Insurance business risks

Insurance business risks

 Insurance business. Insurance business riskovStrahovanie business risks (Eng. Business risks insurance) - property insurance sub-sector, which provides for compensation for losses incurred by the entrepreneur or the loss of expected income of the insured business activity in cases of breach of its contractors or changes in these activities for reasons beyond his control.
 

For insurance business risks include species such as:


    Business interruption insurance for the loss of or damage to property as a result of fires, explosions, accidents and other events;
    investment insurance against political and commercial risks;
    deposit insurance;
    financial guarantee insurance;
    insurance against the risk of default;
    export credit insurance and others.

 Under the terms of contracts of insurance business risks the insurer undertakes to make insurance payment in the amount of full or partial reimbursement of lost income or incurred additional expenses caused by events such as:


    stop or reduce the volume of production or activity as a result of specified reasons;
    counterparty bankruptcy of the insured;
    any failure to perform its contractual obligations contractors, is a creditor of the transaction;
    adoption of regulations or other actions of the authorities, worsening the position of the insured;
    participation of the insured in litigation, etc.

Objects of insurance business risks are the property interests of policyholders related to the exercise of commercial activities. In accordance with the Civil Code of business risks insurance contracts are only for the benefit of policyholders themselves.
 Contracts of insurance business risks entities - nestrahovateley negligible.
 The sum insured under insurance business risks can not exceed the insured losses from business activities that the insurer could incur when the insured event. The conditions of contracts of insurance business risks often provide for the establishment of the franchise (insurance).
 Extent of liability of the insurer, depending on the conditions may be different - from natural disasters to factors of socio-political nature. The specificity of the insurance business risks rise to a number of the requirements to insurance contracts. In particular, the insured must submit a certificate of registration, license or patent for the uninsurable activities, other necessary documents.
 In a statement about the desire to enter into a contract, he must give detailed information on the business activities, the conditions of its implementation, the expected revenues and expenditures, contracting, contractors, and other circumstances related to the degree of risk. The emergence of the insurance business risks was, on the one hand, the usual consequence of the expansion of insurance of property risks, and the other - the result of the development of new fields of activity of insurers - guarantees.
 Insurance business risks is intermediate between property insurance and liability insurance, combining some of their features. It follows from the very nature of the risks in business caused by two types of contradictions: between man and destructive forces of nature and between people in the process of socio-economic relations.
 Therefore, when conducting insurance business risks specific to the above uses the insurance industry approaches to determining the extent of liability and risk assessment. In addition, in the interpretation of the concept of insurance business risks in a broad sense to include it all the types of insurance that provide insurance protection of property interests of entrepreneurs (both legal and natural persons) in the performance of commercial activities.
 With this approach to insurance business risks include a large number of types of property insurance, liability and personal insurance. In Russia, most types of insurance business risks has not yet been fully developed due to both the lack of a stable demand for it from potential policyholders and insurers with many unprepared for the meeting.
 In addition, as shown by the experience of such insurance abroad, and there is not a mass. Operations on many types of insurance business risks, the limited number of insurers due to their specificity.