Property insurance (except for the cases provided for by paragraphs 5-9 of Article 6 of the Law of Ukraine "On Insurance") Property insurance (except for the cases provided for in paragraphs 5-9 of Article 6 of the Law of Ukraine "On Insurance") is a type of insurance where the subject of the insurance contract are property rights that do not contradict the law on ownership, use and disposal of property specified in the regulations and the insurance contract (except for rail, land, air, water (inland and other types of water transport), cargo and baggage, agricultural products). This type of insurance provides for the Insurer's obligation to pay indemnity in accordance with the insurance policy by reimbursing the Insured or another person designated by the Insured in the insurance policy (beneficiary) for the loss incurred by them in connection with damage, destruction (loss) or loss of the insured property for the fee (insurance premium, insurance payment, ...
Showing posts from February, 2023
Insurance against risks of fire and natural disasters
Insurance against the risks of fire and natural disasters Fire and natural catastrophe insurance is a type of insurance where the subject of the insurance contract are property rights that do not conflict with the law on ownership, use and disposal of property specified in the regulations and the insurance contract (except for rail, land and air transportation, water transportation (inland navigation and other types of water transportation), cargo and baggage (cargo and baggage), agricultural products). This type of insurance provides for the Insurer's obligation to pay indemnity in accordance with the terms and conditions of the Insurance Contract by reimbursing the Insured or another person (beneficiary) designated by the Insured in the Insurance Contract for the loss incurred by the Insured in connection with damage, destruction (loss) or loss of the insured property or a part thereof as a result of fire risks and/or natural disasters. The terms and conditions of voluntary ...
Cargo and Luggage Insurance Cargo and baggage insurance is a type of insurance under which the subject of the insurance contract are property interests not in conflict with the law on possession, use and disposal of cargo and baggage (cargo) transported by any means of transportation. This type of insurance provides for the Insurer's obligation to pay indemnity in accordance with the terms of the Insurance Contract by compensating the Insured or another person designated by the Insured in the Insurance Contract (the Beneficiary) for the loss incurred by them as a result of damage, destruction (loss) or loss of the insured cargo and baggage (cargo) or a part thereof during transportation by any means of transportation and, if provided for by the regulations and the Insurance Contract, during its temporary storage. The terms and conditions of voluntary insurance of cargo and baggage (cargo baggage) may provide for insurance against risks of fire and natural disasters. Marine in...
Marine Insurance (Maritime, inland and other water transportation) Insurance of water transport (inland water transport and other types of water transport) is a type of insurance where the subject of the insurance contract are property interests, not contrary to the law, related to ownership, use and disposal of water transport facilities, their machinery and equipment. This type of insurance provides for the Insurer's obligation to pay indemnity in accordance with the terms and conditions of the insurance contract (insurance premium, insurance payment, insurance premium) by compensating the Policyholder or another person designated by the Policyholder in the insurance contract (beneficiary) for the loss incurred as a result of damage, destruction or loss of the insured water transport vehicle and, if provided for in the insurance contract and the insurance terms and conditions, the following The terms and conditions of voluntary water transport insurance (marine, inland water...
Aviation Insurance Aviation insurance is a type of insurance where the subject of the contract are property rights, not contrary to law, related to ownership, use and disposal of an aircraft. Under this type of insurance, the Insurer is obliged to pay indemnification in the amount specified in the insurance policy (insurance premium, indemnification) in accordance with the terms and conditions of the insurance policy, indemnifying the policyholder or another person designated by the policyholder in the insurance policy (beneficiary) for losses incurred as a result of damage to, destruction or loss of the insured aircraft and, if provided for in the insurance policy, additional expenses. The terms and conditions of voluntary air transport insurance may provide for insurance against risks and risks of force majeure. This type of insurance does not include insurance of property, including cargo and luggage (cargo-luggage) transported by aircraft, as well as insurance of loss of inco...
Popular Posts
How do insurers decide whether to total my car?
How do insurers decide whether to total my car? A car insurance company's decision to total a car depends on the extent of the damage following an accident. Car insurance companies take into account several factors when deciding whether to total your car, including: Repair estimates List value Salvage value State laws, if applicable While each car insurance company approaches the decision differently, many insurers declare the vehicle a total loss if the estimated cost of repairs plus the salvage value equals or exceeds the car's actual cash value. The actual cash value is a car's fair market value – or, replacement cost less depreciation. Adjusters typically determine a car's actual cash value by looking to their company's proprietary database of values. Some insurers total the car if repair costs exceed a certain percentage of the car's actual cash value. Common thresholds for totaling a vehicle are 51 percent or 80 percent of the value, at...
9 Essentials for Your Car Emergency Kit
9 Essentials for Your Car Emergency Kit Build your own emergency kit from 9 things you (probably) already have at home. Overcoming tough situations on the road is equal parts preparation and action. Build this DIY car emergency kit and keep it in your vehicle so you can worry less about the unexpected and be more ready to handle it. Best of all, you might have the following items around the house already. 1. First Aid Kit: Whether it's a bandage or a packet of pain relievers, a first-aid kit is a must-have in any road emergency kit. Pro Tip: If anyone in your family has specific medication needs, add them to your car's emergency first-aid kit. 2. Food & Water: It's always good to have some non-perishable food items, such as energy bars and bottled water, just in case. 3. Gloves: Whether you just need them for warmth when stranded on the side of the road, or use them for protection when changing a tire, gloves are an important multi-use item for your car emerg...
How and why are insurance classified?
How and why are insurance classified? The classification of insurance allows to establish differences and similarities of forms and types of insurance, to reduce them to a certain number of groups and thus facilitate their study and practical use. The classification of insurance divides the whole set of insurance relationships into interdependent links (in the sphere of activity, industry, sub-sector and types) that are in each other in a certain subordination, in such a way that each subsequent link of the classification is part of the previous one. It is also important for understanding the internal structure of insurance, in developing methodological approaches to its assessment, as well as in its theoretical study. By objects of insurance Objects of insurance are the main feature of the classification of insurance: property insurance – a set of types of insurance, the object of which is the property of legal entities and individuals, for example, insurance of land transpo...
Liability insurance of car owners
Civil liability insurance for owners of land transport (including carrier's liability) Motor vehicle liability insurance (including carrier liability) is a type of insurance under which the subject of the insurance contract are property interests not inconsistent with the law on compensation for damage caused by the Insured or another person whose civil liability is insured to life, health, working capacity, property of third parties, including owners of cargo and baggage (cargo), during operation of a motor vehicle and transportation or forwarding. This type of insurance provides for the Insurer's obligation to pay indemnification in accordance with the insurance policy for the amount (premium, insurance payment, insurance premium) established by the insurance policy for damage caused to life, health, working capacity and/or property of third parties by a person whose civil liability is insured while operating the land vehicle specified in the insurance policy and performi...
5 tips for car tourists (Green Card)
5 Tips for Car Tourists (“Green Card”) To ensure that your car trip abroad goes smoothly, consider these 5 tips from MTIBU Director General Volodymyr Shevchenko on how the international system of motor third party liability insurance “Green Card” works. Tip #1. Preparation is half the battle When you plan to travel abroad by car, take care not only of preparing your own documents, but also check in advance whether you will be able to cross the border. One of the prerequisites for crossing the border for a car owner is a valid Green Card certificate. It is better to buy it at the offices of full MTIBU member insurers that have the appropriate license, rather than relying on the possibility of concluding a contract directly at the border. Today, 10 insurers have the right to conclude such contracts. Important: the Green Card policy is concluded in paper form; there is no electronic version of the policy yet. Tip #2. It is better to overpay than to get a fine There are two categori...