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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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...
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, ...
Insurers and fraudsters - the confrontation continues
Insurers and fraudsters - the confrontation continues, the formats are changing How are strategies and tactics in the fight against insurance fraud changing? What threats and dangers await insurers and the insurance market in the "digital future"? These and other questions will be answered by Igor Fatyanov, Chairman of the Insurance Fraud Control Committee of the All-Union Insurance Association. How will insurance fraud and abuse of rights in automobile insurance change in connection with the development of information technology? Does digitalization work to the advantage of insurers or fraudsters? Are there examples of "high-tech" fraud that have been detected or prevented? Of course, fraudsters are mastering the digital space. The most common cases (which are now more or less dealt with) are fake websites issuing fake CMTPL policies and the use of Internet sales for fraud. I don't take cyber-risks yet, because they are not so often realized in Russia. On t...
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...
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...