Land transport insurance (except railway) Land transport insurance (except railway) - a type of insurance, according to which the subject of the insurance contract is property interests that do not contradict the law, related to the ownership, use and disposal of a land vehicle, including its trailer, and all types of vehicles special purpose. This type of insurance provides for the insurer's obligation to pay the insurance indemnity in accordance with the terms of the insurance contract for the fee established by the insurance contract (insurance premium, insurance payment, insurance premium) by indemnifying the insured or another person specified by the insured in the insurance contract (beneficiary) for loss, incurred by them in connection with damage, destruction or loss of the insured ground vehicle, including its trailer, and all types of special purpose vehicles, as well as, if provided for by the rules and the insurance contract, additional equipment to them. The condi...
Showing posts from November, 2022
Railway transport insurance Insurance of railway transport - a type of insurance, according to which the subject of the insurance contract is property interests, which do not contradict the law, related to the ownership, use and disposal of a railway vehicle (rolling stock). This type of insurance provides for the insurer's obligation to pay the insurance indemnity in accordance with the terms of the insurance contract for the fee established by the insurance contract (insurance premium, insurance payment, insurance premium) by indemnifying the insured or another person specified by the insured in the insurance contract (beneficiary) for loss, incurred by them in connection with damage, destruction or loss of the insured railway vehicle (individual units of rolling stock) and, if provided for by the rules and the insurance contract, additional equipment to it. The conditions of voluntary insurance of railway transport may provide for insurance against fire risks and risks of n...
Health insurance in case of illness
Health insurance in case of illness Health insurance in case of illness - a type of insurance under which the subject of the insurance contract is property interests that do not contradict the law, related to the life, health and working capacity of the insured or a third person (insured person) specified by the insured in the insurance contract with her consent. This type of insurance provides for the obligation of the insurer for the payment established by the insurance contract (insurance contribution, insurance payment, insurance premium) to make an insurance payment in accordance with the terms of the insurance contract in the amount of the insured sum or its part in the event of the death of the insured or the insured person, temporary loss by him ( her) of working capacity, establishment of his (her) disability as a result of an illness or in the case of his (her) illness, stipulated by the insurance contract, which happened to the insured or the insured person during the va...
Medical Insurance Medical insurance (continuous health insurance) - a type of insurance under which the subject of the insurance contract is property interests, which do not contradict the law, related to the health and working capacity of the insured or a third person (insured person) specified by the insured in the insurance contract with her consent. This type of insurance provides for the insurer's obligation to make an insurance payment in accordance with the terms of the insurance contract in the amount of the insured sum or its part for the fee established by the insurance contract (insurance contribution, insurance payment, insurance premium) by: payment of the cost of health care of a certain list and quality in the amount of the health insurance program chosen by the policyholder, which was provided to the policyholder or the insured person by the health care institutions to which he (she) applied during the validity of the contract, in connection with the disease, ...
Accident insurance Accident insurance - a type of insurance under which the subject of the insurance contract is property interests that do not contradict the law, related to the life, health and working capacity of the insured or a third person (insured person), specified by the insured in the insurance contract with his consent . This type of insurance provides for the obligation of the insurer for the payment established by the insurance contract (insurance contribution, insurance payment, insurance premium) to make an insurance payment in accordance with the terms of the insurance contract in the amount of the insured sum or its part in the event of the death of the insured or the insured person, temporary loss by him ( her) of working capacity, establishment of his (her) disability or his/her receiving of traumatic injuries and/or functional health disorders provided for by the insurance contract as a result of an accident that happened to the insured or the insured person dur...
Life insurance Life insurance is a type of insurance under which the subject of the insurance contract is property interests, which do not contradict the law, related to the life, health, working capacity and pension provision of the insured person. This type of insurance provides for the insurer's obligation to make an insurance payment in accordance with the insurance contract in the amount of the insured sum, its part and/or in the form of regular consecutive payments of the sums specified in the insurance contract for the fee established by the insurance contract (insurance premium, insurance payment, insurance premium) (annuity) in the event of the death of the insured person, as well as, if provided for by the insurance contract, in the event of the insured person's survival before the expiration of the insurance contract and/or the insured person reaching the age specified in the contract. In the event that upon the occurrence of an insured event, regular consecutive...
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New technologies in life insurance
New technologies in life insurance The insurance market is becoming increasingly digital. More and more insurance products are being sold online, remote claims settlement services are being developed, and new insurance products are being offered. Against this backdrop, the life insurance segment stands out somewhat, driven by savings and investment insurance products. Obviously, these are not the types of insurance that can be successfully marketed remotely through online channels due to individual customer requirements and the need for professional advice from the insurer. However, innovative technologies in the insurance sector - InsurTech - make it possible to implement various solutions in this segment that allow the company and its agents to promote "life" more effectively and make this service more understandable, convenient and personalized for customers. First of all, digitization makes it possible to simplify communication with the customer during the life of the...
How much are overpaying for policies?
Generosity of insurers: how much do people overpay for policies? Services for the sale of policies to insurers themselves cost 241.4 billion rubles in the first nine months of 2019. Banks earned more than others, whose commissions reached 150.5 billion rubles - the same amount as for the whole of 2018. And they were ultimately paid by insurance buyers. Consumers have a choice: they can buy a policy in the office of the insurer, on its website, from an agent or from a bank. The only difference is the price, which is made up of the basic cost of the policy and the commission of the agent selling it. It is higher with banks. For example, an accident policy with a payout in case of death of the insured of 750 thousand rubles can be bought from the insurer for 3.9 thousand rubles, while in the bank it will cost 4.9 thousand rubles. Nevertheless, Russians often buy insurance in banks. First, because banks are trusted by 88% of the population, while insurance companies are trusted by only...
Car insurance for young drivers - the key facts
Car insurance for young drivers – the key facts Young drivers’ car insurance is likely to be very expensive and as a new driver it’s good to know about different coverage levels and what affects how much you pay. Here you can find out everything you need to know about new driver car insurance, how to get the best deal and reduce your premiums. Young driver insurance tips So you’ve passed your test, you’ve chosen a car, and now all you need is insurance! If you’re driving without car insurance then you’re breaking the law. You could have your vehicle confiscated, be issued a penalty fine, and have to pay to have your car released. What’s more, if you’re uninsured and have an accident, you’ll be liable for the cost of everyone else’s injuries, their damages, compensation and repairs, even if the accident wasn’t your fault. You will lose your licence and may lose your job because of this. So whilst your car insurance may seem expensive to begin with, it’s nothing com...
Complaints of car owners against insurers and what MTIBU does
Why car owners complain about insurers and what MTIBU does How well do MTPL insurers fulfill their obligations, to whom can you complain about them, and will these complaints make a difference? These are the questions that car owners face when choosing an insurer and in case of problems with payments. Volodymyr Shevchenko, Director General of MTIBU, helped us to understand these topics. How to assess the quality of work and reliability of the insurer The MTIBU website publishes a quarterly traffic light graphic. Using a simple color display, it shows an integrated assessment of each insurer based on three main indicators: "overall performance assessment", "quality of settlement", and "level of complaints". The MTIBU also prepares detailed information on the performance of each MTPL insurer on a quarterly basis (number of contracts, amount of premiums, number and amount of claims, average payment period, number and level of complaints, etc.) This data...