the second part is the main one, they are often talking about the insurance of lost profits (benefits).
The expenses made during the stop of production include the current costs of the insured, which it is forced to implement independently of whether the production process continues or is suspended. When determining the size of such expenses, it is important to determine the costs that the enterprise bears when the production is stopped.
The profit, not received due to the production stop, can be calculated by multiplying the volume of incomplete products during idle time for the rate of profit per unit of products. At the same time, the volume not produced during the stop of the production should be determined as the difference between the volume of products that could be produced during the stop period, based on the production program, and the volume of production issued as a result of the production of production on other objects.
Along with the general restrictions on the responsibility of the insurer (the intention of the insured; military actions, etc.) in this insurance is excluded from reimbursement additional damage caused by stopping production due to changes in the initial project of restoration, reconstruction of a damaged object, planned repair. Prohibition by the authorities of restoration work, lack of insured material, labor and financial resources to eliminate the causes of downtime.
Payments rates are set as a percentage of the cost of products (in the absence of an insured event).
Payments rates are calculated for a one-year insurance period. When establishing a period of responsibility for a break in production within 6 or 3 months, payments rates are reduced accordingly by more than 2 or 4 times. Therefore, taking into account their restorative capabilities, the insured can choose a greater period of insurance responsibility at higher tariffs or a smaller insurance period with significantly lower payments rates.
Property damages that are subject to production buildings, structures, equipment or commodity warehouses, as a rule, also lead to damage to the suspension of production, which is expressed in reducing production levels or in additional costs to restore the initial production capacity. In this case, it is about insurance of incomplete income or loss of profits, as well as the compensation of indirect losses.
The subject of insurance against interruptions in production is presented in various insurance markets.
Profit insurance and enterprise income.
Insurance in case of profit loss due to production idle can be carried out not only in case of fire, but also taking into account the actions of other reasons. The most important reasons are:
- 1) commercial factors associated with the failure of the supplier of obligations for the supply of materials, fuel, equipment, etc.;
- 2) Technical malfunctions and accidents associated with breakdown of machinery and equipment.
a) Insurance in case of suspension of production due to fire. There are three options for insurance contracts in case of suspension of production due to fire.
Option 1. The insurance contract consists of two parts with a separate insurance sum for each part. The first part provides for the insurance of net profit that could not be obtained due to the production stop. In addition, the first part includes the insurance of the required costs, including the costs of wages the main workers and administrative and administrative staff. These costs should not exceed the amount that they accounted for, if there were no idleness. The second part of the contract includes the insurance of expenses for salaries to all other employees of the enterprise. Costs, as a rule, are reimbursed for the downtime, not exceeding 90 continuous calendar days from the moment of the insured event, and within the amount that these employees would receive if there were no downtime. Insurance of the second part is an addition to the first and is carried out only at the request of the insured.
Option 2. This option of carrying out the production of production in idle includes the insurance of the gross income of the enterprise and has a uniform insurance amount. It does not highlight the insurance costs of wages to employees of the second group separately from all other expenses. The insurance object in this case will be a reduction in gross income, which would be received by the enterprise for 12 months, if there were no production idle. The enterprise's gross income includes the amount of income from the sale of products and goods plus other income from industrial and trading operations minus production costs.
Option 3. This option includes insurance contracts of all incomplete income of the enterprise for downtime. Maximum responsibility for one month should not exceed 25% of the entire insurance amount. Let us then consider the main positions of downtime insurance contracts.
The insured value is first calculated or in a new one is checked in cases:
- - conclusion of the contract;
- - settlement of the profit of enterprises and costs after the expiration of the insurance year in order to return the premiums;
- - Calculations of insurance cost for the evaluation period in case of damage.
Bankruptcy risk insurance.
Insurance from the bankruptcy of the enterprise (organization) is a batch insurance against the following risks: a) the risk of loss of property in the form of real and "invisible" assets, which enhanced the ruin of the organization;
b) the risk of non-fulfillment of obligations of counterparties due to their long-term insolvency; c) the risk of loss of time due to failures in the functioning of a business for unfinished reasons; d) other economic risks leading to sudden collapse, the collapse of the enterprise (organization). Insurance case is the implementation of at least two of the above risks, detailed in the terms of the contract for specific insurance events. As an object of insurance is made of profit and capital for the stable period of the enterprise, confirmed by financial sustainability in the last two years.
This type of insurance will allow additional payments to key professionals and save business.
Losses caused by the change in business conditions are losses caused by economic crises, wars, an announcement of embargo or international sanctions, changing market conditions, legislative novels. Including a noticeable increase in taxes, customs duties, all kinds of mandatory fees, a change in the situation in a particular region (for example, after an accident at the Sayano-Shushenskaya HPP, several forlers located below the flow were injured).
Insurance of losses arising from changing the conditions of entrepreneurial activity is quite widely developed in Western Europe and the United States. As examples, may be called, in particular:
- 1) Additional expenses insurance (EXTRA-Expense Insurance), within which additional costs are insured associated with unforeseen circumstances, for example, the translation of the office to another place due to the fire in the old office;
- 2) Insurance of income and commission (Profits and Commissions), according to which the risk of damages from non-receipt of income or commission remuneration for the goods implemented in connection with the damage to these goods before they are delivered to the buyer;
- 3) Insurance in case of cancellation of the Contract (Contract Repudiation InDempity Insurance), intended for insurance of political risks;
- 4) Insurance in case of deprivation of the right of use (Deprivation Insurance) - Insurance of political risks related to the fact that the Government of the Foreign State may impose a ban on conducting export operations or refund of equipment from this country or refuse to issue an export license to the insured;
- 5) Insurance in case of a break in production activities (Business Interruption Insurance);
- 6) Combined Insurance in case of a break in activities and additional related costs (Combination Business Interruption Extra Expense Insurance);
- 7) Insurance of cash flow (Reverse Flow Insurance) when importing products;
Among the diverse risks accompanying entrepreneurial activities, the main place is given to insurance of financial risks.
Under financial risk, they understand the risk arising from financial transactions or financial activities when the goods are performed by currency, securities, cash. Financial risk covers the following main types of risks:
Currency;
Credit;
Investment.
Currency risk - This is the likelihood of financial losses due to a change in currency rate, which may occur between the conclusion of the contract and the actual settlement on them. Distinguish:
Explore currency risks;
Exporter currency risks.
Credit risk is associated with the possibility of non-fulfillment of its financial obligations to the investor in the event of a loan. Credit risk arises in relations with creditors, counterparties, suppliers, intermediaries, shareholders, etc.
Investment risk is related to the specifics of the investigator of cash in various projects.
Insurance of financial risks is to reimburse possible losses in the case when, after a certain period, the insured agreements will not be given to the expected return. Insurance compensation in this case is established in the amount of the difference between the insurance sum and the income received from the insured commercial activity.
The insurance of financial risks includes:
Insurance of misunderstanding (loss) profits (income);
Insurance in case of a decline in the agreed level of profitability;
Founder's risk insurance;
Insurance of exchange risks;
Insurance of currency risks.
Insurance against profit losses is the form of insurance protection of economic entities from loss of future benefits (expected profit), which may occur, first of all, for reasons of a random recession of the production process or its stop. Losses in this case are not limited to loss of profit, but cover the costs necessary to maintain the vital activity of the subject, returning it to a predefined production program, as well as the costs implemented in order to oppose the consequences of the risk case. Therefore, insurance against profit losses is not independent, and so-called complementary for many basic types of insurance, first of all - insurance of property from fire risks and risks of natural phenomena. The risk of profit loss is always derived from the risk of the onset of property harm as its basic risk. After all, even minor property harm can lead to a stop of production, full loss of profits.
In addition to the basic risk (damage or destruction of property), the risk of slowing down or stop the production process, income loss insurance should take into account the risks associated with the seasonality of production, the duration of the period of compensation, the nature of competition in a certain area, partial participation in financing the risk of losses of the income itself.
The volume of the insurance amount as the limit of liability under the contracts of this nature is established on the statement of the policyholder and in coordination with the insurer. At the same time, two approaches are possible to determine the amount of the sum insured. According to the first approach, its value is established, without going beyond the capital investments of the insured in the commercial or financial transactions that he wants to insure. The content of the second approach is inclusion in the sum insured not only capital costs, as well as a certain profit (within the regulatory value), which is expected from invested funds.
Thus, at the first approach, we are actually actually about investment insurance. The use of the second approach can be defined as income insurance.
Considering that the content of insurance is to protect against possible losses Investment investments, the term of the insurance contract is determined mainly by a period of payback period of capital costs, since the specific payback periods are very varying by type of activity (investment directions), even within one type of activity. It depends on the time of functioning of the enterprise, the level of its technical equipment, the quality of organization and management, the degree of inclusion in the infrastructure and the like. Therefore, the validity periods and terms of contracts are predominantly individual, while it is possible to determine their unification. In determining the term of the contract of such insurance, the insurer must take into account the fact that the interests of the parties are manifested differently than in any form of property insurance. Usually, the insured is interested in the rapid payback of funds invested in entrepreneurial activities, and objectively seeks to reduce the term of the contract, and for the insurance company the risk increases due to the likelihood of an unjustified payment of compensation.
This type of insurance also has the feature that the payment of compensation takes place mainly after the expiration date of the contract, when the results of the implementation of the insured commercial operations will be summed up. The establishment of the period of possible payments in the insurance of financial risks allows the insurer to use the amounts obtained in the form of insurance premiums for investment purposes and in a timely manner in full to create a reserve for a specific date.
Insurance of financial, as in commercial, risks provides for some mandatory conditions for concluding contracts. The insured is to have permission, a license or a patent for commercial activities and other necessary documents. In his written statement, he must inform insurance organization On the estimated operations, expected expenses and income, signed contracts and other circumstances that allow the insurer to assess the degree of risk.
In turn, the Insurance Company is obliged to collect and analyze information on the various parties of the policyholder, in particular, the level of profitability, payables and receivables and the like.
In case of insurance of financial risks, the same restrictions on the amount of insurance liability are used, as in the insuring of commercial risks, in particular, the risks of mediation, investment in the organization of casino, tote, potential losses as a result of hostilities, changes in the political course, negative Dynamics of currency exchange rates, etc.
Financial risk insurance tariff rates are defined similarly to the insurance of commercial risks, that is, if they are determined, it is taken into account: the level of stability of market relations and the forecast of the prospects for their dynamics; insurance period; Type of activity and the like. For each enterprise, the risk has specific characteristics that are defined primarily by the sectoral orientation. Therefore, insurance rates are differentiated as the type of risk and by type of activity (Table 10.1):
Table 10.1. Exemplary Insurance Tariffs when insuring the risk of profit losses,%
The amount of damage is determined by adding the amount of income losses associated with the discharge of production (turnover), and the amounts of additional costs aimed at avoiding or reducing the pace of the decline of production and its recovery:
The loss of profits associated with the decline in production (turnover) is determined by multiplying the difference between the amount of standard production (turnover) and the sum of the real volume of production (turnover) on the profitability indicator;
The amount of additional costs is determined on the basis of a previously provided by the insured and coordinated with an insurance company (defined within three days from the date of the occurrence of an insured event) of measures to reduce the rate of decline in production and cannot exceed the amount determined by multiplying the cost of production volume (turnover), Saved thanks to additional costs, on the profitability indicator, minus the amount of the costs that the insured could have avoided.
If the insured after the insured event may continue economic activities on another facility or enterprise (outside the location of the insured property) or establish a dredge work mode, then revenues from this activity are calculated when calculating losses as an indicator, reduces the amount of damage.
Thus, insurance against profit losses provides for the payment of compensation, replaces the regulatory receipt for the insured by the subject, the regular flow of funds necessary to finance entrepreneurial activities, the storage of financial equilibrium at such a level, which would be achieved in the unaccompanies of insured events.
What is insurance of financial risks of individuals and legal entities? How to insure financial entrepreneurial risks? What is the features of business insurance against risks?
Good day, dear readers! You are welcomed by the team of the journal "Khitirbobur"!
Today we are investigating a new topic in all details - insurance of financial risks. The information obtained will help citizens and legal entities to protect their cash assets from unforeseen situations.
So let's get up!
1. What is insurance of financial risks?
To begin with, we will define what financial risks are. In a broad sense, these are any risks associated with monetary operations. If you take 100 rubles to Ivan's neighbor - this is also a financial risk. It is not known whether your money will be returned or a neighbor will safely forget about the debt.
In terms of insurance, financial risk is a risk associated with monetary and commercial activities individuals and commercial organizations. Of course, we are talking about the transactions in which the amounts are more significant than the busy Uncle Wan "Stolnik".
Any manipulation with cash, shares, currency is potentially dangerous for the budget. For this reason, such operations are advisable to insure.
This is a procedure, with which the Insurance Company protects the property and financial interests of the insured from losses upon the occurrence of certain cases.
In Russia, this type of insurance is regulated by the FZ 4015-1 adopted in November 1992. The main tool of protection is the funds from a specifically foundation formed by insurance premiums (contributions).
At the same time, the insurance of financial risks of legal entities implies protection against most types of potential threats that are both systematic and force-major character.
The amount of compensation depends on several factors: the estimated value of the object of insurance, insurance premiums, the sum insured indicated in the contract. Insure potential financial losses can be both legal entities and ordinary citizens.
Financial risks insurance individuals - relatively new service. It provides protection against the missed benefit or damage caused by the occurrence of an insured event recorded, as well as compensation for trial costs.
Example
As a result of the five-day downtime, the company "Moscow Pelmeni Factory" lost 80% of possible profits. Fortunately, the firm was insured in time from such a risk, so lost funds were returned by the insurer.
Actual type of procedure - Insurance of financial risks of shareholders. Attachments to not yet constructed objects in the conditions of instability of the economy are always associated with money risks. It may be a change in market opportuncture or refinancing rates, rise in price prices for building materials, contractors defaults.
Despite the fact that the insurance of financial risks by the developer is a mandatory procedure, and the shareholders have the right not only to refund, but also for the payment of a penalty, 70% of the problem objects do not surrender because of financial problems, so there will be a guarantee of a clear compliance with the terms of the contract will be Not excess.
View 3. Insurance of investment risks
Investment risks - risks of investment in various projects. It can be a portfolio investment in fixed assets and other enterprise material assets, portfolio investment in the rights of participation (including in international activities) and securities, lending to other economic entities.
The subject may insure himself from losing or lacking profit, reducing the profitability, foundation, foreign currency and currency risks recorded fixed by the contract.
View 4. Insurance of assets (property)
Property insurance protects both material and intangible assets. As an insurer, the owner or legal entity responsible for the safety (lessee, tenant, etc.).
Insurance relations are based on the actual value consisting of the difference in the initial price and calculated wear.
View 5. Insurance of deposit risks
The deposit insurance system is a set of measures protecting investors from losses in the event of bankruptcy or cancellation of the Bank's license, the introduction of the moratorium on the satisfaction of payables.
The procedure is conducted by the state "Deposit Insurance Agency", formed in 2003. As an insurance coverage, the interest listed with the banks from each open contribution. Upon the occurrence of the insured event, the depositor receives 100% reimbursement of the deposit amount, but not more than 700 thousand rubles.
It is worth noting that entrepreneurial risk insurance can be both voluntary and mandatory. In compulsory insurance, the facility is the operating fixed assets of the enterprise formed at the expense of equity.
Their protection is focused on preventing a reduction in the level of financial sustainability of a legal entity. The voluntary form of insurance protects the insurance interests of each of the parties.
3. How to insure financial risks - 5 simple steps
The conclusion of the financial risk insurance contract includes the following steps.
Stage 1. Select the insurance company
This is a very responsible step. It is not necessary to put the low amount of insurance payments at the head of the corner: sometimes this is an ordinary marketing course associated with restrictions that reduce the effectiveness of insurance.
First of all, it is necessary to focus on the reliability of the organization. The calculation should be taken not so much fame and the availability of positive feedback (they may be biased), how many specific parameters (reliability ratings, indicators of financial stability, principles for calculating tariffs).
Give preference to companies operating more than 10 years. It should also be checked if the company has a license to implement a specific type of insurance activity. The full registry of insurers and the necessary information is on the portal of the Bank of Russia's service in financial markets.
Stage 2. Select the insurance program
When choosing an insurance program, it is necessary to study the list of insurance cases and determine most of the need for risks. It is necessary to determine the insurance object, its value, the term of the contract, the presence of possible specific conditions.
Some of the insurance companies (SC) offers ready-made programs, the other allows you to draw up a list of risks yourself. Comprehensive insurance is distinguished by the most profitable rates. The difference in the cost between the full and basic package is small, and the insured receives a comprehensive protection of property and financial interests.
Stage 3. Collect documents and apply
This is a very time-consuming stage. Before feeding, it is necessary to make sure that the documents comply with the requirements of the legislation and the insurer. Often, one incorrectly decorated or unforeseen document may lead to the future to failure of insurance compensation.
Stage 4. Define financial risks and tariff rate
The management of monetary risk insurance is relatively new for the Russian market, so insurance rates are not always distinguished by reasonableness and are located in a rather wide range. This gives insurers ample opportunities for bargaining.
Independent calculation of tariffs is troublesome business, so it is better to trust this stage of the profile organization. Customer confidence uses the Metropolitan Soyuz-Insurance company - a reliable insurance partner, open to individuals and legal entities.
Insurance society for legal customers "Soyuz-Insurance" provides the following range of services:
- counseling for possible options for insurance protection;
- assistance in choosing insurance conditions and collecting information required for calculations;
- representing the interests of the client in the dialogue with the insurance company;
- organization of contests between the SC in order to develop an optimal program for the policyholder;
- support of the client upon the occurrence of the insured event and the effective resolution of controversial situations.
Advantages of contacting "Soyuz-Insurance":
- extensive experience in the insurance market;
- understanding the basic needs of the company, depending on the scope of activity;
- knowledge of market tariffs;
- honest and transparent interaction conditions;
- operational terms for the provision of services;
- competent and responsible approach.
The offices of the company are in St. Petersburg, Nizhny Novgorod, Novosibirsk.
Stage 5. We conclude a contract
The contract should not contain ambiguously intercourse concepts. It is desirable that all the rules of statefinuslug used in the development, and license data confirming the right to implement specific types of insurance.
It is worth paying increased attention to the section "Causes of refusal of insurance payment". For example, the insurer may require "immediate notification" on the occurrence of the insured event. This gives companies with ample opportunities for a unilateral interpretation in order to make a decision on refusal. Therefore, it is advisable to achieve the replacement of the term to indicate a certain period.
You can conclude an insurance contract yourself or with a professional broker. The second option occupies a much less time and removes the insured from incorrect actions by a certain SC.
Imagine step-by-step instructions For the insured in the form of a table:
№ Stages Practical recommendations 1 Select insurer Experience, reliability and solvency of the company 2 Selection of the program A comprehensive program will cost cheaper 3 Collection of documents In order to avoid errors, check the data several times 4 Determining tariffs Better entrust this stage by a professional company 5 Conclusion of the Treaty Carefully read all items before signing 4. Where to insure financial risks on favorable terms - Review Top 5 companies
Not all SK are actively developing such a direction as insurance of financial risks of individuals and legal entities. Statistics of these risks is approximate, and the object itself is difficult to accurately meet and requires an analysis of a large number of factors.
Therefore, rates are often overestimated and strengthen the financial load of the insured. Among reliable and advantageous offers it is worth highlighting the insurance packages of the following companies.
The company has been successfully operating in the domestic and international insurance markets since 1947 and offers an extensive range of programs affecting the scope of financial risks. OSAA has a high financial stability, has a significant proportion of own funds and is one of the leaders of the domestic insurance market.
This insurance company has 65 presence points in various regions and not once won in various category nominations for the best insurer "Golden Salamander". The insurer has an A + rating assigned to the expert, confirming its sustainable solvency.
The basis of the organization of the organization - 1994. It is among the twenty Russian insurers in terms of the size of the authorized capital and the total amount of insurance premiums. Priority activity - protection of financial and property interests of legal entities.
The company is an experienced participant in the insurance market and has the level of reliability A ++, assigned to RaEx, denoting impeccable performance and obligations.
Insurance offers corporate customers insurance against the insolvency of counterparties, salary fraud, loss of property rights to real estate used to receive income. Also works with relatively new in the Russian cyber risks market.
4) Renaissance
The largest insurer of the Russian Federation. Refers to the category of system-forming companies in the Russian insurance market. The company has a RAEX rating at the level of A ++, and the authorized capital is more than 2 billion rubles. This allows the insurer to fully and fully fulfill its obligations.
Customers are among more than a million individuals and large Russian and Western companies. The main direction of insurance of financial risks organization is the insurance of assets. Also, the client can get protected from financial losses in simple commercial or production activities.
The company is conducting successful insurance activities in the Russian and international markets, fully fulfilling its obligations and every year forming high indicators of financial efficiency and stability.
It has the highest "B ++" International Analytical Agency STANDARD & POORS for the Russian SK Ranking. The mainly integrated program of insurance of commercial risks of legal entities includes the insurance of the main and current assets, Insurance of losses from downtime and insurance of various types of responsibility.
5. How to save on insurance of financial risks: useful tips
Commercial Risk Insurance is a rather major cost of expenses for any enterprise. There are several ways to save in this form of insurance.
This technique can significantly reduce the cost of the insurance contract.
Among popular techniques to reduce commercial risks are allocated:
- risk evasion;
- adoption, transmission and risk association;
- diversification (separation) of risks;
- heading.
Evasion avoids potential losses, but reduces profitability.
The principle of adoption is to find their own resources to cover losses, associations - in finding partners. When passing risk, factoring or guarantee are used. These ways are developed by the company's financial service and refer to internal activities.
