Quite difficult to modern world protect yourself from possible monetary risks and predict the situation. For this reason, many insurance companies develop special programs and offers for individuals that provide an opportunity to protect their finances.

If an insured event occurs, the policyholder will receive the monetary compensation specified in the contract.

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Insurance rules

On the onset insured event regardless of the type, according to the established rules, an individual must apply to the competent authorities, to the insurer. After some time, it is necessary to collect and submit a package of documents to receive monetary compensation.

Required documents:

• insurance certificate;
• payment receipt insurance premium;
• conclusion about the insured event;
• documents relating to the causes of the insured event and the losses incurred;

The insurer must submit a notification of the occurrence of an insured event immediately, in accordance with the terms of the contract. After checking all the information and drawing up an act, based on the results of the investigation, compensation is paid. The act, according to the rules, must be drawn up and submitted no later than 10 days.

Types of monetary risks

1. Ensuring credit risks.
2. Return of deposits.
3. Security from an unreliable partner.
4. Protection of investors from risks.

Each type of risk has its own specifics, disadvantages and advantages.

Credit risks

Credit risk protection includes non-repayment Money or violation of the interest repayment schedule. The insurance procedure can be carried out by both the bank and the borrower himself. As a rule, the interests of banks are insured, they are returned a fixed amount after the debtor is declared bankrupt.

It is clear that such protection is relevant for banking institutions that systematically suffer from non-paying borrowers. It is worth noting that not all banks issue such policies, this is due to the desire to save money.

At the same time, not every bank assesses the client's solvency and takes risks by raising lending rates. In such a case, financial risk insurance is a good option. That is, the bank does not want to spend money and time studying the credit history of customers, since it is easier for them to shift all the risks to the insurance company. But the services of insurers cost a lot and reach 10-11%.

Deposit protection

The next type of service is the safety of deposits. In this case, the rights of individuals are protected in the event of a bank failure, excluding the possibility of non-return of the deposit. In case of termination of the agreement unilaterally, the affected participant is entitled to monetary compensation.

This scheme works on the same principle as the compulsory social insurance policy. An internal or external ban on the release of deposits for individuals can serve as an insurance moment.

The company, upon the occurrence of the insured moment, is obliged to pay the depositor the entire amount of the contribution, but it cannot exceed the established limit, which currently stands at 1.4 million rubles.

If the insured has more than one bank deposit, the amount of which exceeds the established value, payments are made in proportion to each deposit in the amount of 1.4 million rubles. All these risks do not apply to compulsory social insurance.

Collateral from an unreliable partner

This category includes risks associated with the loss of benefits. It can be: damage to property, decrease in profits, temporary disability. Such an agreement can be concluded simultaneously with the compulsory social insurance policy.

Insurance for investors

This includes investment risks that depend on fluctuations in exchange rates and all sorts of problematic situations in the stock market.

Using this type, the investor has the opportunity to recover his costs in case of an unforeseen situation. In addition, this group includes "title" insurance, which makes it possible to minimize the risk of loss of ownership.

This service is relevant when concluding an agreement for the sale of real estate with violations of the rules or its alienation to third parties.

Objects of insurance

The objects of financial risk insurance include all kinds of property interests that are associated with monetary risks:

• temporary lack of profit;
• force majeure circumstances;
• violation of the terms of the agreement;
• causing damage;

Features and sample contract

An agreement is concluded for the implementation of financial risk insurance. Although each company makes its own adjustments, there are standard rules. The insured person first of all writes an application and collects a set of documents. The contract prescribes absolutely all the conditions: the subject of insurance, insurance points, prices, amount, and so on.

An insured incident is an incident specified in the agreement, as a result of which the insured person will receive monetary compensation.

The amount insured is the amount based on which insurance payments and the amount of monetary compensation are calculated. The sum insured is formed by agreement of the parties and is the main clause of the contract.

The price of insurance depends on the type of activity of the insured. The amount of insurance payment is commensurate with the amount of insurance, the higher the chance of receiving it, the higher the premium.

Conclusion, duration and suspension of the terms of the contract

The agreement is always in writing. It can be either a document signed by both parties or a policy of a standard form. The policy is issued after payment of the insurance premium. The contract begins after signing or after making a contribution the next day.

The term of the contract according to the standard is 12 months. When taking out insurance of investments or estimated income, the contract is valid for the entire period of receipt of profit.

The contract becomes null and void or may be terminated for the following reasons:

1. Fulfillment of conditions (full payment).
2. Delay in cash contributions, legal liquidation of the insurance company.
3. By the tribunal's decision.
4. By mutual agreement of the parties.
5. Unilaterally.

Insurance of financial risks of legal entities

A legal entity has the right to conclude an insurance contract for both regular and force majeure financial risks, thus it will ensure the protection of financial interests.

Depending on the value of the object of insurance, the amount of insurance premiums and the amount of compensation for damage in the event of an insured event are established. Moreover, you can insure the company in whole or in part, limited to individual objects within a certain amount of insurance.

Thus, individuals have many opportunities to protect themselves from financial risks that may arise from credit loans, investment projects, real estate transactions and more.

In recent years, such services have become increasingly popular, so insurance companies do not stand still and constantly offer better deals.

Very often a person in the course of commercial activities or when trying to increase his funds gets the opposite effect. Business is closely related to risk. They are external and internal, and can arise at any stage of activity.

Financial risk insurance: types, rules, conditions

The development of financial markets affected all countries of the world. This led to the acceleration of globalization and liberalization processes, which directly affected all participants in the global financial industry. Every businessman in one way or another feels the influence of these factors, therefore, he is forced to take steps to ensure the protection of his finances from unfavorable situations.

Insurance of financial risks in this context has become a necessary measure for each participant in financial markets, as there are now significantly more risk factors. This is due to the implementation of new financial instruments, systems and methods. The implementation of innovations is ideally designed to reduce risks, but this creates problems of a different nature.

Such a picture emphasizes the role of risk managers, as well as their ability to respond in a timely manner to what is happening and make adequate decisions. The only true thing in this case is the use of insurance and hedging instruments aimed at saving funds. Almost the entire future of the corporation depends on the correct choice.

Financial insurance in Russia

The same trend is typical for Russia. Recent transformations in the world of finance have forced representatives of the business world to completely reconsider their views on doing business. Insurance of financial risks, along with the need to develop the entire industry, has become the most important task of the state. The continuity of economic cycles depends on how successfully this task is solved.

Nevertheless, the system of state influence on the private insurance sector is still not formed. This picture is a direct consequence of internal factors associated with economic reforms in the country. It is also worth mentioning the lack of a theoretical basis for insurance across the country. The classification of financial risks specifically for the Russian segment and its features has not been made.

Peculiarities

Financial risk insurance is a measure taken in case of loss of assets of an enterprise or an investor. The key word is "cases of loss". These factors may be of a different nature: funds may be unsuccessfully invested, lose ground in the market valuable papers or just kidnapped.

In general, the most risky areas in the world of finance are financial, credit and exchange industries. But the first option allows for a reservation: consumer or similar small loans can be considered a risk in the field of lending, where the insured is an individual - the guarantor. There is no such tool in the stock market.

Types of risks

These include:

• Counterfeit securities.
• Forgery of payment documents: payment orders, cashier's checks or warrants.
• Loss of securities.
• turnover factor counterfeit banknotes.
• Getting counterfeit banknotes into bank circulation.
• Participation of bank employees in fraudulent schemes.
• Theft, damage or destruction of material values ​​and money stored in a bank.
• The same applies to accounting documents, software and access to the bank's servers.

The above types of risks are called financial, but they can also be classified as property. Regardless of their name, the financial market offers the appropriate types of financial risk insurance. Let's consider them in detail.

Types of insurance

Taking into account the extreme relevance of preserving the finances and property of subjects of law, the following types of insurance are offered:

1. Exchange risks. The market of the exchange in the first place may suffer from such factors as the impossibility of payment for transactions, the failure of the brokerage firm to receive commission payments from transactions, unsuccessful transactions with securities.
2. Indirect risks become relevant when situations such as loss of income due to reasons beyond the control of the company, unforeseen additional expenses, loss of temporary and additional profit occur.
3. Credit insurance is practiced on deposits (insured by the bank or depositor), commercial loans or bills of exchange. Late repayment of credit obligations is insured by the bank.
4. Insurance against unauthorized actions of state supervisory and regulatory authorities. In this case, the process is considered from the point of view of various provisions of the Civil Code of the Russian Federation and represents a whole range of measures. Insurance can be directed to partial or full compensation for damage. An insured event in this context is considered to be a stoppage of production processes at the enterprise. It may be complete or partial. In the final result, the fact of the damage caused is considered. In addition, the shutdown of the enterprise's activities creates risks for employees and a number of contractors, manifested in the loss of work, litigation and the costs arising from them, violation of the terms of contracts with partners and other negative consequences.

History and reality

The rules for financial risk insurance in the Russian Federation are subject to Federal Law 4015-1, which has been in force since 1992. According to this document, insurance is a procedure for indemnification with certain conditions. The object of insurance is financial resources, and the protection tool is the insurance fund, which is formed from the monthly contributions of property owners. When it comes to insurance of legal entities, the procedure applies not only to economic factors, but also to force majeure circumstances of a different origin.

As for the financial insurance of ordinary citizens (relatively new service for Russia), then lost profits, unforeseen losses or litigation that entail financial expenses can be considered an insured event.

Shareholders' risks are insured in a similar manner. The relevance of this service is associated with a large number of deceived equity holders who have become victims of unscrupulous construction companies. However, this is not the only risk factor. Also, an insured event can be considered a sharp change in market conditions, price changes or default. In all cases, the guarantor of compensation for damage is the financial risk insurance contract concluded between the client and the insured.

Agreement conditions

The conditions of insurance in the Russian Federation are regulated by the Civil Code of the Russian Federation. The procedure consists of several specific steps. A financial risk insurance contract must be drawn up in writing, but it can also be done orally. Such a solution to the issue also has legal force, but certain conditions must be met, which will be discussed below.

If this type of relationship belongs to the mandatory types state insurance, then the citizen is issued only an insurance policy, which is based on his oral request. Such a policy will have full legal force and is used to obtain damages. This possibility is provided for by Article 930 of the Civil Code of the Russian Federation.

Written contract

Article 940 of the Civil Code of the Russian Federation states that in some cases it is necessary to conclude a written contract with the client, regardless of whether voluntary insurance of financial risks or other business instruments is performed.

In addition, according to Article 941 of the Civil Code of the Russian Federation, it is permissible to use general policies when it comes to the need for multiple insurance of homogeneous property. For example, it can be goods for delivery. In this case, at the request of the client, several general policies can be issued in the name of different people.

Oral contracts

Financial risk insurance conditions are a set of provisions expressing the will of the parties. An oral contract acquires legal force when all the circumstances of its action are taken into account in it, and the parties are unanimous in their opinion. Contracts concluded in writing have some peculiarities. For example, this is the publicity of the document. This feature implies that the insured must sign an agreement with any subject of law that appeals to him of his own free will and is able to pay insurance premiums. Public contracts in the field of insurance have a statute of limitations - no more than 2 years.

Methods of insurance of financial risks in the legal field allow the forced conclusion of an agreement through the court if the insured refuses to do so. The basis for this is articles 426 and 445 of the Civil Code of the Russian Federation. In addition, insurance rates should be the same for all customers. Link to law - article

Mandatory conditions

For an insurance contract to be valid, it must contain the following items:

1. Definition of an insured event.
2. The territory of the insurance contract.
3. Insurance object.
4. The sum insured.
5. The procedure and terms of compensation for damage.
6. Contract time.
7. The period of liability of the insured.
8. The amount and method of payment of insurance premiums.
9. Is it possible to make changes.
10. Types of measures in case of evasion of the obligations of one of the parties.
11. How disputes will be resolved.

Also, the contract may contain individual conditions, previously agreed by the parties orally.

The procedure for concluding an agreement

In the field of insurance of financial risks associated with property losses, there are various systems that differ in tariffs and the list of services provided. You should not bet on an insurer who is willing to provide low premiums. This may be due to the limited list of services provided.

In practice, there are frequent cases when insurance companies resort to various tricks to avoid compensating for damages. The true indicator of reliability is not the experience of the company and not customer reviews, but the assessment of indicators financial stability, place in independent ratings and tariff calculation methods.

Some companies offer ready-made tariffs, with others this issue can be discussed individually. Comprehensive property or risk insurance is considered the most reliable method. Detailed order the conclusion of the contract is regulated by Article 48 of the Civil Code of the Russian Federation.

Definition of an insured event

The Civil Code pays special attention not only to the insured, but also to the victim. Based on the current legislation of the Russian Federation, the procedures for compensation for damage are provided:

1. The process of establishing an insured event.
2. Determination of compliance with the conditions specified in the contract.

Evidence base

According to the contract, the policyholder is obliged to make a decision on compensation for losses, if at the previous stage the fact of the occurrence of this case is established. The following documents should serve as the basis:

• Statement of the victim with a description of the insured event.
• List of destroyed, stolen or damaged property. The system of insurance of financial risks in this case implies the provision of documents and other evidence of the financial damage caused.
• insurance act.

If in the case of property insurance, the procedure for issuing an act is clear, then in the financial field this may raise a number of questions. Regarding financial losses, these can be accounting documents that record the fact of non-payment of the loan, a certificate from law enforcement agencies about damage, theft or destruction of funds, etc. 3 days are allotted for the formation of the document.

Payment procedure or refusal

If a criminal case has been initiated on the fact of an insured event, then the issue of compensation for damage may be postponed until the end of the process. If the event is not insured, compensation is not paid. The victim will be notified in writing.

Company financial risk insurance allows for an outcome in which the court establishes the culprit who caused the financial or property damage. In this case, a decision is made to compensate for the damage by this person, and the insurer is partially or completely released from the obligation to pay compensation.

REGULATIONS

financial risk insurance

1. GENERAL PROVISIONS

Untimely (more than two months overdue) payment of dividends (interest from the face value) on the acquired securities;

Refusal to pay dividends without legal grounds (if there is no confirmation by the minutes of the meeting of shareholders of the decision on non-payment of dividends, etc.);

Insolvency of the issuer of securities at the time of payment of dividends;

Bankruptcy or voluntary termination of the activities of the issuer of securities without compensation to the Insured for the amount of the nominal value of the acquired securities;

c) for deposits:

Untimely (overdue over one month) payment of annual interest on the deposit;

Refusal to pay annual interest on the deposit without legal grounds (in cases where the deposit is not arrested at the request of the authorities, the bank's activities have not been suspended, etc.);

Suspension of the bank's activities by order Central Bank RF;

Bankruptcy or voluntary termination of the bank's activities without reimbursement to the Policyholder of the amount of the deposit.

d) for settlements on interbank clearing:

Untimely provision of clearing.

3.4. An insured event may be considered to have taken place when the negative consequences for the Insured occurred after the expiration of the period stipulated by the contract (agreement) and the counterparty failed to fulfill its obligations to the Insured.

Such a period is calculated from the next day after the date specified in the insurance contract as the period for the counterparty to fulfill its obligations to the Insured.

3.5. Under the insurance contract, upon the occurrence of an insured event, the Insurer shall indemnify:

3.5.1. income not received by the Policyholder (full or partial compensation for loss) as a result of non-performance (improper performance) of contractual obligations by the counterparties of the Policyholder for the reasons provided for by these Rules;

3.5.2. additional costs to reduce losses caused by an insured event.

3.6. In accordance with these Rules, the event that has occurred cannot be recognized as an insured event in case of non-performance (improper performance) by the counterparty of the Policyholder of its obligations under the contract (agreement) due to:

3.6.1. The impact of a nuclear explosion, radiation or radioactive contamination.

3.6.2. Military operations, as well as maneuvers or other military activities.

3.6.3. Civil war, civil unrest of any kind, or strikes.

3.6.4. Suicide of the debtor or his death as a result of alcohol, toxic or drug intoxication.

3.6.5. Seizure, confiscation, requisition, arrest or destruction of the property of the Insured or his counterparty by order of state bodies.

3.6.6. Breach of obligations by counterparties of the debtor.

3.6.7. Absence on the market of goods necessary for execution (products, materials, raw materials, etc.).

3.6.8. The debtor does not have the necessary funds in the current account.

3.6.9. Non-compliance of the terms of the contract (agreement) with the norms of the current legislation Russian Federation.

3.6.10. The prohibition or restriction of money transfers from the country of the debtor or the country through which the payment follows, the introduction of a moratorium, non-convertibility of currencies.

3.6.11. Cancellation of debt or rescheduling of the debt of the counterparty in accordance with bilateral governmental and multilateral international agreements.

3.6.12. Cancellation of an import (export) license, imposition of an embargo on imports (exports).

3.6.13. Non-performance (improper performance) by the Insured of its obligations to the counterparty.

3.6.14. Failure to provide or untimely provision by one of the parties of the documents necessary for the execution of the agreement (contract).

3.6.15. Intentional failure by the counterparty of the Insured to fulfill obligations under the contract, confirmed by a court decision (arbitration court).

3.6.16. Failure by the Insured to eliminate, within the period agreed with the Insurer, circumstances that significantly increase the degree of risk, the need to eliminate which the Insurer indicated to the Insured.

3.6.17. Illegal actions (inaction) of state bodies, local self-government bodies or officials of these bodies, including as a result of the publication by these bodies and officials of documents that do not comply with laws or other legal acts.

3.6.18. Deliberate actions (inaction) of the Policyholder aimed at the occurrence of an insured event.

3.6.19. Non-compliance with the law of the contract (agreement).

3.6.20. Prohibition or restriction of money transfers from the country of the debtor or the country through which the payment follows, the introduction of a moratorium, non-convertibility of currencies.

3.6.21. Debt cancellation or rescheduling of debt in accordance with bilateral governmental and multilateral international agreements.

3.6.22. Cancellation of an import (export) license, imposition of an embargo on imports (exports).

3.6.23. Non-performance (improper performance) by the Insured of its obligations to the counterparty;

3.6.24. Failure to provide required documents(shipping documentation, permits for the export or supply of goods, licenses, etc.).

3.6.25. The bank's refusal to lend to this business activity.

3.6.26. Intentional failure by the counterparty of the Insured to fulfill obligations under the contract, confirmed by a court decision (arbitration court).

3.6.27. Changes in the profile of the commercial activities of the Insurer.

3.6.28. Damage caused by a stoppage of production due to a change in the initial restoration project, reconstruction of a damaged facility, scheduled repairs, lack of labor, material and financial resources for the Insured to eliminate the causes of downtime.

3.7. The insurance contract does not cover the losses of the Insured caused by exchange differences, penalties, late interest, fines and other indirect costs.

3.8. In accordance with these Rules, the Insured's expenses related to the loss or damage to his property (actual damage), as well as moral damages of the Insured - individual.

3.9. The insurance contract, by agreement of the parties, may also provide for other exclusions from insurance, depending on the degree of risk and other circumstances assessed by the Insurer when concluding the insurance contract.

3.10. According to civil law, when concluding an insurance contract, the Policyholder and the Insurer may agree to change or exclude certain provisions of the Insurance Rules and to supplement the Rules, without expanding the scope of the Insurer's obligations provided for by these Insurance Rules.

4. SUM INSURED

4.1. The sum insured is the sum of money determined by the insurance contract, on the basis of which the amounts of the insurance premium and insurance payment are determined.

4.2. The sum insured under the insurance contract is determined by the agreement between the Policyholder and the Insurer.

At the same time, the Insurer takes into account the type and features of the financial and economic activities of the Insured, the nature of the insured civil law transaction, the volume of obligations under the contract between the Insured and his counterparty, the reality of their fulfillment, the possible amount of losses of the Insured in the form of a full or partial loss of income (additional expenses) in in case of non-performance (improper performance) of its obligations by the counterparty of the Insured, the number of insured transactions, as well as insurance risks included in the insurance contract, and the actual cost of financial risk.

The amount of the sum insured (the amount of non-receipt of the expected income) may be determined by the Insurer on the basis of the data and documents of the Insured, indicating the amount of income received by the Insured for the last twelve months of its activity preceding the date of conclusion of the insurance contract or the average amount of income received by the Insured for another period of its activity than one year

4.3. When insuring financial risk in accordance with these Rules sum insured should not exceed its actual (insurance) value. Such a cost for financial risk, in accordance with the current civil legislation of the Russian Federation, is considered to be losses that the Insured, as might be expected, would have incurred in the event of an insured event related to non-performance (improper performance) by the Insured's debtor of its contractual obligations.

When determining the sum insured under a financial risk insurance contract, the parties proceed from the amount of the debtor's obligations to the Insured, expressed in monetary terms, as well as the possible amount of losses of the Insured associated with the full or partial loss of income by him under the insured transaction due to non-fulfillment (improper fulfillment) by the debtor of his obligations to the Insured in the manner and within the terms stipulated by the contract.

At the same time, the assessment of the possible losses of the Insured associated with the complete or partial loss of income in the event of an insured event may be carried out by the experts of the Insurer using the data and documents of the Insured (performed properly in previous years and existing contracts, at the time of conclusion of the insurance contract, accounting documents and reporting, other materials depending on the specifics of the transaction between the Insured and its counterparty, the timing and possibilities of its implementation), as well as an assessment by a professional appraiser.

Under a financial (business) risk insurance contract

for transactions related to the sale of goods (works, services), the insured value is determined based on the actual value of the items for sale;

for transactions of the same type, the insured value may be determined on the basis of the average annual loss over the past few years;

when insuring against the bankruptcy of the debtor or the impossibility of fulfilling obligations due to natural disasters, the amount of the debtor's obligations to the Policyholder is the basis for determining the insurance value;

when insuring against a stop in production or a reduction in production due to a stop in production for the reasons provided for in the insurance contract, the insured value is determined based on the value of products that could be produced during the period of stop of production (the sum of costs plus profit).

4.4. The insurance contract may set the sum insured below the insurance value (underinsurance). Under this condition, the Insurer, with the occurrence of an insured event, is obliged to compensate the Insured for a part of the losses incurred by the latter in proportion to the ratio of the sum insured to the insured value.

The contract may provide for a higher amount insurance compensation but not more than the insurance value.

4.5. If the sum insured specified in the insurance contract exceeds the insured value, the contract is invalid in that part of the sum insured that exceeds the insured value. The part of the insurance premium paid in excess is non-refundable in this case.

4.6. If insurance premium in accordance with the insurance contract, it is paid in installments and by the time the excess of the insurance value is established, it has not been paid in full, the remaining insurance premiums must be paid in the amount reduced in proportion to the decrease in the sum insured.

4.7. If the sum insured exceeded the insured value as a result of insuring the same object with two or more insurers (double insurance), the provisions provided for by these Rules on the consequences of insurance in excess of the insured value shall apply. At the same time, the amount of insurance compensation payable by each of the insurers is reduced in proportion to the decrease in the initial sum insured under the relevant insurance contract.

4.8. If the overstatement of the sum insured was the result of fraud on the part of the Insured, the Insurer has the right to demand that the insurance contract be recognized as invalid and compensation for the losses caused to him by this in an amount exceeding the amount of the insurance premium received by him from the Insured.

5. FRANCHISE

5.1. An insurance contract may provide for a conditional or unconditional deductible.

With a conditional deductible, the Insurer is released from liability for obligations for loss if its amount does not exceed the deductible.

With an unconditional deductible, the liability for the obligations of the Insurer is determined by the amount of loss minus the deductible.

The deductible is determined by both parties as a percentage of the sum insured or in absolute terms.

6. INSURANCE PREMIUM (INSURANCE PREMIUM).

INSURANCE RATE

6.1. The insurance premium is understood as the payment for insurance, which the Policyholder is obliged to pay to the Insurer in the manner and within the time limits established by the insurance contract.

The insurance premium (insurance premiums) shall be paid by the Policyholder in the currency of the Russian Federation, except for the cases stipulated by the legislation of the Russian Federation on currency regulation and currency control.

6.2. When determining the amount of the insurance premium payable under the insurance contract, the Insurer applies the insurance rates calculated by it, which determine the premium charged per unit of the sum insured, taking into account the object of insurance and the nature of the insured risk. specific size insurance rate determined by the insurance contract by agreement of the parties. When concluding an insurance contract, in order to take into account a specific degree of risk of an insured event, the Insurer has the right to apply increasing or decreasing coefficients to the base tariff rates, taking into account possible risk factors (Appendix 1 to these Rules).

6.3. Under contracts concluded for a period of less than one year, the insurance premium is paid in the following amounts of the amount of the annual insurance premium: for 1 month - 25%, 2 months - 35%, 3 months - 40%, 4 months - 50%, 5 months - 60%, 6 months - 70%, 7 months - 75%, 8 months - 80%, 9 months - 85%, 10 months - 90%, 11 months - 95%.

6.4. When the parties conclude an additional agreement (due to an increase in the sum insured), the amount of the insurance premium is determined in proportion to the term of the original contract, while the insurance premium for an incomplete month is calculated as for a full month.

6.5. The insurance premium under the insurance contract may be paid by the Insured at a time or paid in installments in cash or by bank transfer. The procedure for paying the insurance premium is determined in the insurance contract.

The Policyholder is obliged to pay the Insurer the insurance premium or its first installment (if paid in installments) within 5 days (unless otherwise provided by the insurance contract) after signing the insurance contract.

The day of payment of the insurance premium (contribution) is considered:

- for cash payment- the date of payment of the premium (contribution) in cash to the cash desk or to the representative of the Insurer;

- for non-cash payment- the date of receipt of funds to the Insurer's account.

6.6. In case of non-payment of the insurance premium (in the event of a one-time procedure for paying the insurance premium adopted in the contract) within the period established by the contract, the contract is considered not to have entered into force from the date indicated as the deadline for paying the insurance premium (unless the parties have agreed on a deferred payment).

In case of non-payment of the next insurance premium (in the event of the installment procedure for paying the insurance premium accepted in the contract) within the period established by the contract, the contract is considered terminated by agreement of the parties from the date following the date determined as the deadline for paying this premium (unless the parties have agreed on a deferment of payment contribution).

If an insured event occurs before the payment of the next insurance premium, the payment of which is deferred by agreement of the parties, the Insurer is entitled to set off the amount of the deferred insurance premium when determining the amount of the insurance indemnity payable.

7. PROCEDURE FOR CONCLUDING AN INSURANCE CONTRACT

7.1. The insurance contract is concluded for the duration of the contract (agreement) to be insured, unless otherwise provided by the insurance contract.

7.2. In order to conclude an insurance contract, the Policyholder shall submit a written application to the Insurer, in which he informs the following:

Your full name (for a legal entity), legal address, Bank details, phone fax;

Your last name, first name, patronymic (for an individual), home address, bank account, telephone number;

Number and date of the contract (agreement) in respect of which the insurance contract is concluded;

Data on the nature, subject and terms of the contract (agreement);

Known to him information about the counterparty (constituent documents, balance sheet, solvency, etc.) under the contract (agreement) subject to insurance;

Other information about all the circumstances known to him that are important for the assessment of the insured risk.

Simultaneously with the application, the Policyholder submits to the Insurer copies of the contract (agreement) and other documents related to the risk accepted for insurance.

7.3. When concluding an insurance contract, an agreement must be reached between the Policyholder and the Insurer on the following essential conditions:

About the object of insurance;

On the nature of the event, in case of the occurrence of which insurance is carried out (insured event);

About the sum insured;

About the duration of the contract.

7.4. Relations between the Insurer and the Policyholder are formalized in writing, by drawing up an insurance contract signed by the parties, and / or by the Insurer handing over to the Policyholder an insurance policy signed by the Insurer (Appendices 2, 3 to these Rules).

7.5. 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 not known and should not be known to the Insurer. At the same time, the circumstances specifically stipulated by the Insurer in the contract (policy) of insurance or in his written request may be recognized as significant.

When concluding an insurance contract before receiving the Insured's answers to the questions posed by the Insurer, the latter cannot subsequently demand termination of the contract or its invalidation on the grounds that the relevant circumstances were not reported by the Insured.

7.6. If, after the conclusion of the insurance contract, it is established that the Insured provided deliberately false information about the circumstances that are essential for determining the likelihood of an insured event and the amount of possible losses from its occurrence, the Insurer has the right to demand that the contract be recognized as invalid and the consequences applied in accordance with the legislation of the Russian Federation, except for the case when the circumstances, which the Policyholder has kept silent about, have already disappeared.

7.7. The insurance contract, unless otherwise specified, shall enter into force upon its signing by the parties.

In this case, the validity period of insurance starts from 00:00 on the day indicated as the beginning of the insurance, but not earlier than 00:00 on the day following the day the insurance premium or its first installment is received on the current account or cash desk of the Insurer (its representative), if the insurance contract does not defined otherwise.

7.8. The conditions contained in these Insurance Rules and not included in the text of the insurance contract (insurance policy) are binding on the Insured if the contract (insurance policy) directly indicates the application of such Rules and the Rules themselves are set out in one document with the contract (insurance policy) or on its reverse side or attached to it.

7.9. According to civil law, when concluding an insurance contract, the Policyholder and the Insurer may agree to change or exclude certain provisions of the Insurance Rules and to supplement the Rules, without expanding the scope of the Insurer's obligations provided for by these Insurance Rules.

8. PROCEDURE FOR TERMINATION OF INSURANCE CONTRACT

8.1. The insurance contract is terminated in the following cases:

8.1.1. Its expiration date.

8.1.2. Fulfillment by the Insurer of obligations to the Insured under the contract in full.

8.1.3. Non-payment of insurance premiums by the Policyholder within the terms established by the contract, unless otherwise provided by the insurance contract.

8.1.4. Liquidation of the Insured, which is a legal entity, or death of the Insured, which is an individual, except for the case of replacement of the Insured by agreement of the parties.

8.1.5. Liquidation of the Insurer in accordance with the procedure established by the legislative acts of the Russian Federation.

8.1.6. The decision of the court to recognize the insurance contract as invalid.

8.1.7. In other cases provided for by legislative acts of the Russian Federation.

8.2. The insurance contract may be terminated before the date for which it was concluded, if after its entry into force the possibility of the occurrence of an insured event has disappeared, and the existence of the insured risk has ceased due to circumstances other than the insured event.

11.2. After receiving a message from the Policyholder about the event, the Insurer shall take the following actions:

11.2.1. Establishes the fact of the occurrence of the event: checks the compliance of the information provided in the Policyholder's application (time, place, circumstances of the event, etc.) with the terms of the insurance contract and these Rules; determines the fact and causes of the occurrence of the event, as a result of which the damage was caused (based on the documents of the relevant organizations); checks whether the event that has occurred and the resulting losses have been included in the scope of the Insurer's obligations; determines the need to involve experts, performs other actions aimed at establishing the fact of an insured event.

11.2.2. When an event is recognized as an insured event, it determines the amount of losses, insurance payment, draws up an act on the insured event (insurance act) and, taking this into account, makes a decision on the payment of insurance compensation.

11.3. The amount of losses incurred by the Policyholder as a result of the occurrence of an insured event is determined in the manner prescribed by these Rules in accordance with the legislation of the Russian Federation.

11.4. In the absence of a legal dispute between the parties regarding the recognition of the event as an insured event, the determination of the amount of losses and the amount of insurance compensation, an insurance contract (policy), an unfulfilled contract (contract) and other documents (their copies) at the request of the Insurer, depending on causes of the event:

11.4.1. In case of full or partial loss of income by the Insured due to non-performance (improper performance) by the debtor of contractual obligations as a result of bankruptcy- a copy of the decision of the arbitration court on declaring the debtor bankrupt (in case of voluntary liquidation - the relevant documents adopted by the founders - decisions, protocols, etc., an extract from the state register of legal entities on the liquidation of the debtor), an extract from the register of creditors' claims, the calculation of losses made by by the Insured, other documents at the discretion of the Insurer, confirming the fact of the occurrence of the event and the amount of damage caused, which he determines in each specific case, depending on the circumstances of the occurrence of the event.

If an insured event occurs as a result of the bankruptcy of the debtor, this event is recognized by the Insurer as an insured event from the moment the decision of the arbitration court on the forced liquidation of the debtor and the opening of bankruptcy proceedings enters into legal force in accordance with the current legislation of the Russian Federation, the obligation to pay insurance compensation occurs from the moment of making in the unified state register of legal entities, an entry on the liquidation of the debtor.

11.4.2. In case of full or partial loss of income by the Insured due to non-performance (improper performance) by the debtor of contractual obligations for reasons beyond the control of the debtor (in the absence of deliberate actions on his part aimed at non-fulfillment of obligations, as well as negligence in the actions of his staff) that occurred during and at the place where the debtor fulfills obligations to the Insured – written claims of the Insured to the debtor, acts of fire fighting, law enforcement agencies, opinions of experts, emergency services, state commissions, competent authorities, other documents at the discretion of the Insurer, confirming the fact and reasons for the occurrence of the event and the amount of losses, which he determines in each specific case in depending on the circumstances of the event.

In the event of an insured event as a result of the bankruptcy of the debtor, the obligations of the Insurer for insurance payments come into effect from the moment the decision of the arbitration court on the compulsory liquidation of the debtor and the commencement of bankruptcy proceedings in accordance with the current legislation of the Russian Federation comes into force (in case of a voluntary declaration of bankruptcy - from the moment Unified State Register of Legal Entities records on the liquidation of the debtor);

11.4.3. In case of full or partial loss of income by the Policyholder due to non-performance (improper performance) by the debtor of contractual obligations due to the stoppage of the production (activity) of the debtor for a long period (more than one month) due to:

- accidents - written claims of the Insured to the debtor, documents confirming the stoppage of production (activity) due to an accident, acts, conclusions of emergency technical services, law enforcement agencies, state commissions, acts indicating the technical condition of communications, indicating the date of their last inspection, other documents at the discretion the Insurer, confirming the fact of the occurrence of the event and the amount of losses that he determines in each specific case, depending on the circumstances of the occurrence of the event;

- fire - written claims of the Insured to the debtor, documents confirming the stoppage of production (activity) due to fire, acts of fire fighting, law enforcement agencies, conclusions of fire and technical expertise, state commissions, data indicating the level of fire safety, indicating the date of the last inspection of the enterprise by the state fire inspector supervision, other documents at the discretion of the Insurer, confirming the fact of the occurrence of the event and the amount of losses, which it determines in each specific case, depending on the circumstances of the occurrence of the event;

- explosion - written claims of the Insured to the debtor, documents confirming the stoppage of production (activity) due to the explosion, acts of law enforcement agencies, conclusions of the emergency service of the gas network, state commissions, other documents at the discretion of the Insurer, confirming the fact of the occurrence of the event and the amount of losses that he determines in each specific case depending on the circumstances of the event;

- natural Disasters - written claims of the Insured to the debtor, documents confirming the stoppage of production (activity) due to natural disasters, acts, conclusions of state commissions, competent authorities, regional bodies of hydrometeorological services, other documents at the discretion of the Insurer, confirming the occurrence of an event and the amount of losses that he determines in each particular case, depending on the circumstances of the event.

In this case, in case of non-fulfillment (improper fulfillment) of contractual obligations due to a stoppage of production (reduction in production volume) due to a fire, explosion, accident, natural disaster, the amount of damage is determined by the Insurer within the sum insured established by the parties in the insurance contract, in the amount of losses in the form of lost (missed) income (profit) in connection with the termination (reduction in volume) of production, as well as additional expenses of the Insured directed by him to the speedy restoration of the normal functioning of the enterprise, including expenses for the restoration of equipment, for the payment of wages to employees involved in the restoration of damaged ( destroyed) equipment, etc.;

In case of full or partial loss of income by the Insured (under clause "c" clause 3.4 of the Rules) due to non-performance (improper performance) by the debtor of contractual obligations due to natural disasters during and at the place of performance of his obligations - written claims of the Policyholder to the debtor, acts , conclusions of the territorial divisions of the hydrometeorological service, state and departmental commissions, competent authorities, departments of the Ministry of Emergency Situations and Civil Defense, other documents at the discretion of the Insurer, confirming the fact of the occurrence of the event and the amount of damage caused, which he determines in each specific case, depending on the circumstances of the occurrence of the event.

11.4.4. In case of full or partial loss of income by the Insured due to non-performance (improper performance) by the debtor of contractual obligations due to the death of the debtor - an individual, which occurred during the validity period of the insurance contract - certificate of a medical institution on the causes of death, death certificate from the registry office, calculation of losses made by the Insured, other documents at the discretion of the Insurer, confirming the fact of the occurrence of the event and the amount of damage caused, which it determines in each specific case depending on the circumstances of the occurrence of the event.

11.5. The decision on the amount of the Insured's losses in the form of a full or partial loss of income is made by the Insurer after a comprehensive analysis of all the circumstances of the event on the basis of the Insured's application, accounting, banking, other financial and payment documents and calculations submitted by him, indicating the amount and types of losses, as well as conclusions experts (expert commissions), acts and opinions of audit, appraisal and other firms that have licenses for the relevant types of activities, materials of law enforcement and other competent authorities, other documents at the discretion of the Insurer.

When determining the amount of the Insured's losses, the Insurer also takes into account and examines materials that testify to the measures taken by the Insured to obtain the income specified in the application and the preparations made for this purpose (contracts (contracts) concluded by the Insured for the supply of goods, equipment (taking into account the receipt of components from the debtor) etc., for the performance of work, the provision of services, preparatory work for the installation of new equipment and other similar evidence).

The Insurer is also entitled to demand from the Policyholder evidence of the measures taken by him to fulfill his obligations by the debtor (written claims, statements of claim, decisions of the court (arbitration court), etc.).

11.6. If the documents submitted by the Insured are not sufficient to make a decision on recognizing the event as an insured event and determining the amount of losses, the Insurer has the right to request from the Insured and its counterparty (debtor) relevant additional documents (accounting, banking and others), including acts and conclusions of audit and appraisal firms, explanations of the Insured and his debtor; if necessary, the right to involve specialists (experts) for an expert assessment of the circumstances of the event, the reasons for and the amount of complete or partial loss of income by the Insured, and the right to take other actions to clarify the circumstances of the event and determine the amount of losses.

11.7. If the Insurer recognizes the event as an insured event and in the absence of a litigation between the parties, he, on the basis of an application, documents submitted by the Insured, as well as additional documents received by him, draws up an insurance act, which indicates the circumstances of the insured event, the rationale for the calculations of the amount of the caused loss , the amount of insurance compensation.

An insurance act is not drawn up if, when checking the application of the Insured, it is established that the claimed loss did not occur as a result of an insured event. In this case, the Insurer and the Policyholder draw up a document of any form, which indicates the reasons for which the insurance act was not drawn up, or the Insurer sends a written notice to the Policyholder indicating the reasons for not recognizing the event as an insured event and the decision to refuse to pay insurance compensation.

11.8. Upon the occurrence of an insured event stipulated by the insurance contract, the loss of the Insured includes lost income (total or partial loss), which is determined by the Insurer in the following order:

11.8.1. In case of complete loss of income for any of the reasons provided for in subparagraphs 3.3.1 - 3.3.4 of paragraph 3.3 of these Rules - in the amount of the sum insured established in the insurance contract.

11.8.2. In case of partial loss of income for any of the reasons provided for in subparagraphs 3.3.1 - 3.3.4 of paragraph 3.3 of these Rules - in the amount of actually lost income, confirmed by the data accounting and reporting of the Insured, but not more than the sum insured established in the insurance contract.

11.9. If the circumstances of the occurrence of the event have become the subject of legal proceedings, the amount of the Insured's losses is determined by the Insurer on the basis of a court decision (arbitration court) that has entered into force on the presence and amount of damage caused within the sum insured established by the insurance contract.

11.10. Payment for the services of independent experts who may be invited to determine the amount of loss of any of the parties is made at the expense of the inviting party.

11.11. The amount of insurance indemnity is established taking into account the deductible specified in the insurance contract.

11.12. If the Policyholder has received compensation for loss from third parties, the Insurer shall pay compensation within the difference between the amount of loss and the amount received from third parties.

11.13. If, at the time of the insured event, the insurance object was also subject to insurance contracts concluded with other insurers, the Insurer shall bear obligations in proportion to the sums insured in accordance with the terms of all existing contracts.

12. PAYMENT OF INSURANCE INdemnity

12.1. Insurance payment - the amount of money paid by the Insurer to the Policyholder upon the occurrence of an insured event.

The insurance indemnity is paid by the Insurer taking into account the deductible stipulated in the insurance contract, the liability limit, but not more than the sum insured.

12.2. The insurance payment is made by the Insurer in accordance with the insurance contract on the basis of:

Applications of the Insured;

insurance act;

Documents confirming the fact of the occurrence of the insured event and the amount of the loss caused;

Court decisions, when resolving a dispute in court;

Other documents as agreed by the parties.

12.3. The insurer makes insurance payments within 5 working days (unless otherwise stipulated in the contract) after the signing of the insurance act or the entry into force of a court decision (arbitration court).

12.4 Insurance payment under insurance contracts is made in the currency of the Russian Federation, except for the cases provided for by the Federal Law "On the Organization of Insurance Business in the Russian Federation" and the legislation of the Russian Federation on currency regulation and currency control.

12.5. If, after the payment of the insurance indemnity, a circumstance is discovered that deprives the Insured of the right to receive insurance indemnity under the insurance contract, the Insured is obliged to return the amount received to the Insurer within 10 days.

If, after the payment of insurance indemnity, the Insured is compensated for losses (in full or in part), then he is obliged to return to the Insurer within 10 days the appropriate part of the received insurance indemnity, minus the necessary expenses of the Insured in order to ensure that his counterparty fulfills obligations under the contract.

12.6. The insurer has the right to refuse to pay insurance compensation in cases where:

12.6.1. The policyholder committed intentional actions (inaction) aimed at the occurrence of an insured event.

12.6.2. The policyholder has committed an intentional crime that is in direct causal connection with the insured event.

12.6.3. The Policyholder provided the Insurer with knowingly false information about the object of insurance.

12.6.4. The policyholder has received appropriate compensation for damage from the person responsible for causing this damage.

12.6.5. In other cases provided for by legislative acts of the Russian Federation.

In cases stipulated by law, the Insurer may be exempted from paying insurance compensation upon the occurrence of an insured event due to the Insured's gross negligence (Part 2, Clause 1, Article 963 of the Civil Code of the Russian Federation).

12.7. The decision to refuse an insurance payment is made by the Insurer and notified to the Insured in writing with a reasoned justification for the reasons for the refusal. Refusal of the Insurer to make insurance payment may be appealed by the Insured in court, arbitration or arbitration courts.

13. TRANSFER TO THE INSURER OF THE RIGHTS OF THE INSURED

FOR DAMAGES (SUBROGATION)

13.1. The Insurer who has paid the insurance indemnity shall, within the amount paid, transfer the right to claim that the Insured has against the person responsible for the losses indemnified as a result of insurance (a contract term excluding the transfer to the Insurer of the right to claim against the person who intentionally caused the loss is void).

13.2. The right of claim transferred to the Insurer shall be exercised by him in compliance with the rules governing relations between the Insured and the person responsible for the losses.

13.3. The Policyholder is obliged to transfer to the Insurer all documents and evidence and to inform him of all the information necessary for the Insurer to exercise the right of claim that has passed to him.

13.4. If the Insured has waived his right to claim against the person responsible for the losses indemnified by the Insurer, or the exercise of this right has become impossible due to the fault of the Insured, the Insurer shall be released from paying the insurance indemnity in full or in the relevant part and shall have the right to demand the return of the overpaid amount of indemnity.

14. LIMITATION

SETTLEMENT OF DISPUTES

14.1. A claim for claims arising from a financial risk insurance contract may be brought within the time limits provided for by the civil legislation of the Russian Federation (within two years).

14.2. Disputes arising from the performance of the terms of the insurance contract are resolved by the parties in the process of negotiations. If an agreement is not reached, the dispute is referred to the court, arbitration or arbitration court in accordance with their competence.

On the one hand, insurance acts as a stabilizer of the economic and social situation in the country; on the other hand, it is a sphere of the economy and business.

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At the same time, it refers to methods that allow managing risk. The specificity of protection under insurance is to compensate for damage in the event of an insured event.

What it is

In the Russian Federation, financial risk insurance is regulated by the Federal Law under the number , which was adopted at the end of November 1992.

It has been repeatedly amended and supplemented, the latest of which include innovations dated September 1, 2014.

The concept of " financial risk» denotes the risk that arises from various financial transactions, commercial activities. In them, the product acts as a currency, securities, cash.

In conditions market economy financial risk insurance refers to an industry that provides economic freedom and individual rights. It is important in the investment activity of the capital of financial and industrial groups, holdings.

Insurance of funds is directly related to the compensation of probable losses if the insured agreements do not bring the expected return after some time.

The amount of insurance indemnity is determined by the difference arising between the sum insured and the acquired income from the insured commercial activity.

rules

According to the financial risk, in accordance with the rules of insurance, any individual or legal entity with the right and capacity may act as an insurant or beneficiary.

He has the right to conclude an insurance contract in his favor, but the possibility of concluding it in favor of a third party is not excluded.

According to the rules, financial risks include:

• loss of expected income associated with untimely sales of products, downtime of the enterprise's production facilities, a decrease in the level of profitability;
• establishment, financing of a newly created company;
• leasing, fluctuations in the rate of the sale price of securities;
• violation by the counterparty of obligations under the transaction, its insolvency that appeared during the execution of the terms of the transaction.

Forms and types

According to the provisions of the insurance rules, the types of risks determine the forms of insurance for financial risks. For example, price risks are often insured with the help of derivatives, that is, options, futures, forward contracts used in exchange trading in securities.

Financial risk is divided into main types:

On commodity, stock exchanges, insurance of financial risks is called hedging. Under it, insurance is carried out by the method of concluding a reverse transaction, using reverse commodity, foreign exchange flows.

It is also committed by a counter sale or purchase of the same underlying asset. To replace one financial instrument with another, the correlation coefficient must be negative, that is, the value of securities must be directly opposite.

Internal and external insurance of financial risks

In the financial risk insurance market, its main types are identified, which are represented by external and internal risks.

The external types of insurance include the insurance of enterprises through the conclusion insurance contract, transfer of insurance risk to its counterparties.

With external insurance, the specific financial risks of the enterprise arising in the course of the economic activity of the enterprise are insured in full.

It comes in two forms:

When implementing internal insurance, the company insures its risks arising directly from it.

The system of internal insurance includes the provision of compensation for probable financial losses in commercial operations, the introduction of a system of penalties.

It allows the enterprise to reserve financial resources. In addition, he can create a reserve for them to cover losses, unexpected expenses, future payments.

Features of the contract

The financial risk insurance contract is drawn up individually, taking into account the specifics and objectives of commercial activities, financial capabilities, in strict accordance with the instructions of the Civil Code.

It is concluded on the basis of a written application, the content of which is information about the subject of the contract, the list of insured events, the amount of the insurance amount, the obligations assumed by the parties, and the introduction of amendments and additions.

But in any case, it is necessary to provide for the duration of its action, the conditions of imprisonment. Amendments to it are formalized by a separate agreement.

The contract may be terminated upon expiration, liquidation of the insurance company, if the insured provides knowingly false information, if the insured fails to fulfill obligations to the insurer, it is terminated by the insurance company unilaterally.

Also, at the request of the insured, it can be terminated at any time. it is signed by the parties.

What is an object

In financial risk insurance, the property interests of the insured relating to losses are included in its object.

As a rule, they arise when the counterparty fails to fulfill or improperly fulfills its obligations to the insured.

Insurance of financial risks of legal entities

A legal entity has the opportunity to insure its systematic and non-systematic financial risks in order to gain financial guarantees with the protection of his interests if necessary.

There are no restrictions on the amount of indemnity, they are determined depending on the value of the insurance object. It also establishes the amount of insurance premiums.

Moreover, a legal entity can insure an enterprise in whole or in part, limited to individual objects within a certain sum insured, in accordance with the list of insured events.

Where can I apply

Many insurance companies have started their activities in this area of ​​insurance, despite the fact that it appeared not so long ago.

They offer various programs for the implementation of insurance of financial risks of individuals, legal entities, regardless of the form of ownership, organizational and legal status.

The programs offered by companies provide reliable coverage of the damage incurred by the insured due to the fact that the counterparty was unable to fulfill its obligations on time.

At the same time, they serve their clients at a high level, consult on issues that interest them, explain the provisions and rules of financial risk insurance, their concepts and where they are applied. Below are the conditions of their insurance in two well-known Russian companies.

Rosgosstrakh

The insurance company within the framework of the financial risk insurance program covers a fairly wide range of industries in which insurance is provided:

• transported goods from the resulting damage, such as damage, theft, robbery;
• sea ​​and river vessels, it provides comprehensive protection of property interests, allows you to conclude large international contracts, receive loans secured by a vessel on favorable terms;
• the risks of space activities with the provision of insurance protection at all stages of the production and operation of space technology;
• agricultural risks, including voluntary insurance of agricultural crops, providing insurance protection;
• construction and installation risks and civil liability in relation to third parties in the course of construction and installation works;
• electronic equipment, within which the risks associated with its operation are subject to coverage;
• yachts and boats under a comprehensive program that provides insurance coverage against all risks arising from the operation of the vessel.

The company provides its services to individuals and legal entities, providing effective insurance protection to its customers.

Loyd City

There are frequent cases when the counterparty violates the procedure and terms for fulfilling the obligations specified in the transaction agreement with the insured or performs them improperly, as a result of which the insured suffers losses.

The financial risk insurance program offered by Loyle City is able to provide financial protection to the insured in this situation.

The insurance company assumes responsibility under the contract concluded with the insured in case of non-fulfillment or improper fulfillment of contractual obligations by the counterparty under certain conditions.

These include:

• recognition of the counterparty as bankrupt, liability arises from the moment of official publication of the decision of the arbitration court;
• the inability of the counterparty to fulfill its obligations to the insured within the prescribed period, in the required form due to the suspension of production activities, reduction in production volumes due to the effects of fire, explosion, emergencies, natural disasters.

The insurance company guarantees its customers to pay insurance compensation in the event of an insured event immediately and in full, if the insured notifies the company in a timely manner of the event.

Tariffs

When determining tariff rates for insurance of financial risks, the level of stability in market relations, the forecast for the future, that is, the dynamics of growth, the duration of the insurance period, and the type of commercial activity are taken into account.

In this type of insurance, legal entities and individual entrepreneurs who have passed state registration and carry out entrepreneurial activities can act as insurers. Under contract voluntary insurance financial risks, the entrepreneurial risk can only be insured by the insured himself and only in his favor.

The object of insurance is the financial risk of the insured, which is understood as the risk of loss (except for lost profits) due to violation by the insured's counterparties of their obligations under the contract related to the insured's business activities.

The object of insurance may be the financial risks of the insured under contracts of the following types of obligations:

purchase and sale (in terms of the supply of goods, the supply of goods for state needs, the sale of real estate, the sale of an enterprise);

rent (including leasing);

in a row;

· Provision of paid services.

An insured event is the receipt by the insured of losses due to a violation of non-performance or improper performance by the counterparty of the insured party of obligations assumed under an agreement with the insured in relation to:

a) delivery (transfer) of goods in the quantity and terms established by the contract;

b) making payments within the terms established by the contract.

In this case, an insured event will be recognized as the receipt by the insured of losses due to a violation by the counterparty of the insured of the obligations assumed under the contract with the insured, if it followed as a result of bankruptcy or economic insolvency of the counterparty of the insured that occurred during the term of the insurance contract, or was the result of other events, which are unforeseen for both the insured and his counterparty at the time of the conclusion of the insurance contract and occurred during the term of the insurance contract (accidental loss of property that is the object of the contract between the insured and his counterparty, the introduction of legislative acts, which made it impossible for the counterparty of the insured to fulfill his obligations under the contract with the insured).

An insured event is considered to have occurred if the insured has losses after 10 calendar days from the date of the established period for the fulfillment by the insured's counterparty of obligations under the contract, the fulfillment of which is associated with the financial risk of the insured accepted for insurance.

Insured events for specific types of obligations, the financial risks of which are accepted for insurance, may be as follows.

At purchase and sale (delivery of goods, supply of goods for state needs, sale of real estate, sale of an enterprise) insured receives losses due to:

a) non-delivery, under-delivery of goods paid for by the insured in the amount and terms established by the contract;

b) non-payment for the goods delivered by the insured within the terms specified in the contract.

At less receipt by the insured of losses due to the failure of the counterparty to provide the insured in exchange for the goods transferred by the insured to other goods provided for by the exchange agreement, in the amount and within the time limits established by the exchange agreement,

At rent, hire the insured receives losses due to a violation by the insured's counterparty of its obligations to pay, within the terms established by the lease or lease agreement, payment for the leased property transferred to it by the insured for possession (use) due to accidental loss of this property.

At contract the insured receives losses due to a violation by the insured's counterparty of its obligations to pay for the work received from the insured, performed under a work contract;

At paid services the insured receives losses due to a violation by the insured's counterparty of its obligations to pay for the services rendered by the insured in accordance with the contract.

The insurance amount is determined by agreement of the parties and is set within the limits of the amount of losses from entrepreneurial activity that the insured would have incurred in the event of an insured event.

When insuring the risk of violation by the counterparty of the insured party of its obligations to supply (transfer) goods in the quantity and terms established by the contract, the sum insured is set within the value of the goods to be delivered (transferred) to the insurant by the counterparty of the insured during the validity period of the insurance contract.

When insuring financial risk under a lease or lease agreement, the sum insured is set within the value of the property transferred by the insured to its counterparty under a lease or lease agreement, but not higher than the actual value of this property on the date of conclusion of the insurance contract.

When insuring the risk of violation by the insured's counterparty of its obligations to make payments within the terms specified by the contract, the sum insured is set within the limits of the sum of all or certain payments agreed upon at the conclusion of the insurance contract, falling on the payment date for the period of validity of the insurance contract.

The amount of the insurance rate is calculated by the insurer depending on the degree of risk under the insurance contract on the basis of basic insurance rates and adjustment coefficients to them.

The insurance premium is determined by multiplying the sum insured by the insurance rate and is paid by the insured by bank transfer at a time or in installments.

The insurance indemnity is determined in the amount of the amount of losses incurred by the insured as a result of the occurrence of an insured event, but not more than the sum insured under the insurance contract.

The losses of the insured are:

a) in case of violation by the counterparty of the insured of the obligations assumed under the contract with the insured regarding the supply of paid goods in the amount and terms established by the contract, the cost of goods not delivered (not transferred);

When insuring financial risk under a lease or employment agreement, the following are considered losses of the insured:

· under a lease agreement with the right to purchase the leased property – the outstanding value of the leased property as of the day of the insured event;

under a lease agreement without the right to purchase property, as well as under a lease agreement - the cost of property leased, leased;

b) if the counterparty of the insured violates the obligations assumed under the contract with the insured in relation to making payments under the contract within the terms specified by the contract - the amount of payment not received within the established terms.

If the sum insured is set at a certain percentage of the amount of possible losses of the insured, then the amount of insurance compensation is calculated in the same percentage of the amount of losses subject to compensation.

The insurer shall be released from the payment of insurance indemnity if:

the policyholder has committed intentional actions that caused the occurrence of an insured event;

· the insured event occurred as a result of the impact of a nuclear explosion, radiation or radioactive contamination, military operations, civil war;

· losses are reimbursed in full to the insured by the person guilty of causing them;

· the policyholder has waived his right to claim against the person responsible for the losses, or the exercise of this right has become impossible due to the fault of the policyholder;

· the policyholder deliberately failed to take reasonable and accessible measures to reduce possible losses.

Consider the features of insurance of financial risks under leasing agreements.

International leasing has been developed in the area located at the intersection of the so-called investment and implementation activities. Leasing is, first of all, a long-term lease of machinery, equipment, vehicles used in international economic relations. The rental form of export of leasing objects creates economic benefits for both parties. The lessee acquires the opportunity to use expensive equipment without large investments, as well as pay rent as they receive profit from the operation of the leased equipment. Lessor - expands sales. Leasing organizations can quickly and comprehensively satisfy the needs of various sectors of the national economy for unique types of instruments, equipment and other production capacities, which contributes to their technical re-equipment and competitiveness.

The prospect of international leasing, the possibility of its use by Belarusian enterprises, is limited by the standard problem - the inability to provide solid financial guarantees.

Insurance is another way to get the necessary guarantees. Leasing insurance does not have any specifics and is carried out as a standard in accordance with the Rules of the insurer, the requirements of the insured and the specifics of the insured object. The lessor or the lessee can act as the insured, depending on whose insurable interest is higher.

Leasing insurance can be considered in two aspects: insurance in the implementation of leasing operations and insurance of the object of leasing itself.

The first concept is broader than the second and implies protection against all or most of the risks of the lessor. Among these risks are the risks of insolvency of the lessee; risks of non-return of the leased asset, refusal to purchase an object, changes in interest rates; risks of a legal nature, etc. The second should be interpreted as insurance of the object of leasing itself, that is, property insurance.

The object of insurance in this case is the financial risk of the insured (lessor), which is understood as the risk of losses of the insured due to a violation by the counterparty of the insured - the lessee - of the obligations assumed under the leasing agreement in relation to the payment of leasing payments within the terms established by the leasing agreement.

An insured event under a financial risk insurance contract under a leasing contract is the lessor receiving losses due to full or partial non-payment by the lessee of the lease payment (within the amount and number of cases of non-payment of lease payments established at the conclusion of the insurance contract, which can be recognized as insured events) in the period established by the contract leasing period due to accidental loss of property that is the object of leasing; introduction of legislative acts that make it impossible for the lessee to fulfill its obligations to pay lease payments; financial insolvency of the lessee, documented.

Depending on the established number of cases of non-payment of lease payments, which can be recognized as insured events, appropriate coefficients are applied.

The sum insured is set in the amount of leasing payments (excluding the margin of the leasing company), by the payment term falling on the insurance period, or in a certain percentage of this amount.

test questions to topic 8

1. What factors determine the competitiveness of products in the foreign market?

2. What indicators are taken into account when assessing the possibility of insuring an export contract?

3. What is the waiting period for an export contract insurance contract?

4. What is credit limit?

5. What is the essence of entrepreneurial risk?

6. What is the object of financial risk insurance?

7. What losses can be insured during the purchase and sale?

8. What is an insured event when insuring financial risks?

9. How is the sum insured determined under various financial risk insurance contracts?

10. How is the insurance rate and insurance premium calculated for financial risk insurance?

11. How is the amount of insurance compensation determined when insuring financial risks?

12. What are the features of financial risk insurance under leasing agreements?

13. In what cases is the insurer exempted from paying insurance indemnity when insuring financial risks?

Topic 9. Medical insurance for people traveling abroad

Lecture 14 Medical insurance for people traveling abroad

Basic concepts:

medical insurance of citizens traveling abroad; medical insurance of foreign citizens temporarily staying in the Republic of Belarus; assistance; super assistance;

The practice of domestic insurance market testifies to the insignificant development of medical insurance in the republic. Currently, the following types of it are carried out: medical insurance of citizens traveling abroad; medical insurance of foreign citizens temporarily staying on the territory of Belarus; voluntary medical insurance of citizens of the republic.

The most widespread medical insurance for citizens traveling abroad, which allows you to cover the costs of treatment during your stay abroad in case of a sudden illness or accident.

This type of insurance is mainly intended for insurance coverage in case of sudden illness, bodily injury or death as a result of accidents stipulated by the insurance conditions that occurred during the stay of the insured person abroad.

Insurance can be carried out in a voluntary and mandatory form. It may be mandatory if the legislation of foreign states or consular services provide for the mandatory availability of an insurance policy for those entering the country. These requirements are imposed when issuing an entry visa to the Schengen countries. It entered into force on March 25, 1995 and united the seven most visited European countries by foreign tourists: Belgium, Germany, Spain, Luxembourg, the Netherlands, Portugal, and France. Then Austria, Greece, Denmark, Italy, Finland, Sweden and a number of other European states joined the Schengen Agreement.

The insurance conditions offered by domestic insurers differ:

Depending on the size of insurance rates, discounts and surcharges applied to them (group, family, children, etc.);

· the procedure for making payments (medical assistance, direct payment of bills of medical institutions or compensation of funds in the Republic of Belarus upon presentation of paid bills, etc.);

· a list of paid services (for example, medical evacuation and repatriation, legal services, etc. may be paid);

· Depending on the territory of validity of the insurance policy (the most expensive policies are for trips to the USA and Canada), as well as on foreign partners with whom the insurer cooperates.

The most common in this case is insurance in the form of assistance. Assistance means "help" in French. Its main task is to provide the client with urgent medical, technical, administrative assistance.

Medical Assistance guarantees the payment of expenses for treatment prescribed by a doctor, specialized transport
porting and hospitalization of sick and injured citizens, their maintenance and treatment in a medical institution, medical care if necessary and accommodation after discharge from the hospital (hospital), if there is no possibility of immediate transportation to their homeland. However, it does not provide services for targeted treatment abroad and dental prosthetics, non-reimbursable
expenses for the treatment of diseases that the policyholder was aware of at the time of conclusion of the insurance contract are covered, but the so-called “removal of acute pain” is paid in case of exacerbation of a chronic disease that threatens the life of the policyholder.

In foreign practice, there are combined policies that compensate for a wide range of services of the so-called "super-assistance", as well as temporary and long-term, individual and collective policies. For example, they may provide services or reimburse expenses of the following nature:

under a policy for the provision of services at the place of residence - calling a doctor, orderlies, ambulances, booking places in hospitals, providing assistance with household chores, plumbing, carpentry, glasswork and other specialized work;

under a policy in the form of an assistance for citizens all over the world - repatriation, return and escort by orderlies from the place of the accident to the place of residence, baggage forwarding, medical care, lawyer services;

· under the policy of special ski assistance - search and provision of medical assistance to victims in the mountains, compensation for maintenance costs and ski courses, payments for unused vacation days;

under the car assistance policy - repair and delivery of the car to the nearest service station; ensuring the transportation of the insured and the persons following with him to the permanent place of residence if it is impossible to further use the damaged car, as well as its transportation to the place of residence of the insured; organization of accommodation of the insured for the period of urgent car repair.

To provide our clients with medical care insurance organizations conclude contracts with foreign specialized organizations engaged in medical assistance, such as, for example, Coris (France), Preventa (Lithuania), Mercury Assistance (Germany), etc. The telephone numbers of the dispatch centers of these organizations are indicated in insurance policies. If necessary, the insured must call the indicated numbers in order to start the system of organizing medical care.

The acquisition of such an insurance policy is a necessary condition for traveling abroad. The object of insurance is the property interests of the insured person, which do not contradict the legislation of the Republic of Belarus, associated with the costs of providing him with medical care, as well as other costs associated with the occurrence of an insured event during his stay abroad of the Republic of Belarus.

The following events are recognized as insured events:

· sudden illness that threatens the life and (or) health of the insured.

A sudden illness for the purposes of this insurance is a change in the state of health of the insured during the period of validity of the insurance contract, in which:

– there are acute symptoms and the provision of medical assistance, according to the doctor, is necessary until the return of the insured to the country of residence.

– the absence of urgent medical intervention may lead to a serious impairment of body functions, serious permanent dysfunction of any organ and (or) a threat to the life of the insured.

The fact that the diagnosis was preceded by the words “acute”, “sudden”, “severe” is not a basis for making payments.

· accident.

An accident is a sudden, unforeseen event, accompanied by injuries, wounds, mutilations or other damage, burns, frostbite, hypothermia, resulting in loss (disorder) of health, or death of the insured.

· dental care due to the onset of acute toothache or injuries resulting from an accident.

· death of the insured caused by a sudden acute illness or accident.

Events are not insured events if they occurred as a result of:

- epidemics, natural disasters of a massive nature;

– industrial injuries or illnesses received during the performance of work, except for cases when the performance of such work is directly indicated in the insurance contract and an additional insurance premium is charged;

- any infectious diseases that could be prevented by early vaccination;

– practicing any sports by the insured, except for cases when an additional tariff has been paid;

– performance of rescue operations and liquidation of consequences of natural disasters, fires, environmental pollution, accidents.

Insurance is carried out without a preliminary medical examination of the insured.

The cost of the insurance premium (contribution) depends on such factors as the duration of the trip, the distance of the host country, the amount of the insurance amount (liability limit), the age of the traveler, the number of people in the group of tourists. In terms of insurance, when calculating premiums, discounts are provided depending on the number of policies purchased, the presence of children in the group or persons over 60-75 years old. The policies also provide for various deductibles depending on the limits of liability and the country of travel. An insurance policy can be issued for one, 2-3 people or for a group. It indicates the name, year of birth, time spent abroad, the amount insured and the amount of the insurance premium.

In insurance in the form of assistance, insurance companies usually set a limit on their liability, which determines the maximum reimbursement of medical expenses abroad. The size of the limit depends on a number of factors: the route of the foreign trip, the volume of services provided for by the policy, the time of departure, etc. Embassies of such countries as Germany, Austria, France recognize insurance policies with the insurer's liability limit not less than 30-50 thousand US dollars.

The insured person or his legal representative can pay for medical expenses on his own. Reimbursement of expenses to the insured person, paid by him independently, is carried out after his return to the Republic of Belarus upon presentation of supporting documents in an amount not exceeding a certain amount.

In addition to the listed types of health insurance, international transport received a wide practice of medical
qing insurance for professional drivers of motor vehicles for the period of their short-term trips abroad.

Having a medical insurance policy allows you to receive emergency medical care for the treatment of injuries resulting from accidents, as well as in case of sudden illness.

At the same time, the insurer pays for outpatient services, medicines and medications, hospitalization (room and meals), operations, laboratory services, medical evacuation, return of the remains to their homeland, ground ambulance services. The insured pays himself only the amount due for providing additional services not covered by the insurance contract.

The terms of health insurance depend on the duration of the foreign trip or the need for regular travel and range from one day to one year. At the same time, insurance rates in freely convertible currency range from 2 (for a period of one day) to 110 (for a period of one year) US dollars, and for drivers performing international road transport, the insurance premium for the year is
55 USD.

When leaving on a business trip abroad, the insurance premium for medical insurance may be charged in the field of production to the cost price in the event that the issuance of travel documents provides for the mandatory purchase of a policy of this type.

Medical insurance for foreign citizens makes it possible to cover the costs of their treatment during their stay in Belarus. The main insurers here are foreign citizens studying under contracts in educational institutions of the republic. Insurers provide, as a rule, payment for a preliminary medical examination, emergency and inpatient medical care in case of sudden illnesses and accidents. The proposed insurance programs differ depending on the amount of insurance premiums, sums insured for various types of risks, as well as the list of paid services and other conditions.

For foreign citizens and stateless persons temporarily staying in the Republic of Belarus since October 1, 2000, the Presidential Decree of June 26, 2000 No. 354 introduced compulsory medical insurance. The sum insured is determined in the amount
5 thousand US dollars. The insurance premium depends on the length of stay (two days - 1 USD, for a week - 4 USD, for a month - 15 USD, for a year - 85 USD). This insurance does not apply to officials (heads of state and government, diplomats, etc.), refugees and citizens of countries with which agreements on mutual medical assistance are concluded.

Security questions for topic 9

1. What types of medical insurance of citizens are provided in the Republic of Belarus?

2. In what form is medical insurance provided for citizens traveling abroad?

3. In what form is the medical insurance of foreign citizens temporarily residing in the Republic of Belarus?

4. What conditions of health insurance are offered by domestic insurance companies?

5. What is assistance and super assistance insurance?

6. What expenses are guaranteed by medical assistance?

7. How is the amount of the health insurance premium for citizens traveling abroad determined?

8. What determines the limit of liability of an insurance company for medical insurance of citizens traveling abroad?

9. What are the features of medical insurance for professional drivers of motor vehicles for the period of their foreign trips?

10. What expenses are covered by the medical insurance of foreign citizens temporarily staying in the Republic of Belarus?

Literature

2. Decree of the President of the Republic of Belarus dated February 19, 1999 No. 100 “On the procedure and conditions for conducting compulsory insurance civil liability of vehicle owners.

3. Decree of the President of the Republic of Belarus dated July 9, 2004 No. 320 “On introducing amendments and additions to the Decree of the President of the Republic of Belarus dated February 19, 1999 No. 100”.

4. Decree of the President of the Republic of Belarus dated June 20, 2005 No. 287 “On certain measures to protect the rights to housing”.

5. Decree of the President of the Republic of Belarus dated June 26, 2000 No. 354 “On Compulsory Medical Insurance of Foreign Citizens and Stateless Persons Temporarily Residing in the Republic of Belarus”.

6. Alexandrova T.G., Meshcheryakova O.V. Commercial insurance. M., 1996.

7. Balabanov I.T., Balabanov A.I. Foreign economic relations: Uch. allowance - M .: Finance and statistics, 2000.

8. Gvarliani T.E. Cash flows in insurance. M.: Finance and statistics, 2004.

9. Gvozdenko A. A. Fundamentals of insurance - M .: Finance and statistics, 1998.

10. Gvozdenko A.A. Financial and economic methods of insurance: Textbook, M.: Finance and statistics, 1998.

11. Kabushkin S.N. Bank credit risk management: Uch. allowance, M.: New knowledge, 2004.

12. Karbanovich I.I. International road transport. - Minsk: Forwarder, 2004.

13. Kovalenko N. N. Legal regulation insurance in the Republic of Belarus: Uch. allowance. - Minsk: RIVSH, 1999.

14. Nazarenko V.M., Nazarenko K.S. Transport support of foreign economic activity. Moscow: Center for Economics and Marketing, 2000.

15. Fundamentals of insurance activities. // Ed. T.A. Fedorova– M.: BEK, 1999.

16. Deposit insurance. Moscow: Book-service, 2004.

17. Insurance business: Uch. allowance. // Ed. M.A. Zaitseva, L.N. Litvinova. - Minsk: BSEU, 2001

18. Shapkin A.S. Economic and financial risks. Evaluation, management, investment portfolio. Moscow: Dashkov i Co., 2004.

19. Shakhov V.V. Insurance: Textbook for universities. – M.: UNITI, 1997.

20. Shchiborsch K.V. Analysis of the economic activity of Russian enterprises. – M.: Business and service, 2003.

21. Yuldashev R.T. Insurance business: Dictionary-reference book: M.: Ankil, 2000.

22. Yurchenko L.A. Financial management of the insurer: Uch. allowance. M.: UNITI-DANA, 2001.

Control questions for the exam (test)

1. The history of the emergence and development of insurance.

2. Factors determining the need for insurance.

3. Signs that determine the economic essence of insurance.

4. Principles of insurance

5. Economic essence and content of insurance.

6. Insurance functions.

7. Insurance risk and its classification.

8. Methods for assessing and managing insurance risk.

9. Classification of insurance.

10. Forms of insurance.

11. Organizational and legal forms of insurance companies.

12. State regulation of insurance activities.

13. Functions of the Main Directorate insurance supervision Ministry of Finance of the Republic of Belarus.

14. The procedure for organizing relations between the insured and the insurer.

15. Procedure for concluding insurance contracts.

16. Concepts of insurance contracts and their types.

17. Estimation of the insured object, sum insured and insurance premium.

18. The concept of the insurance rate, its structure and formation.

19. Specific features of foreign economic activity insurance.

20. Terms of insurance of foreign trade contracts.

21. Risks in foreign economic activity.

22. Insurance of financial risks.

23. Insurance of credit risks.

24. Features of cargo insurance.

25. Terms of cargo insurance.

26. Vehicle insurance.

27. Civil liability insurance of vehicle owners.

28. Personal insurance for those traveling abroad (travel assistance policy).

29. Liability insurance of carriers and forwarders.

30. Insurance of the carrier's liability to the customs authorities.

31. The role of BRUE "Beleximgarant" in the insurance of foreign economic activity.

32. Net tariff in the structure of the insurance tariff: purpose and formation procedure.

33. Cargo insurance in the basic terms of delivery "Incoterms-2000".

34. Features of liability insurance.

35. Expenses for doing business in the insurance rate.

36. Profit in the structure of the insurance rate.

37. Deductions for preventive measures in the insurance tariff.

38. Civil liability insurance of vehicle owners in the "green card" system.

39. Formation of profit of the insurance company.

40. Insurance funds: types, purpose and formation.

41. Insurance of financial risks.

42. Medical insurance for those traveling abroad.

43. Principles of compulsory insurance.

44. Principles of voluntary insurance.

45. Medical insurance of foreign citizens staying on the territory of the Republic of Belarus.

Appendix

Law of the Republic of Belarus "On insurance"

(Bulletin of the Supreme Council of the Republic of Belarus,

1993, No. 22, Art. 276)

[Changes and additions:

of the Supreme Council of the Republic of Belarus, 1994, No. 3,

art.24) ;

legal acts of the Republic of Belarus, 2000, No. 13, 2/142)