Types of insurance(Capital Protection Group)
Types of insurance. Type of insurance called Insurance specific homogeneous sites in a certain amount of insurance liability on the relevant tariff rates. Insurance relationship between insurer and policyholder carried out by type of insurance.
Property Insurance
Legal entities and natural persons may enter into contracts of insurance on items for which they have a property interest: buildings, structures, transmission equipment, power workers and other machinery, equipment, vehicles, lovet sky and other vessels, fishing gear, unfinished production and capital construction , inventory, finished goods, commodities, raw materials and other property.
Fire risks and risks of natural disasters
Standard risks for this type of insurance assets are as follows: loss in case of loss or damage to property from fire, lightning, explosion, flood, earthquake, subsidence, storm, hurricane, rain, hail, landslide, landslide, of groundwater, lodging, unusual for the area of severe frosts and heavy snowfalls, a power outage caused by natural disasters, accidents, transportation, heating, plumbing, sewage and other systems, the penetration of water from nearby premises, burglary, unlawful acts of third persons.
Business interruption insurance
Insurance against damage caused by stopping production due to an event which is insured under a contract of property insurance. We cover the Insured losses from the interruption of activities, comprising the profits, loss by reducing the speed of production, works, services and the cost of continuation of the insured business.
Insurance of construction risks
Insurance of construction and installation works, including all materials used for this purpose, equipment, construction site and construction equipment, construction equipment, the cost of clearing the area, garbage collection, supporting structures (eg, temporary dams).
Vehicle Insurance
Insurance, which is designed to protect property interests insured related to the cost of restoration vehicle after accident, breakage or buying a new car after Theft or theft.
Cargo Insurance
Insurance of property interests of the cargo. Provides for damages caused by damage or loss of cargo (goods) transported by various modes of transport.
Widespread in foreign trade have rules that are referred to as “Reservations A, B and C of the Institute of London Underwriters, insurance of goods (Institute Cargo Clauses” A “,” B “,” C “). These rules provide 3 options of insurance, letters” “A”, “B” and “C”. The three options of insurance coverage different load varying degrees of responsibility of the insurer for possible risks
The most complete protection provides coverage on a “With the responsibility for all risks”, as well as reservations “A” Institute Cargo Clauses. Under this option, the transport of cargo insurance the insurer shall reimburse all losses except for damages that occurred due to:
a) any kind of military action or actions and their consequences, damage or destruction of mines, torpedoes, bombs and other weapons of war, piracy, and also because of the civil war, popular unrest and strikes, confiscation, requisition, seizure or destruction of goods at the request of the military or civil authorities;
b) the direct or indirect effects of an atomic explosion, radiation or radioactive contamination, associated with any use of nuclear energy and the use of fissionable materials;
c) the intent or gross negligence of the Insured or the beneficiary, or their representatives, as well as the consequence of a breach by any of these established rules of transportation, shipping and storage of goods;
d) the effect of temperature, the hold air or special properties and natural qualities of the goods, including shrinkage;
e) improper packing or sealing of cargo and departure of cargo in a damaged condition;
f) fire or explosion due to loading with the knowledge of the Insured or the beneficiary, or their representatives, but without the consent of the Insurer, substances and objects, dangerous to the explosion or spontaneous combustion;
g) shortage of cargo at the integrity of the outer packaging;
h) damage by worms, rodents and insects;
i) delay in delivery, and prices fall, are not reimbursed and all other consequential damages of the Insured, except when the conditions of insurance such damages are recoverable by way of general average.
In case of insurance on the other two conditions, “With particular average” and “No liability for any damage, except in cases of collapse” (Reservations “B” and “C” of the Institute of London Underwriters Cargo), the insurer is liable for the following risks:
1. Fire, lightning, storm, tornado and other natural disasters, the collapse or collision of ships, aircraft and other means of conveyance between them, or hit them on the fixed or floating objects, stranding, bridges collapse, explosion, damage to the vessel with ice, podmochka Outboard water;
2. The loss of the ship or aircraft missing;
3. Accidents in loading, stowage, unloading the cargo and the vessel receiving the fuel;
4. General average;
5. All necessary and reasonable expenses incurred to save the cargo, as well as to reduce losses and to establish its size, if the loss is compensated by insurance conditions.
The peculiarity of the insurance on a “no liability for any damage, except in cases of collapse” (with reservation) is that, despite the risks of identity under conditions of “With the responsibility for personal accident, in which case the losses are reimbursed only from the complete destruction of all or part cargo, and losses from damage to the goods shall be reimbursed only in cases: the collapse or collision, fire or explosion on the vessel, aircraft or other conveyances. Specific for cargo insurance is insurance (if all three conditions) for damages, costs, and contributions from the general average (English – general average). Recognized as general average losses incurred as a result of intentionally and reasonably incurred extraordinary expenses or donations for the sake of common security, in order to maintain the total risk of the property involved in the general maritime enterprise – the ship transported freight and cargo vessel. For example, the crew of the vessel in the event of a fire on board may be in order to salvage the vessel and cargo to throw part of the cargo overboard or fill it with water. In this case, damages and costs from the general average are put on the cargo owners, ship and freight in proportion to their value. Is calculated damages, so-called average adjustment (average adjustment). All participants overall accident: cargo owners, and others there is no obligation to pay damages and costs from the general average, or the right to claim damages. Moreover, these rights and obligations arising under the Merchant Shipping Code, regardless of whether the cargo is insured or not. Insurance in this case can quickly settle claims for possible damage from the general average.
Liability
If the liability insurance the object of insurance is the property interests associated with the recovery of the policyholder (the insured) caused harm to life, health or property of third parties.
Insurance for general liability to third parties
The object of insurance for general liability to third parties is the responsibility of the Insured \ insured for damage to property, life and health of third parties.
Product liability insurance, the service provider
The object of liability insurance producer goods / services is its responsibility for possible damage to persons or property, which arose from the use of manufactured goods / services
Liability of directors and office staff
The object of the insurance liability of directors and office staff is the responsibility of the management company for any damages the company’s shareholders as a result of their actions.
Professional Liability Insurance
The object of professional liability insurance are erroneous actions professionals, that can result in events that lead to damage.
Employer’s liability insurance
The object of the insurance liability of the employer is liable for any damages to property, life and health of their employees.
Liability for environmental harm
The object of insurance liability for environmental damage is responsible for the sudden and unforeseen damage to the environment resulting from such actions Insured \ Insured.
Contractual liability
The object of the insurance contract liability is liability arising from the agreement between the insured \ insured and the counterparty of the contract.
Liability of the owner of the vehicle
Liability insurance includes damages to the party injured in a motor accident caused by the Insured \ Zastahovannogo. The insurer pays the actual costs caused by the insured event, but no more than the sum insured under the insurance contract.
Liability of the owner of the vehicle when going abroad (Green Card)
Liability of the owner of the vehicle traveling in his car abroad.
Personal Insurance
The personal insurance includes all types of insurance associated with the probabilistic events in the life of the individual. For personal insurance industry include insurance, in which the object of insurance is the property interests associated with the life, health, capacity for work and pensions of the insured or the insured.
Endowment life insurance, pension insurance
To Life insurance includes all types of insurance, where the object of insurance serves human life. But it is impossible to determine how much is human life, insurance companies are oriented to the client’s income. The object of protection appears not so much life as a person’s income. The average amount of insurance coverage varies from 3 to 10 annual income of the client.
Life insurance contract concluded for a period of not less than one year. There are risky and cumulative life insurance. At risk (classical) insurance money for the client goes to cover the risk and at the end of the period of insurance will not be returned.
In life insurance may be combined with the accumulation of savings and risk functions. For example, this type of insurance is a mixed life insurance and endowment. Such insurance is a combination of investment fund and risk insurance. Part of the money goes to cover the client’s insurance risk, the other part is invested in highly reliable, but not very profitable areas of business and brings investment interest. In the case of survival, at the end of the insurance client receives investment money back with interest. In some companies pay for the risks are not deducted from the funded part.
In life insurance may be included various risks. This accident insurance, on disability from partial disability, from a critical illness (oncology, and so on.). Thus, the insurance liability life insurance provides for payment of the sum insured in the following cases: when survival of the insured before the expiration of insurance, with the loss of health, physical death of the insured.
Separately it is necessary to provide pension insurance. This life insurance with the accumulation, but the termination of the program tied to the retirement rights (such as in Russia, women 50, 55 or 60 years, men 55, 60 or 65 years). In some companies, the contract can not act until the 75 th anniversary of the insured. Insurance payments in the case of survival of the insured is paid as a pension until the end of life (life annuity), a lump sum, or is calculated at 5, 10, 15, 20 years at the discretion of the insured. This pension can be inherited through a period of 20 years, ie in case of death the remainder of the accumulated amount beneficiaries receive ..
Accident Insurance
Accident insurance is designed to compensate for damage caused by the loss of health or death of the insured. It may be in the group (eg, insurance company employees) and individual forms, as well as in the forms of voluntary and compulsory insurance (eg, passengers, soldiers and other categories of citizens).
Health Insurance
Health insurance provides citizens with accident insured for medical care due to the accumulated funds and fund preventive measures. Health insurance may take the form of compulsory and voluntary insurance.
Insurance traveling abroad
Insurance traveling abroad provides the policyholder protection from damage to their property, life and health, when you travel abroad. Insurance risks may include: coating on the package of an accident, medical expenses, including dentistry, surgery, medical evacuation, compensation for burial, repatriation of mortal remains, emergency accommodation expenses, travel / replacement of business colleagues in an emergency, an emergency call to a family member, the removal of or interrupt your trip, the deposit for the release from prison, delay and loss of baggage, flight delay, hijacking, civil liability, assault, kidnapping
Insurance of financial risks and specific
Insurance non-financial liabilities
Insurance losses incurred as a result of default by the counterparty.
Title insurance
Loss of property due to loss of property rights on the basis of an enforceable decision of the court of first instance for any claims of third parties
Political risk insurance
Insurance losses incurred as a result of the actions of the authorities (there is little spread in the CIS countries)
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