Insurance activities - concept and types

Insurance activities - concept and types


 

Insurance activities - concept and types
Insurance activities (insurance business) - the sphere of activity of insurers in insurance, reinsurance, mutual insurance, as well as insurance brokers, insurance actuaries to provide services relating to insurance, reinsurance.
The purpose of the organization of insurance business is to protect the property interests of individuals and legal entities, the Russian Federation, subjects of the Russian Federation and municipal entities upon the occurrence of insured events.
The objectives of the organization of insurance business are:
implementation of a unified state policy in the field of insurance;
establishing the principles of insurance and the formation of insurance mechanisms to ensure the economic security of citizens and economic entities on the territory of the Russian Federation.
Objects of insurance
1. The objects of personal insurance may be property interests related to:
survival of citizens to a certain age or period, with death, with the onset of certain events in the life of citizens (life insurance);
causing harm to the life or health of citizens, providing them with health care (insurance against accidents and illnesses, health insurance);
2. The objects of property insurance may be property interests related in particular to:
possession, use and disposal of property (property insurance);
obligation to compensate the damage caused to others (liability insurance);
business activities (insurance business risks);
3. insurance of illegal interests, and the interests that are not illegal, but insurance is prohibited by law, is not allowed;
4. If the federal law does not specify otherwise, the insurance object may be related to different types of property insurance and (or) personal insurance (comprehensive insurance);

Compulsory insurance, in turn, is divided into insurance by policyholders:
insurance of buildings;
farm animals;
personal insurance of passengers by air, rail, sea, inland waterway and road transport;
Obligatory state personal and property insurance.
Voluntary types of insurance are mainly due to the nature of market relations.
Group life insurance on special conditions when contracts are concluded with enterprises and organizations on life insurance of their employees.
Insurance of citizens - is to protect the health and profitable accumulation of money. The contracts for this type of insurance can be citizens aged 16 to 77 years (except invalids of group 1) 3-year, 5, 10, 15 and 20 years old, but not older than 80 years of age at the end of the contract. The contract can be in favor of a third party (the parents for the benefit of children, their spouses, and so on. N., Businesses in favor of their employees).
Insurance for children to adulthood carried out under contracts of insurance of children, regardless of age and health. These contracts may be concluded the parents (adoptive parents) or guardians and other relatives of the child. The child's age should not exceed 15 years and the term of the insurance is defined as the difference between 18 years and the age of the child. Insurance premiums can be paid lump sum or monthly.
Home contents insurance in modern conditions is becoming increasingly important.
Vehicle insurance