Showing posts from March, 2023

Insurance of issued guarantees (sureties) and accepted guarantees

Insurance of issued guarantees (sureties) and accepted guarantees Insurance of issued and accepted guarantees (sureties) is a type of insurance where the subject of the insurance contract are property interests that are not contrary to the law and are related to losses Losses incurred by the creditor as a result of non-fulfillment (improper fulfillment) of obligations by the guarantor (surety) in the amount and within the terms specified in the guarantee (surety agreement); Losses incurred by the guarantor (surety) as a result of non-performance (improper performance) by the debtor of its obligations to the creditor to the extent and within the terms specified in the agreement. 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 (insurance premium, insurance payment, insurance premium) established by the insurance contract by indemnifying the Insured, if the Insured

Legal expenses insurance

Legal expenses insurance Legal expenses insurance is a type of insurance where the subject of the insurance contract are property interests that do not conflict with the law and are related to losses incurred by the insured or another person designated by the insured in the insurance contract (beneficiary), legal expenses. This type of insurance provides for the Insurer's obligation to pay indemnification in accordance with the terms of the Insurance Contract, indemnifying the Insured or another person designated by the Insured in the Insurance Contract (the Beneficiary) for the loss incurred by them in connection with unforeseen legal expenses against payment of the fee (insurance premium, insurance payment, insurance premium) established by the Insurance Contract. Financial risk insurance Financial risk insurance is a type of insurance where the subject of the insurance contract are property interests, not in conflict with the law, related to financial (material) losses as

Financial risk insurance

Financial Risk Insurance Financial risk insurance is a type of insurance where the subject of the insurance contract are property interests, not in conflict with the law, related to financial (material) losses as a result of breach of contractual obligations to the insured or events stipulated in the insurance contract. This type of insurance provides for the insurer's obligation to pay indemnity in accordance with the terms of the insurance contract by reimbursing the insured or another person designated by the insured in the insurance contract (beneficiary) for losses incurred as a result of business interruption, breach of contractual obligations (non-performance or improper performance by the counterparty of contractual obligations to the insured) or other events stipulated in the insurance contract. The terms and conditions of voluntary financial risk insurance may provide for insurance against damage to the insured or another person specified in the insurance policy (ben

Investment insurance

Investment Insurance Investment insurance is a type of insurance where the subject of the insurance contract are property interests, not in conflict with the law, related to investment activities of the insured or another person designated by the insured in the insurance contract. This type of insurance provides for the insurer's obligation to pay indemnification in accordance with the insurance policy by compensating the insured or another person designated by the insured in the insurance policy (the beneficiary) for the loss incurred in the course of investment activities as a result of the loss of investments or a part thereof, failure to receive investment income for reasons specified in the regulations and the insurance policy. Loan Insurance (Liability for Loan Default) Loan insurance (including borrower's liability for loan default) is a type of insurance where the subject of the insurance contract are property interests that do not contradict the law and are rela

Loan insurance (including the borrower's liability for loan default) Loan insurance (including borrower's liability for loan default) is a type of insurance where the subject of the insurance contract are property interests that do not contradict the law and are related to Losses incurred by the Insured (Lender) as a result of non-repayment or incomplete repayment of the loan and/or interest accrued thereon by the Borrower Liability of the Insured (Borrower) to the Lender for non-payment or incomplete repayment of the Loan and/or interest accrued thereon in accordance with the Loan Agreement. 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 compensating the Lender or another person designated by the Insured in the Insurance Contract (Beneficiary) for the losses incurred by them as a result of the Borrower's failure to repay or incomplete repayment of the Loan Am

Liability Insurance

Liability insurance Civil liability insurance (other than that provided for in paragraphs 12-14 of Article 6 of the Law of Ukraine "On Insurance") is a type of insurance other than civil liability insurance of owners of land, air and water transport (including carrier's liability), where the subject of the insurance contract are property interests that do not contradict the law on compensation for damage caused by the insured or another person whose civil liability is insured to life, health, ability to work or property of third parties. This type of insurance provides for the Insurer's obligation to pay indemnification in accordance with the terms of the insurance policy for damage caused to the life, health, working capacity and/or property of a third party by the person whose civil liability is insured as a result of his/her activities as specified in the insurance regulations and the insurance policy. Watercraft Owners' Liability Insurance (including Carr

Watercraft Owners' Liability Insurance (including Carrier's Liability) Watercraft Owners' Liability Insurance (including Carrier's Liability) is a type of insurance under which the subject of the insurance contract are property interests that do not contradict the law on compensation of 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 watercraft and transportation or forwarding. This type of insurance provides for the Insurer's obligation to pay indemnity in accordance with the terms of the Insurance Contract for the payment (insurance premium, insurance payment, insurance premium) established by the Insurance Contract for damage caused to the life, health, working capacity and/or property of a third party by a person whose civil liability is insured as a result of a maritime event (accident) during the

Aircraft Owner's Liability Insurance

Air owner's liability insurance (including carrier's liability) Aircraft Owner's Liability Insurance (including Carrier's Liability) is a type of insurance under which the subject of the insurance contract are property interests not inconsistent with the law relating to 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 an aircraft and transportation or forwarding of cargo. This type of insurance provides for the Insurer's obligation to pay the insurance indemnity in accordance with the insurance policy for the payment (insurance premium, insurance payment, insurance premium) established by the insurance policy for the damage caused to life, health, working capacity and/or property of third parties by the person whose civil liability is insured as a result of an aviation event (aviation acc

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