Lectures on the discipline "Insurance Business"

Developed by: Art. teacher

Topic 1

Essence and economic nature of insurance

Question 1. The concept of insurance

Question 2. Insurance as an economic category

Question 3. Insurance function

Question 4. The concept of risk in insurance. Types of insurance risks

Question 5. The most important concepts and terms of insurance

Question 1. The concept of insurance

The life of people, their property, material values ​​in the process of production, social, ; political and cultural activities are constantly at risk of being partially or completely lost due to the onset of extraordinary events (natural disasters, catastrophes, accidents, terrorist attacks, fires). Naturally, the owner of material assets or their producer, any person does not want to be at risk of losing property or their health and is interested in the existence of a source of funds to compensate for losses, losses in the actual occurrence of emergency events (such events are called insured events in insurance). In the language of science, we can say that every person, owner property, has an insurable interest and would like to be protected in the event of an insured event, that is, to be insured (Fig. 1).

1 This way of providing economic security , reasonable forethought arose in the deepantiquity (there is documentary evidence of this, regarding lingering as far back as the 18th in. BC e.). Later, insurance (insurance protection) began to cover a wider range of insurance objects: material security for citizens in the event of the death of the breadwinner of the family, disability, in the event of special events in personal life (reaching a certain age, retirement, wedding), third-party liability insurance , which may be damaged, and some others.

Rice7. Interrelation of concepts
"property owner" - "insurance"

What is the original meaning of the concept hovenie"?

Despite random probabilistic character throughextraordinary events ("may happen, or maybe not"), cheLovek noticed long ago that such events threaten everyone, notcome not for everyone, that the number of victims is alwaysfewer people are afraid of their offensive. namesbut therefore, even in antiquity, interested persons whonikla thought of uniting the owners of property in thein order to jointly compensate for material damage to the injured party through the joint and several distribution of damagesba between the members of the association.

The primary meaning of insurance lies in the closed, solidary participation of interested parties.parties in compensation for property damage (harm), according tocarried by the injured member of the association afterthe occurrence of an emergency event.

The interest of the participants in the association in the compsettlement of property damage to the injured partyrit about the economic nature of insurance and allows raceswatch it like economic category. Thus, insurance is an economic relationship for the creation of special cash funds from contributions individuals and legal entities and the subsequent use of these funds to compensate for damage (harm) in the event of various adverse events.

Question 2. Insurance as an economic category

Economic category of insurance is a theory cal expression of really existing social and proindustrial relations between people about pre warning, localization and overcoming negativeconsequences of extraordinary events of natural and socialother nature, as well as to compensate for the damage caused by thesedamage events.

The economic relations of insurance are complex and manygoobrazny. The whole set of economic relationscan be considered in three aspects: a) in relation to
insurance protection of social production or, otherwiseche, as an economic category of insurance protection in generalprivate production; b) in relation to insurance coverage
property and income of the population or, otherwise, how economicallymedical category of insurance protection of property and up topopulation moves, and c) in relation to all set of economic relations of insurance, i.e. as an economicthe medical category of insurance as a whole, as a holistic phenomenon

Let's briefly cover each of these aspects.

a) From the initial idea of ​​​​insurance, it follows thatthat insurance is an element of production fromwearing. Since the public production objectively
is risky, for economic securitypreventive and protective measures, there is a needthe possibility of forming a special insurance fund.
It is in the insurance fundfinds its material embodiment the economic category of insurance protection in generalnatural production.

b) As human society develops,niya of insurance there was a need of insurance protection of the person.

Technological progress, urbanization, environmental pollutionliving environment, increasing the pace of social lifeover the past decades have led to a marked increase in domestic and domestic injuries, morbidity and
mortality of the population, including in the able-bodied populationgrow. Exacerbated the problem of material support
citizens who have lost their ability to work due to the achievementold age. The named collection of negapositive consequences of scientific and technological progress and other factors of social life, including the connectedness
with the transition to market relations, formed a special
risk group and specific economic relations
between people to compensate for losses in their income.

In the insurance risk of loss of property, health and up to
movements of the population and in appropriate protective measures is social entity economic category of insurance protection of property and income dov population.

This category is in the nature of public insurance.howl protection, materializing in public funds consumption(social insurance, pensions)nie). Since the state cannot fully satisfyto steal people's interests at the expense of public funds, warehouseobjective possibilities are given for supplementingpublic insurance protection of the population through part of the monetary investments of the population itself.

c) The economic category of insurance, considered as a holistic phenomenon, covers the whole eco system nomic relations, which includes owlset of forms and methods for the formation of trust funds Money used for damages,due to insurance risks of various nature,category of insurance has a departmentfeatures that are also characteristic of categories finance.

Like finance, insurance is driven by movement.monetary form of value in the formation and usezation of the relevant trust funds of cashmeans of the process of distribution and redistribution tomoves and savings, thus, insurance activities, as well asfinancial, can provide for the implementation of commercialoperations and investment activity. However, countryfinancial activity is different from financial probability movementmonetary form of value. Besides,the category of insurance is different from the category "finance"closed distribution damage, while incomestate budget, formed at the expense of paymentzhey legal and individuals are distributed not only to contributors.

A characteristic feature of the category under consideration isalso what insurance is looking at redistribution damageboth between territorial units and withintime. At the same time, for an effective territorialredistribution of the insurance fund during the year between
insurance companies want enough painour territory and a significant number of insurableobjects. The fact is that the random nature of the occurrence of emergency events goes beyond onenew business year. As a result, there is nonecessity reservations during favorable timessti insurance payments for their use assource of remedies in an unfavorable year. .

Closed relationships of the insured related tolidar layout of the amount of damage, determine who volatilityinsurance payments collected in the insurance fundzhey. Insurance payments of each insured person, payin the insurance fund, have only one purpose -compensation for the probable amount of damage on a scale determinedfief territory (region, territory, republic) and duringa certain period. In the event of an emergencyevent, the entire amount of insurance payments will be returned to form compensation for damage within the time taken into account time period on the same regional scale. sign recurrence funds brings the economic category of insurance closer to the category of credit. Noting such a return as a characteristic feature of insurance, it should be borne in mind that it refers primarily to life insurance.

Question 3. Functions of insurance

The functions of insurance are external forms that make it possible to identify insurance as part of a subsystem of the state's financial system.

Insurance as part financial system expresses its economic essence primarily through the distribution function. The distributive function of insurance, in turn, is concretely embodied in the implementation of specific functions that are unique to insurance: risky, preventive and savings.

The most important of these functions is, of course,

1) risk function, since it is the presence of risk that stimulates the emergence of insurance. There is a risk - there is a potential for insurance with all its attributes, its manifestations, it is within the framework of the risk function that the redistribution of the monetary form of value between insurance participants occurs in connection with the consequences of an emergency insurance event.

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

3) The essence of the savings function manifests itself in the need for insurance protection cash savings population accumulated in commercial banks.

In addition to these specific functions, insuranceperforms also control, credit and investment function.

Meaning control function is strictly targetedformation and use of insurance funds, fund. Implementation of the control functionthrough financial control for the legal conduct of insurance operations.

Noting in the answer to question 2 such feature forinsurance is typical, the return of insurance premiums appliesespecially for insurance

life) . In this sense, one can sayabout credit function insurance.

Possibility of participation of free insurance fundsfund in the investment activities of insurance organizationstions by investing in various projects with an appropriate return on investment speaks of an investmentfunction of insurance.

Question 4. The concept of risk in insurance. Types of insurance risks

Risk in insurance is an essential element of the concept of "insurance".

The term "insurance risk" ("insurance risk") is ambiguous: .

Under the insurance risk is meant:

1) the danger against which insurance is made - something that can happen, but does not have to happen;

2) degree, or magnitude,
expected danger;

3) separate insurance,
a certain type of liability of the insurance company;
4) the amount of liability in one or more types of insurance.

Let's consider these concepts in more detail.

a) Insurance risk as an expected danger. AT given risk is a particular phenomenon or combination ofphenomena (an insured event or a set of events), the potential for causing damage to an objectinsurance. For example, this is the possibility of loss or damage to property from a fire, flood, earthquakenia, accidents and other disasters. With regard to human life and health, such events may be the loss of labordisability from an accident, illness, death, etc.

Insurance risk in its essenceis an event with negative consequencesmi. Risk is always only a perceived opportunity onthe occurrence of the damage, not the damage itself. By its very nature,Warning risk is an event with negative consequencesactions inherent in the concept of damage.It is necessary to distinguish the risk of an insured event from an insured event.

Insurance risk, expressesthe potential for a hazard to occurthe worst case is already the actual onset of a dangerousevents. You can talk about the difference "insurance happening"and "insurable event".An insured event is a phenomenonsignificant in scale, which sometimes covers a largenumber of insured events. For example, an earthquake is an insured event that can cause a lot of privateinsured events: fire, destruction of buildings, deathpeople, etc. Fire, in turn, in a specific manifestationcan be considered as an insured event (burned outhouse), in another - a whole insured event, as a result ofthose whose house not only burned down, but the case also sufferedpasser-by, etc. It all depends on the nature of the risk and whenobject taken for insurance.

By their nature, the risks are divided into the followinggeneral groups: objective and subjective, universal(covering a large amount of risks) and the individualreal (which include individual valuable items,collections, rarities), catastrophic, causing irreparable damage (accident at the Chernobyl nuclear power station), ecological, transport, political, military, technicalcal. In addition, there are large, medium and small ""insurance risks, depending on the size of their insurance"assessments, as well as more dangerous and less dangerous (according to the degree probability of occurrence of an insured event).

b) Insurance risk as a degree of danger arisinginsured event. AT In this sense, the term "riskhovoy" means the probability of the occurrence of an insured eventtea. An increase in insurance risk threatens largerlosses for the insurance company, risk reduction leads to a decrease in the likelihood of an insurance event tea, therefore, to a possible reduction in sizedamage from it.

in) This type of insurance risk, especially in international native practice of insurance, call a specific object insurance (for example, ship) or type of liabilityinsurance company (wreck of the vessel).

Lecture 1
Insurance: concept, essence, functions
Insurance is a relationship to protect the interests of legal entities and individuals of the Russian Federation, constituent entities of the Russian Federation and municipalities in the event of certain insured events at the expense of monetary funds formed by insurers from paid insurance premiums.
An insured event is an event that has taken place, provided for by the insurance contract or law, upon the occurrence of which the insurer is obliged to make an insurance payment to the insured or the insured person (benefit to the acquirer) or other third parties.
When insuring, it is necessary to have 2 parties: the insurer and the insured. Insurers ensure the accumulation of insurance premiums and payments to policyholders in case of damage to the insured property. Wherein insurance premiums cannot be considered as the profit of insurance companies, because insurance reserves are formed at the expense of contributions, from which insurance indemnities are paid.
The insurance fund is characterized by the return of funds, since the number of contributions for each period of time is greater than the number of payments. In modern economic practice of developed countries reserve funds insurance companies are the second most important credit resource of the economy after bank deposits.
Insurance also serves as an incentive for business activity, providing firms with the opportunity to invest in production the funds that would have to be directed to the formation of their own reserve fund to cover possible losses.
Insurance covers financial risks(loss of a certain amount of funds), as well as pure risks that arise when only unfavorable and neutral scenarios are possible.
In conditions market economy insurance acts as a means of protecting the property interests of legal entities and individuals - on the one hand, and as a commercial activity that generates income - on the other hand.
In its economic content, insurance is fundamentally different from finance and loans. The economic category "insurance" includes the formation of a special fund at the expense of contributions from legal entities and individuals, its use to compensate for damage and provide assistance to citizens in the event of insured events.
Insurance as an economic category is characterized by the following features:
1. closed redistributive relations between participants in insurance, related to the distribution of the amount of damage between all participants;
2. formation of a target insurance fund at the expense of payments of insurers and subsequent insurance payments to insurers upon the occurrence of insured events;
3. dependence of the amount of the insurance premium on the number of participants in the creation of the insurance fund;
4. making a profit both from the insurance activity itself and from investment activity.
The peculiarity of insurance, which brings it closer to lending, is the return of the insurance fund. Just as a loan ensures the return of funds, so does life insurance characterized by the return of funds, because b O Most of the contributions are returned. With regard to other types of insurance, indemnity payments are made only upon the occurrence of an insured event. Thus, insurance enters into monetary relations, fixes them with legal documents and has its own characteristic features, due to signs (see above).
The specificity of insurance as an economic category is expressed in:
- the random nature of the occurrence of a certain event and the amount of damage caused by this event;
- probabilistic assessment of possible damage and calculation of insurance rates, with the help of which insurance funds are formed;
- uneven distribution of the amount of insurance premiums between interested parties.
The fundamental principle of the organization of insurance business- this is the inclination of insurance to the concentration of the insurance fund.
The main functions inherent in insurance include:
1. risky (main, because the presence of risk contributes to the emergence of insurance relations);
2. warning;
3. savings;
4. control.
As part of the risk function, the monetary form of value is redistributed among insurance participants.
The preventive function is aimed at financing, at the expense of a part of the insurance fund, measures to reduce the insured risk.
Saving money with the help of life insurance is associated with the need for insurance protection, achieved family wealth. Thus, insurance can also perform a savings function.
The control function of insurance lies in the strictly targeted formation and use of the insurance fund.
At present, social insurance and pension provision have been widely developed, aimed at insurance protection in case of illness and disability.

Lecture 2
Insurance classification
Insurance is classified according to the objects of insurance and the type of danger. Insurance by objects is generally accepted and is divided into insurance by industry, sub-sector and type.
Hazard insurance applies only to property insurance. The type of insurance is insurance homogeneous objects from their inherent dangers.
Types of insurance:
1. medical;
2. state property, property of citizens and legal entities;
3. agricultural insurance;
4. responsibility of borrowers for non-repayment of loans;
5. business risks,
6. financial risks,
7. civil liability,
8. means of transport and cargo;
9. from accidents and diseases;
10. life and pensions.
According to the form of ownership, insurance companies are divided into:
- state;
- non-state;
- selling their services in the domestic market, the foreign market and the mixed market in the field of compulsory and voluntary insurance.
According to the forms of organization, insurance is:
1. state, when the state acts as an insurer;
2. joint-stock, where the insurer is private capital in the form of various companies with authorized capital;
3. mutual (mutual insurance society), when non-state organizational forms are created by individuals or legal entities on a shared basis and not for commercial purposes, but for the purpose of social protection of their property interests;
4. medical (this organizational form of insurance activity is intended for social protection of the population).
The insurance object, which is divided into categories, is the fundamental one in the insurance market:
a. having value;
b. having no value.
Depending on the objects of insurance, insurance branches are distinguished:
1. personal insurance:
- life insurance (mixed or linked life insurance; additional pension insurance; "survival" insurance; "annuity" insurance; disability and death insurance; insurance for children and elderly parents; insurance for marriage; insurance for women in case of childbirth ; reproductive life insurance [insurance protection for women in case of complications of organs that ensure the performance of childbearing functions]; pension capitalization insurance; insurance against AIDS and venereal diseases; pregnancy insurance; insurance against alcoholism and divorce; insurance against unforeseen circumstances; insurance against criminal acts of third parties individuals; insurance of investment investments; insurance of pupils of children's boarding schools from 1 to 16 years). Life insurance contracts are concluded for a period of at least 1 year;
- insurance against accidents and illnesses (insurance of tourists and travelers; insurance of athletes; insurance of children and schoolchildren; insurance in case of illness up to 4 months; group insurance of tourists against accidents; insurance against accidents on hunting; group insurance against diseases; insurance of expenses in the event of a certain disease or infection; insurance for loss of income due to illness). Accident and illness insurance is a set of types of personal insurance that provides for the obligations of the insurer for insurance payments in a fixed amount, either full compensation or partial compensation, for additional expenses of the insured person caused by the occurrence of an insured event.
- health insurance (insurance of general medical expenses; insurance of medical expenses when traveling abroad (tourists); insurance of expenses in case of a certain disease or surgical operation; insurance of expenses in case of a medical examination; insurance of dental expenses; insurance of daily expenses while staying in a hospital; insurance outpatient care; insurance for diagnosing diseases; insurance for other medical expenses, with the exception of compulsory medical insurance). Health insurance is a set of types of insurance that provide for the obligation of the insurer to make insurance payments in the amount of partial or full compensation for the additional expenses of the insured person caused by the insured person applying to medical institutions for medical services included in the health insurance program;
2. property insurance (insurance of land transport; insurance of air transport; insurance of water transport; cargo insurance; insurance of other types of property, except for those listed [insurance of public housing stock; insurance of property leased; insurance of housing and garden plots; insurance electronic equipment, etc.] insurance of buildings of various religious organizations transferred to the use of religious organizations, but owned by the state). The object of property insurance is the property interests of a person with whom an agreement has been concluded related to the possession, disposal and use of property;
3. insurance of financial risks (insurance of business, commercial, exchange and currency risks; insurance in case of possible loss of expected profit; insurance of non-fulfillment of contracts by suppliers of products or, on the contrary, non-demand of products by consumers; insurance of the risk of non-repayment of a loan; insurance of guarantees). Financial risk insurance is a set of insurance types that provide for the obligations of the insurer for insurance payments caused by events such as production stoppages or reduction in production volumes, for individuals - job loss, bankruptcy and legal expenses;
4. liability insurance - liability to third individuals or legal entities (debt insurance and insurance in case of compensation for harm).

Lecture 3
Forms of insurance
Insurance services may be provided on a mandatory or voluntary basis. Accordingly, the forms of insurance can be 2:
- mandatory;
- voluntary.
Voluntary insurance is carried out by virtue of the law and on a voluntary basis, i.e. carried out on the basis of an agreement between the insured and the insurer. The rules of voluntary insurance that determine the general conditions and procedure for its implementation are established by the insurer independently in accordance with the legislation governing insurance activities. At the same time, the law determines the general conditions of insurance, and the specific conditions for its implementation are determined by the contract concluded between the insured and the insurer. The voluntary form of insurance is not compulsory and provides policyholders with the opportunity to choose services in the insurance market. Voluntary insurance is selective, since not all potential insurers are willing or able to participate in it, and for certain categories of persons, restrictions are established by law.
Voluntary insurance is based on a number of principles:
1. the principle of voluntary participation in insurance;
2. the principle of selective coverage by voluntary insurance of individuals and legal entities;
3. the principle of limiting the term of voluntary insurance, which is determined by the fact that the beginning and end of the term of insurance are separately stipulated in the contract;
4. the principle of paying a one-time insurance premium or periodic insurance premiums.
Compulsory insurance is insurance carried out by virtue of laws from the standpoint of the public goal of conformity. This form insurance differs from voluntary by the presence of a potential policyholder's statutory obligation to insure. When conducting compulsory insurance, there is insurance liability unlimited in time for objects established by law, which occurs automatically when an insured event occurs.
International law links compulsory insurance with the need to protect the interests of third parties.
Compulsory insurance is based on certain principles:

Lecture 4
1. the principle of obligation;
2. the principle of continuous coverage (all objects);
3. the principle of automaticity (the insured is not obliged to declare to the insurance authority about the acquisition of the property subject to insurance; this property is automatically included in the scope of insurance);
4. the principle of operation of compulsory insurance, regardless of the insurance payments made (if the insured has not paid the insurance premium on time, the premium will be recovered from him in court);
5. the principle of perpetuity of compulsory insurance (the object of compulsory insurance is insured during the entire service life);
6. the principle of insurance coverage rationing (in order to simplify the insurance assessment and the procedure for paying insurance compensation, insurance coverage rates are established as a percentage of the insurance assessment or in rubles for a given area for one object).

Classification of insurance by types of insurance compensation
There are 2 types of insurance compensation:
- damage insurance. The insurance company is obliged to compensate the insured for the actual amount of damage to the extent that it is covered by the sum insured. The sum insured must not exceed the actual value of the insured property. In the event of loss insurance, only proven amounts of loss are indemnified;
- amount insurance occurs in life insurance, accident and illness insurance, and sometimes health insurance. Upon the occurrence of an insured event, the insured pays the insured a predetermined amount - the insurance premium.

Balance classification of insurance
The balance classification of insurance is used mainly for policyholders represented by business organizations, in particular, insurance of assets, liabilities and income is subject to insurance.
The basis of asset insurance is the insurance of material assets (fixed assets, inventories, work in progress, finished goods and goods, and insurance of possible losses on debt obligations).
Liability insurance insures the damage that arises from passive obligations and in particular credit insurance, insurance of statutory obligations of a business organization and insurance of damage that occurs in case of rejection of claims.

Classification of insurance by type of danger
The classification of insurance according to the type of danger is used to develop special methods for determining damage and insurance compensation. It includes 4 types of insurance:
1. "fire" insurance (everything that can be exposed to fire) and insurance against other natural disasters;
2. insurance of various agricultural crops, shrub plantations and fruit trees against drought, frost, hail, rainstorms, fire and other natural disasters;
3. insurance of farm animals in case of their death or forced slaughter.
4. insurance of means of transport against accidents, theft and other dangers.

I. Risk - fire, lightning strike, explosion, falling on the insurance property of manned aircraft or their parts. "Fire" insurance excludes damage caused by hostilities, internal unrest in the country, earthquakes, deliberate actions or negligence of the insured.
II. Covers crop production, as this industry is the most prone to natural disasters. The objects of insurance are the property interests of agricultural producers associated with the production process for growing crops (crops) and perennial plantations, as well as with the ownership and disposal of perennial plantations.
III. Under the insurance contract for farm animals, the following animals, owned by both enterprises and individuals, are usually insured:
- cattle and pigs, up to 6 months old;
- fur-bearing animals over the age of 6 months;
- horses and deer aged from 1 to 15 years.
Risks: illness and accidents.
IV. Vehicle insurance - motor vehicles subject to registration with the traffic police and water transport facilities registered in the prescribed manner. The objects of insurance are - everything that moves, incl. motor, sailing and rowing boats, yachts and boats. Risks: accidents, theft, fires, etc.

Reinsurance
Reinsurance is a system of economic relations, in accordance with which the insurer, accepting risks for insurance, transfers part of the responsibility for them on agreed terms to other insurers. The purpose of reinsurance is to create a balanced insurance portfolio and ensure the financial stability of insurance operations.
Relations between the reinsurer and the reinsurer arise by virtue of the reinsurance agreement, which defines:
- method of reinsurance;
- obligations of the parties;
- conditions for the occurrence of the reinsurer's obligation to participate in the insurance payment.
There are 2 parties involved in a reinsurance contract:
1. insurance organization transferring the risk;
2. an insurance organization that accepts the risk on its own responsibility.
The risk that is transferred is called reinsurance risk, and the process associated with its transfer is called reinsurance assignment. The main function of reinsurance is the secondary distribution of risk. There are facultative and contractual methods of reinsurance.
An optional method of reinsurance is that the reinsurer and the reinsurer are given the opportunity to assess the risks that can be transferred by reinsurance in whole or in part. A facultative reinsurance contract is an individual transaction relating mainly to one risk.
The contractual method of reinsurance (obligatory reinsurance) is a mandatory form of reinsurance in which all insurers operating in a given country are required by law to transfer all risks accepted for insurance in a prescribed proportion to a certain reinsurer (usually state).
Depending on the method of distribution of obligations between the insurer and the reinsurer, proportional and non-proportional insurance are distinguished.
Proportional insurance - in a certain proportion. Disproportionate - the sum insured, insurance premiums and insurance indemnities are not distributed between the insurer and the reinsurer in the same proportion, which depends on the economic potential of an insurance company.

insurance risk
Concept, essence, characteristic
An insured risk is a danger or accident against which insurance is provided. Insurance risk is realized through damage. All risks arising from economic activity legal entities and individuals are divided into 2 groups:
1. risks that can be insured;
2. non-insurable risks.
An insured risk is a risk that is characterized by the probability and randomness of the occurrence of an event, as well as by which the amount of damage can be estimated.
Depending on the source of danger, there are:
1. insurance risks associated with the manifestation of the elemental forces of nature;
2. insurance risks associated with targeted illegal actions of a person (theft, robbery, vandalism, misappropriation of material goods);
3. insurance risks of long-term life insurance and pension insurance.
Depending on the amount of liability of the insurer, there are:
1 universal risks, i.e. risks included in the standard scope of the insurer's liability (for example, property from fire);
2. individual risks - typical for unique objects of insurance.
A special group consists of specific risks:
1. catastrophic risks characterize potentially significant damage on an especially large scale;
2. anomalous risks - risks that cannot be attributed to one or another type of risk.

The most common are universal risks.

Thus, the insurance market is understood as a set of economic relations regarding the purchase and sale of an insurance product (insurance protection), the basis of which is the formation of supply and demand for it.
The objective basis for the development of the insurance market is the need to ensure the continuity of the reproduction process by creating trust funds Money, designed to protect the property interests of the population in private and economic life from unexpected, accidental, adverse circumstances, accompanied by damage.
In accordance with the law of the Russian Federation "On the organization of insurance business in the Russian Federation", the participants of the insurance market are:
- policyholders (insured persons or beneficiaries);
- insurance organizations;
- mutual insurance companies;
- insurance agents;
- insurance brokers;
- insurance actuaries (write out a definition);
- federal agency executive power whose competence includes the exercise of the function of control and supervision in the field of insurance business;
- associations of subjects of insurance business, including self-regulatory organizations.
Thus, we can conclude that the insurance market is an economic space in which insurers operate, which form the demand for insurance services, Insurance companies that meet this demand, and insurance intermediaries that promote insurance services from the insurer to the insured.
Scheme of organization of the insurance market
A - direct insurance without the participation of an insurance intermediary;

B - direct insurance

B - reinsurance

G - coinsurance

From the standpoint of a systemic integrated approach, the insurance market is a system that includes various relatively independent structural elements or subsystems with a set of:
1. organizational and economic relationships;
2. information relationships.
From this position, the structure of the insurance market includes:
- market of insurers;
- market of insurers;
- the market of insurance products.

Systematic understanding of the structure of the insurance market
(arrows indicate the presence of interrelations and mutual influence of the main elements of the structure of the insurance market)

The main participant in the insurance market in the Russian Federation are insurance companies operating in the Russian insurance market, which can be classified on the basis of various characteristics.
Classification of insurance companies
1. by the nature of the services provided:
- direct insurance companies;
- reinsurers;
2. by form of ownership:
- private insurance companies;
- state insurance companies;
- insurance companies with participation (on the basis of) foreign investments;
- mixed insurance companies;
3. by legal form:
- JSC;
- COMPANY;
- OOO;
- ODO;
4. by type of services provided:
- specialized insurance companies;
- universal insurance companies.

The development of the insurance market in the Russian Federation can be judged, first of all, by considering the dynamics of insurance premium receipts. The total volume of insurance premiums collected by insurers in 2010 amounted to 171 billion rubles, which is more than 8 times higher than in 2006. The growth rate of insurance premiums in recent years has exceeded the rate of inflation in our country. One of the important indicators characterizing the level of development of insurance is the ratio between the size of the insurance premium and GDP. In developed countries, its value ranges from 8 to 12%. In Hungary, the Czech Republic exceeds 2%. In the Russian Federation in the first half of the 90s, this ratio was? 1.3%. in 2008 it rose to 1.6% of GDP. In 2009 it already reached 2.1%. In 2010, 2.5%.
An analysis of the current state of the insurance services market in the Russian Federation allows us to draw the following conclusions:
1. services of insurers, with the exception of compulsory insurance, are used by 5 to 15% of citizens;
2. legal entities insure property for an amount not exceeding in aggregate 5% of its total value.
The underdevelopment of insurance is mainly due to:
1. low standard of living in the country;
2. distrust of insurance organizations, and sometimes the lack of need to have insurance contracts
Conducted sociological surveys of potential policyholders show that 1/3 of the respondents motivate their refusal of insurance services by the lack of funds. About 1/4 - distrust of insurers. More than 1/5 - lack of sense in insurance.
As for the structure of insurance premiums, more than 80% are voluntary insurance, less than 20% - compulsory. The growth in the share of voluntary insurance is a positive moment, since it is the level of development of voluntary insurance that characterizes, first of all, the state of the insurance market in the country.
In recent years, there has been a clear trend towards a reduction in the number of insurance organizations. At the beginning of 1997 there were 2,504 of them registered. At the beginning of 2000 - 1,532. At the beginning of 2011 - ? (to find).
A serious problem that limits the capabilities of Russian insurers is their low capitalization. The low capital of individual insurance companies limits the ability of insurers to hold liability under insurance contracts on a large scale. This leads to the fact that a significant part of insurance liabilities and, consequently, the insurance premium is transferred by reinsurance, including to foreign reinsurers.
Thus, main goal development of the national insurance system is the creation of such insurance protection of the property interests of citizens and legal entities, which would provide them with real compensation for losses, and would also allow the formation and efficient use of investment resources for the development of the economy.
Among the main tasks of forming an effective insurance system and, consequently, the development of the insurance market, the following should be highlighted:
1. creation of a full-fledged legislative base;
2. improvement of the mechanism of state regulation and supervision of insurance activities;
3. development of forms of transformation of the population's savings into long-term investments using the mechanism of long-term life insurance;
4. gradual integration of the domestic insurance system into the international insurance market.

Lecture 6
Task for the workshop:
1. reliability rating of the leading insurance companies of the Russian Federation as of February 1, 2011.
2. top 12 in agricultural insurance as of 01.02.2011;
3. top 12 in cargo insurance as of 01.02.2011;
4. top 10 in liability insurance;
5. top 10 for accident and illness insurance;
6. top-10 for VHI (voluntary medical insurance);
7. top 10 for property insurance
8. top - 10 in OSAGO;
9. rating of insurers by major insurance issues based on the results of 2010;
10. dynamics of the insurance market by main insurance issues (1st period - as of 01.01.2010, second period - as of 01.01.2011);
11. performance results of the leading insurance companies of the Russian Federation (total without CHI).

Participants of the insurance contract
The main subjects of the insurance market are:
1. policyholders - buyers of insurance services;
2. insurers - sellers of insurance services;
3. insured persons and beneficiaries may participate as consumers of insurance services;
4. The infrastructure of the insurance market consists of insurance intermediaries, reinsurers, emergency commissioners, adjusters and surveyors.
Insurers are organizations established to carry out insurance activities, i.e. assuming obligations to make an insurance payment upon the occurrence of an event specified in the insurance contract. In order to protect the interests of clients, special requirements have been established for the establishment and activities of insurers, which are as follows:
1. Insurers can only be legal entities, which must be established in any legal form established by law;
2. insurers must obtain a license certifying the right of the insurance organization to conduct operations on the types of insurance indicated in it
3. The authorized capital of the insurer paid exclusively in cash cannot be less than 25 thousand minimum wages established by law, and if the insurance company is engaged in life insurance, it cannot be less than 35 thousand minimum wages;
4. the subject of direct activity of insurers cannot be production, trade-intermediary and banking activities.
In addition to insurers, there are also reinsurers or reinsurers. The peculiarity of their activity is that they conclude reinsurance contracts with insurers. The essence of the reinsurance contract is the assumption by the reinsurer of the risk of non-fulfillment by the insurer of all or part of the obligations under insurance contracts.
Policyholders are persons who have concluded insurance contracts with insurers, are obliged to pay insurance premiums and have the right to demand from the insurer, upon the occurrence of an insured event, an insurance payment to themselves or to the beneficiary. Insurers can be:
- legal entities;
- capable natural persons.
In personal insurance, policyholders can be:
- citizens who have insured themselves or other persons, for example, children;
- legal entities that have concluded insurance contracts in respect of their employees or other individuals.
In property insurance, the insured may be the person who owns the insured property, as well as any other person.
In business risk insurance, policyholders can be legal entities or individuals engaged in any business activity.
In liability insurance, the insured may be any natural or legal person who transfers to the insurer the obligation to compensate for damage to other persons.

An insured person is a person in respect of whom an insurance contract has been concluded, i.e. who may experience an insured event directly related to his personality, the circumstances of his life or affecting the safety of his property rights and interests. The insured person must be indicated in the personal insurance contracts.
The beneficiary is the person in whose favor the insurance contract is concluded. The basic right of the beneficiary is that he receives an insurance payment upon the occurrence of an insured event.

Characteristics of insurance intermediaries
Insurance intermediaries can be insurance agents, insurance brokers, adjusters and surveyors. They are not parties to the insurance contract. And the tasks are:
1. promotion of insurance services from the insurer to the policyholders;
2. assistance in concluding reinsurance contracts;
3. assistance in the execution of the insurance contract.
insurance agents are persons acting on behalf of, at the expense and on behalf of the insurer strictly with the functions and instructions provided by the insurer. The functions of insurance agents can be:
- search for insurers;
- advising policyholders;
- preparation of insurance contracts;
- signing insurance contracts on behalf of the insurer;
- maintenance of the insured under contracts (mainly - this is the collection of insurance premiums).
Insurance agents can be both individuals and legal entities. The relationship between insurance agents - individuals, and the insurance organization can be built on the basis of the conclusion of an employment agreement. Insurance agents are divided into: direct, mono-mandate and multi-mandate.
Direct insurance agents include insurance agents employed by an insurance company, concluding insurance contracts only on behalf of this company and having a fixed salary (except for commissions). Such agents have a high level of professional training, but at the same time, the insurer is forced to bear constant wage costs that do not depend on their performance. At the same time, the wage system often does not encourage insurance agents to conclude a greater number of contracts.
The remuneration of monomandatory insurance agents, unlike direct ones, is carried out only in the form of a commission in proportion to the collected insurance premium. However, this payment method, while stimulating an increase in the volume of insurance operations, simultaneously leads to the fact that agents do not particularly care about the degree of insurance risk under contracts, i.e. they can enter into contracts under which they will have to carry out large insurance payments. In order to avoid this, insurers sometimes also stimulate the quality of contracts concluded by agents (for example, by increasing or reducing the size of the commission depending on the level of unprofitability under contracts concluded by agents).
Multi-member agents, unlike mono-mandate agents, can work for several insurance companies. They specialize in one or more types of insurance. Their services are beneficial to use by new or small insurance companies that do not have their own agent network.
Insurance agents - legal entities, can be travel or transport agencies, legal advice, notary offices and other organizations that, along with the provision of services in the main profile of their activities, offer the client to draw up an insurance contract. However, specialized organizations can also be insurance agents - legal entities.

Lecture 7
insurance brokers- these are legal entities or individuals duly registered as entrepreneurs, carrying out insurance intermediary activities on their own behalf and on the basis of instructions from the insured and the insurer. This type of assignment is called commission and regulated by the Civil Code of the Russian Federation. Insurance brokers can provide the following types of services:
1. search and attraction of clients to the conclusion of insurance contracts;
2. conducting explanatory work on the types of insurance of interest to the client;
3. provision of expert and consulting services for the assessment of insurance risks when concluding an insurance contract and other issues in the field of insurance;
4. collection of information of interest to the client for the conclusion of contracts;
5. preparation or execution of documents necessary for the conclusion of contracts;
6. collection of insurance premiums;
7. assistance in organizing reinsurance and co-insurance of objects accepted for insurance;
8. organization of services of adjusters, surveyors and emergency commissioners;
9. preparation and execution of documents related to insured events;
10. organization of insurance payments on behalf of the insurer.
The main difference between a broker and an insurance agent is that he acts on the insurance market as an independent intermediary between the client and the insurer, linking the needs of policyholders with the offer of services on the insurance market. According to its status, an insurance broker is a representative and defender of the interests of the insured, i.e. his consultant. Therefore, he must develop the most effective insurance protection program for the insured, offer him to take the necessary preventive measures in order to reduce the likelihood of an insured event.
The services of insurance brokers are most often resorted to when insuring industrial risks, ships, aircraft, and cargo. An insurance broker is obliged to have information about the activities of insurance companies, their financial condition, services offered and inform the client about this. Insurance brokers usually receive a commission from insurers for the conclusion of insurance contracts. A specific type of brokerage activity is the placement of risks transferred by clients - insurance organizations, to reinsurance.

Surveyors- these are experts who inspect the property accepted for insurance, who determine its value and the acceptable sum insured. Based on the opinion of the surveyor, the insurer decides:
1. about the possibility of insurance;
2. about the size of the tariff rate.
The tasks of the surveyor may also include inspection of the property after the onset of its damage.
Functions surveyors are usually performed by specialized organizations involved in risk management. They interact with insurers, policyholders on a contractual basis. Most often, surveyors are found in marine and cargo insurance. In particular, surveyors carry out an examination of ships and the degree of their seaworthiness.

In the event of insured events, in considering the circumstances of the case and determining the amount of damage, they may take emergency commissioners and adjusters. These are individuals or legal entities associated with the settlement of claims declared by the insured for compensation for damage that arose in connection with an insured event for compensation for damage under property insurance. Accident commissioners and adjusters act in accordance with the instructions received from the insurers:
1. inspect damaged or missing property;
2. establish the causes, nature and extent of damage from the insured event;
3. prepare for insurers an expert opinion on the causes and circumstances of the insured event;
4. Negotiate on behalf of the insurers with the policyholders on the amount of the insurance payment and, on behalf of the insurer and at his expense, make such payments.
The activities of adjusters and emergency commissioners can be carried out both within the framework of a structural unit of an insurance organization, and by creating a specialized organization that concludes an agreement with insurers for the provision of services for the examination and liquidation of losses.

Principles of insurance marketing organization
Insurance marketing is a system of activity of an insurance company, including the study of the state of the insurance market and the prospects for demand for insurance services, as well as the organization of work aimed, firstly, at the implementation of insurance products of the insurer and, secondly, at the development and implementation of new types of insurance operations.
The main tasks of marketing are:
1. study of demand for insurance services;
2. satisfaction of insurance interests.
Insurance marketing differs significantly from marketing in the field of commodity production due to the specifics of insurance services. The insurance marketing cycle includes 4 stages:
1. research of the insurance market;
2. development of demanded insurance services;
3. organization of advertising of insurance services;
4. distribution of insurance services.

Share of different distribution channels of insurance services

Lecture 8
General principles of state regulation in insurance
State regulation of insurance activity is the creation by the state of framework conditions for the functioning of the insurance market, within which its subjects are free to make decisions. Goals of state regulation are:
1. ensuring reliable and stable functioning of the insurance market in the country;
2. Ensuring that insurance market entities comply with legal requirements;
3. increase through insurance of social and economic stability in society;
4. ensuring the fulfillment of obligations by the parties to insurance contracts;
5. protection of the domestic insurance market from the activities of foreign companies;
6. receipt by the state of taxes and fees from the implementation of insurance activities.
State regulation methods are as follows:
1. adoption of laws and other normative acts in the field of insurance;
2. control by the authorized state bodies over the observance by the participants of the insurance market of laws and other normative acts;
3. regulation of the financial stability of insurers and ensuring that they fulfill their obligations to consumers of insurance services;
4. control over the payment of taxes and fees by subjects of the insurance market;
5. imposing sanctions on insurance market participants who do not comply with the established requirements.
The following are subject to state regulation in insurance:
1. activities of sellers of insurance services (insurers and reinsurers);
2. activities of insurance intermediaries;
3. activities of consumers of insurance services (insurants, insured persons and beneficiaries).
The state regulation of insurance activities is carried out with the help of the bodies of the State Insurance Supervision. In the Russian Federation, the functions of this body are performed by the FSSN, which is a structural subdivision of the Ministry of Finance.
FSSN:
1. issues licenses to insurers to carry out insurance activities on the territory of the Russian Federation and maintains their unified state register;
2. carries out registration of insurance brokers and maintains their register;
3. generalizes the practice of insurance activities, develops and submits proposals for the development and improvement of the legislation of the Russian Federation on insurance;
4. exercises control over the fulfillment of the requirements of laws and other legal acts related to the conduct of insurance activities;
5. develops regulatory and methodological documents on issues of insurance activities and controls their compliance;
6. receive from insurers accounting and statistical reports on insurance activities, as well as information on their financial position, review and analyze it;
7. upon detection of violations by insurers of the requirements of the law, gives them instructions to eliminate violations or limits the validity of licenses until the violations are eliminated, or makes decisions to revoke licenses;
8. drawn to court of Arbitration with claims for the liquidation of insurers, as well as for the liquidation of enterprises and organizations that carry out insurance without licenses;
9. considers applications, proposals and complaints of citizens, enterprises and institutions on insurance issues.
In addition to the insurance supervisory authority (FSSN), state control in the insurance market, within the limits of its competence, is carried out by:
1. tax authorities;
2. Central Bank of the Russian Federation (controls the conduct of insurance operations in foreign currency);
3. body for antimonopoly policy (prevention of unfair competition in the insurance market).
There are 2 stages of control over the activities of insurers - preliminary and current control. On the stage preliminary control the selection of organizations that receive the right to engage in insurance activities. The task of this stage is to prevent companies that do not meet the established criteria (licenses) from entering the insurance market. To obtain a license, you must submit the documents required by law, have the necessary financial resources and fulfill other established requirements. When implementing current control insurance supervisory authorities review and analyze accounting and statistical reports submitted by insurers. At this stage, the task is mainly to get an idea of ​​the state of affairs in insurance organizations, to monitor their compliance with the law, to assess the ability and readiness to fulfill their obligations. The focus is on the assessment financial condition insurance organizations. In particular, it controls:
1. Compliance of own funds available to insurers;
2 correct formation of insurance reserves;
3. Compliance with investment requirements.

The procedure for concluding and executing an insurance contract. Conditions of the insurance contract
Insurance contract- this is an agreement between the policyholder and the insurer, by virtue of which the insurer undertakes, in the event of an insured event, to make an insurance payment to the policyholder or beneficiary within the limits of the sum insured determined by the contract, and the policyholder undertakes to pay the sums insured stipulated by the contract in deadlines. In order to conclude a contract, the policyholder must notify the insurer of his intention in writing. The insurer may offer the policyholder to fill out a form developed by him. The policyholder is also obliged to inform the insurer of all circumstances known to him that are important for determining the likelihood of an insured event. Another obligation of the policyholder when concluding the contract is that he must inform the insurer about all other insurance contracts concluded by him in relation to this object.
The obligations of the insurer include:
1. familiarization of the policyholder with the rules of insurance;
2. acceptance of an application from the insured about the desire to conclude a contract;
3. making a decision on the possibility or impossibility of concluding an agreement.
The insurer also has the right to assess the degree of risk:
1. inspect the property subject to insurance;
2. conduct an examination of the actual state of health of the insured person.
In order for an insurance contract to be recognized as valid, it must be concluded in writing. It can be done in two ways:
1. by drawing up one document signed by two parties;
2. by way of delivery by the insurer to the insured of the insurance policy.
When concluding an insurance contract, the parties must agree among themselves on its terms.
The objects of insurance can be:
a. in personal insurance:
- a life;
- health;
- ability to work;
- pension provision of the insured or the insured person;
b. in property insurance:
- possession;
- use;
- disposal of property;
in. in liability insurance - compensation for harm caused to a person or property;
d. in business risk insurance - compensation for losses from entrepreneurial activities and for violations of counterparty obligations.
Also, in the terms of the insurance contract, the insurance value, the sum insured, the insurance risk, the insurance period, the insurance rate, the insurance premium and the insurance premium are indicated.
Insurance value when insuring property, the actual value of the insured property at the location on the date of conclusion of the insurance contract is the actual value of the insured property (the actual value is the market value).
Sum insured- This is the amount for which the insurance contract is concluded.
insurance risk- this is an expected event, in the event of which an insurance contract is concluded.
Term of insurance– the period of time during which the insurance contract is valid.
Insurance rate ( tariff rate) - This is the amount by which the size of the insurance premium is determined. Most often, the insurance rate is set as a percentage of the sum insured.
insurance premium is the insurance premium paid by the policyholder to the insurer. Its size is determined by multiplying the insurance rate by the sum insured or another risk parameter. Discounts apply:
1. for the conclusion of insurance contracts for several consecutive years;
2. for the absence of insured events under insurance contracts for a number of years;
3. for signing franchise agreements.
Insurance fee- this is a part of the insurance premium or its full amount paid by the insured within the terms established by the insurance contract. the calculated insurance premium is payable in a lump sum or in installments - in the form of insurance premiums.

Lecture 9
Relations between the parties in the event of an insured event
1. Obligations of the insured in the event of an insured event.
2. Actions of the insurer in case of an insured event.
Obligations of the insured in the event of an insured event
Upon the occurrence of an insured event under a property insurance contract, the insured or beneficiary is obliged to immediately or within the time limits and methods specified in the insurance contract notify the insurer about it. The same obligation lies with these persons in personal insurance contracts, if the insured event was the death or injury to the health of the insured person. But in such cases, the period for notifying the insurance company cannot be less than 30 days.
Another statutory obligation of the insured or the beneficiary in the event of an insured event is to take reasonable and affordable measures in the circumstances to reduce possible losses.
If the insurance contract is concluded in favor of a person other than the insured, the insurer has the right to demand from the beneficiary, upon presentation of a claim for insurance payment, the fulfillment of those obligations under the insurance contract that lay on the insured, but were not fulfilled by him.

Actions of the insurer in the event of an insured event
The insurer carries out a number of actions that have as their ultimate goal the fulfillment of its main obligation - the implementation of insurance payments. Such actions in the practice of insurance are called liquidation of the consequences of an insured event. They include a number of steps:
1. establishing the fact of an insured event;
2. calculation of the amount of damage and insurance payment;
3. making an insurance payment;
4. taking measures to return the amounts paid in connection with the insured event.
To establish the fact of an insured event, the insurer must find out the following:
- for what reason the damage was caused and whether it is included in the list of insurance risks;
- whether the insured event was caused by circumstances for the consequences of which the insurer is not liable under the contracts;
- whether an event occurred that caused damage during the period of the insurer's liability under the contract;
- whether damage has been caused specifically to property interests that are the object of this insurance contract;
- whether the event occurred in those premises or in the region that are the place of insurance.

Personal insurance
The role of personal insurance in society
When adverse events occur in the lives of citizens (illness, disability, disability, death), the state takes care of maintaining a certain standard of living for the victims or their loved ones through social insurance and security, paying appropriate benefits and pensions. However, the state cannot fully satisfy the social needs of people only at the expense of public funds due to the limited financial resources available. Therefore, state social insurance and security benefits are paid, the amount of which does not fully cover the existing needs. As the financial capacity of the state grows, these payments increase, but their value is still far from the needs of the recipients of payments. This situation creates objective conditions for organizing additional insurance protection for the population. For workers, this protection is carried out at the expense of employers and the employees' own funds. For unemployed citizens - only at the expense of their own resources.
Additional insurance protection of the population can be organized:
1. on an individual basis - in the form of deposits and deposits in banks;
2. in a collective form - through the conclusion of personal insurance contracts.
The first method is available for a sufficiently limited number of citizens who either have a sufficiently high level of income or are motivated to save. The second method can cover millions of people with average and even low incomes, thus, personal insurance acts as an addition to social insurance and security, increasing the degree of insurance protection for citizens in the event of adverse events in their lives.
Through personal insurance, the savings interests of the population can be realized. The combination of savings and risk-taking in personal insurance gives certain advantages to insurers over banks in attracting citizens' funds.
Accumulated resources are invested by insurance organizations in the development of the economy and receive large incomes from this, a significant part of which is paid to policyholders and other beneficiaries.

Classification of personal insurance
Personal insurance:
I. life insurance:
1. death insurance
2. survival insurance;
II. health insurance:
1. accident and illness insurance;
2. health insurance.

Personal insurance combines a large number of types, the objects of which are property interests related to the life and health of the insured. As an insurance industry, it is divided into 2 sub-sectors:
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