Types of compulsory insurance In Ukraine, the following types of compulsory insurance are carried out: health insurance; personal insurance of medical and pharmaceutical employees (except for those working in institutions and organizations financed from the State Budget of Ukraine) in case of infection with the human immunodeficiency virus during the performance of their official duties; personal insurance of departmental employees (except for those working in institutions and organizations financed from the State Budget of Ukraine) and rural fire brigades and members of voluntary fire brigades (teams); insurance of sportsmen of higher categories; life and health insurance of specialists in veterinary medicine; personal insurance against accidents in transport; aviation insurance of civil aviation; liability insurance of the maritime carrier and the performer of work related to the servicing of maritime transport, in respect of compensation for losses incurr...
Showing posts with the label compulsory insurance
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...
Insurance forms. What are these and what are they?
Insurance forms In insurance, two forms of realization of insurance relations are known: compulsory and voluntary. The criterion for such a division is the will of the parties. The will of the state through a special law stipulates the obligatory form of insurance, and the will of the policyholders through an application for insurance – voluntary. Consider these two forms in more detail. The initiator of compulsory insurance is the state. The state establishes a mandatory form of insurance, as a rule, in cases where: insurance protection of certain subjects is connected with the interests of not only individual policyholders, but also society as a whole; a certain group of risks is not accepted by insurers for insurance within its voluntary form due to the unprofitability of their insurance; the cost of voluntary insurance is too high for the policyholder; the policyholder underestimates the degree of danger and possible consequences of the insured event, and the publi...
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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...
Agricultural insurance Agricultural insurance (Insurance of agricultural products) is a type of insurance where the subject of the insurance contract are property rights, not contradicting the law, related to compensation of losses incurred by the Insured or another person designated by the Insured in the insurance contract while growing, harvesting agricultural crops and perennial plantations, growing (breeding), fattening (keeping) farm animals, poultry, rabbits, bee colonies and fur-bearing animals, growing, breeding, catching (harvesting) fish and other aquatic living resources, and other livestock 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 designated by the Insured in the Insurance Contract (the Beneficiary) for the loss incurred by the Insured in connection with the damage - death (loss) of crops (plantations), dea...
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...
Travel Insurance Tips Travel insurance can minimize the considerable financial risks of traveling: accidents, illness, missed flights, canceled tours, lost baggage, theft, terrorism, travel-company bankruptcies, emergency evacuation, and getting your body home if you die. Each traveler’s potential loss varies, depending on how much of your trip is prepaid, the refund ability of the air ticket you purchased, your state of health, the value of your luggage, where you’re traveling, the financial health of your tour company and airline, and what coverage you already have (through your medical insurance, homeowners or renters insurance, and/or credit card). Do I Need Travel Insurance? When considering an insurance plan, it’s good to know what it does and doesn’t cover. For some travelers, insurance is a good deal; for others, it’s not. What are the chances you’ll need it? How willing are you to take risks? How much is peace of mind worth to you? Take these considerations into account, ...
5 things worse for your car insurance than an accident
5 things worse for your car insurance than an accident It turns out that there are other driving infractions and changes to your insurance coverage that will crank up your auto rates even more than an accident. While a DUI is an obvious one, who would have thought that a lousy credit rating, adding a teen driver or even speeding tickets can result in a bigger bump than an accident? What raises your auto insurance rates more than an accident? We looked at 43 driving situations encompassing common tickets, accidents and scenarios to see which ones result in a higher rate increase than an accident. An accident claim means you will typically pay around 32%, or $459, more a year for insurance. How much adding a teen driver raises your insurance Adding a teen to your policy will hike your rates more than an accident. According to our data, putting a 16-year old male on your policy will result in a 160% increase, which translates into $2,292 on average. If your new driver is female, th...