Signs of the economic nature of insurance

 

Insurance - a way of compensation for damages suffered by a natural or legal person, by means of their distribution among many individuals. Objective need for insurance is caused by the fact that the losses often occur as a result of destructive factors generally beyond the control of the person (forces of nature), in any case, do not involve anyone's civil liability.
Negative manifestations of spontaneous nature of the forces of nature and society related to material losses, to a first approximation are perceived by people as a random event, but their periodic offensive proves that they are objective, logical character associated with the contradictions of economic relations and problems of man-made.
As an economic category of insurance is a system of economic relations, including a set of forms and methods of formation of the trust funds of funds and their use for damages under various unforeseen adverse events (risks) as well as to help citizens when certain events in their lives.
Economic category of insurance is characterized by the following features:
- The presence of redistributive relations;
- Availability of insurance risk (and its evaluation criterion);
- Formation of the insurance community of policyholders and insurers;
- A combination of individual and group insurance interests;
- Joint and several liability of the insured for the damage;
- Closed layout of damage;
- Redistribution of the damage in time and space;
- Repayment of insurance payments;
- Self-sufficiency of the insurance activities.