risk in insurance. Types of insurance risks. Classification of risks based on the possibility of being insured

20.02.2022

The concept of "risk" means the danger of an unfavorable outcome of a certain expected phenomenon. In the insurance system, risks are events, the occurrence of which is indefinite in time and does not depend on the will of the insured.

Risk insurance in Russia and their types

All types of risks subject to insurance can be assessed in terms of the amount of possible damage and the likelihood of an unfavorable outcome. Those of the risks that cannot be assessed are called non-insurance, and, accordingly, are not subject to.

Types of risks in insurance

Depending on the source of danger, natural and man-made types of risks in insurance are distinguished.

Man-made risks insurance in Russia is represented by types of insurance that protect against risks associated with targeted human impact (theft, fire, etc.).

Natural types of risks in insurance- uncontrollable risks that are associated with the manifestation of the elemental forces of nature (storms, tornadoes, etc.).

Taking into account the scope of responsibility of the insurance organization, individual and universal risks are distinguished in the insurance system. Thus, when insuring valuable architectural objects against acts of vandalism, a specific individual risk is expressed in the contract. But theft is a universal type of risk, the insurance of which is provided for in almost all property insurance contracts.

According to insurance objects, property and personal risk insurance in Russia. In world practice, taking into account the objects of insurance, risks are divided into three groups:

property risks
the risk of damage to the health of citizens and the risk of their death
risks of liability for harm caused to health, life or property of third parties.

In addition, there are pure and speculative risks in the insurance system. The first type of risk in insurance implies the possibility of incurring losses, the second - to receive less possible future income.

Property risk insurance system

When the completeness of compensation for damage depends on the system of insurance liability applied by the insurer.

There are 5 main risk insurance systems in Russia and in the world: insurance for actual, reinstatement, proportional or marginal liability, as well as the first risk system.

First risk insurance system implies that the amount of compensation is equal to the price of the property specified in the contract. When using the second system, the beneficiary will receive compensation sufficient to purchase new property of the appropriate type.

However, risk insurance in Russia, as a rule, is carried out according to the last three systems.

Insurance under the system of the first risk obliges the insurer to cover the damage within the sum insured, the maximum amount of which is stipulated in the contract.

The risk insurance system with proportional liability provides that part of the risk (the percentage that will be calculated from the amount of damage) is assumed by the insured.

According to the system of ultimate liability, risks in Russia associated with lost income are subject to insurance. In this case, the insurer compensates the beneficiary for the difference between the planned and actual profit.

Risk can be managed, i.e. use various measures that allow, to a certain extent, to predict the onset of a risk event and take a risk reduction. The effectiveness of the organization of risk management is largely determined by the classification of risk.

There are the following types of risks:

1. Pure and speculative;
2. Risks that can be insured;
3. Risks that cannot be insured (non-insurable);
4. Favorable and unfavorable risks.

Depending on the possible economic result of their manifestation, the risks are divided into two main groups - pure and speculative. Net risks determine the possibility of obtaining a negative or zero economic result (risks of natural phenomena, natural man-made, environmental).

Speculative risks make it possible to obtain all three economic results - negative, zero and positive (financial risks as part of the risks of commercial activity).

Based on the possibility of being insured, risks are divided into insured and non-insurable. Non-insurable risks cannot be insured and therefore are not included in the insurance contract. The largest group consists of risks that can be insured. The list of insurance risks is the amount of insurance liability under the insurance contract, which is expressed using the insurance amount of the contract.

Depending on the source of danger, there are risks associated with the manifestation of the elemental forces of nature and the purposeful impact of a person in the process of appropriating material goods. The risks associated with the manifestation of natural forces include earthquakes, floods, mudflows, tsunamis, etc.

Risks such as theft, robbery, acts of vandalism and other illegal actions are associated with the purposeful impact of a person.

According to the scope of the insurer's liability, risks are divided into individual and universal. For example, an individual risk is expressed in an insurance contract for a masterpiece of painting during transportation and exposure in case of acts of vandalism in relation to it. The universal risk, which is included in the scope of the insurer's liability under most property insurance contracts, is theft.

A special group consists of specific risks: anomalous, catastrophic, large.

Anomalous risks include risks, the size of which does not allow attributing the relevant objects to certain groups of the insurance population.

Abnormal risks are higher and lower than normal. Below normal risk is favorable to the insurer and is covered under the normal terms and conditions of the insurance contract. Higher than normal risk is not always favorable for the insurer and is covered under the special conditions of the insurance contract.

Catastrophic risks make up a significant group that covers a large number of insured objects or insurers, and at the same time are capable of causing damage on an especially large scale. These are the risks associated with the manifestation of the elemental forces of nature, as well as with the transformative human activity in the process of creating wealth (for example, an accident at a nuclear power plant).

Large risks are single risks that cause significant damage, the volume of which the insurers cannot cover on their own, since compensation within the same risk portfolio is financially impossible. In this case, there is a need to enter the level of the world market.

Of exceptional importance in the work of the insurer is the definition of objective and subjective risks. Objective risks express the harmful effects of uncontrolled forces of nature and other accidents on the objects of insurance. Subjective risks are based on the denial or ignorance of an objective approach to reality, and depend on the will and consciousness of a person.

Environmental risks are associated with environmental pollution and are due to the transformative human activity in the process of creating wealth.

Environmental risks are usually not included in the scope of the insurer's liability.

At the same time, certain insurance interests due to environmental risks have led to the creation of an independent type of insurance that meets these interests.

Transport risks are divided into hull and cargo risks. Casco transport risks include insurance of aircraft, sea and river vessels, railway rolling stock and cars during movement, parking (downtime) and repair. Cargo transport risks imply insurance of goods transported by air, sea, river, rail and road.

Political (repressive) risks are associated with illegal actions from the point of view of international law, with activities or actions of the government of foreign states in relation to this sovereign state. The political risks that affect the activities of the enterprise include:

o the impossibility of carrying out economic activities due to military operations, revolution, aggravation of the internal political situation in the country, nationalization, confiscation of goods and enterprises, the introduction of an embargo due to the refusal of the new government to fulfill the obligations assumed by its predecessors, etc.;
o the introduction of a deferment (moratorium) on external payments for a certain period due to the onset of emergency circumstances (strike, war, etc.);
o adverse change in tax liability;
o prohibition or limitation of converting the national currency into the payment currency. In this case, the obligation to exporters can be fulfilled in the national currency, which has a limited scope.

Technical risks manifest themselves in the form of accidents due to the sudden failure of machinery and equipment or a failure in production technology. The problem of technical risk insurance is to determine the frequency of accidents and how to assess the damage from them.

Technical risks are universal in nature, i.e. protect the object from a variety of causes of damage. The reasons may be errors in management, installation, violations of technology, negligence in work, etc., which lead to premature failures, failure of machinery and equipment. Thus, technical risks can cause damage to property, life and health of people, financial interests of the enterprise due to interruption in production and excess costs.

On the other hand, technical risks are divided according to the specific composition of fixed and working capital, in relation to which they appear:

machinery and equipment - industrial risk;

buildings, structures, transmission devices - construction (construction and installation) risks;

devices, computers, means of communication - electrical risks;

vehicles - transport risks (casco, cargo, liability);

agriculture - risks of diseases of animals and plants, loss of livestock, damage to crops, etc.

Civil liability risks are associated with legal claims of individuals and legal entities in connection with harm caused, for example, by a source of increased danger (road, rail, air and sea transport, a number of chemical industries). An individual or legal entity possessing such a source of increased danger can insure their civil liability to third parties, i.e. shift the obligation to compensate for property damage by third parties to the insurer.

Commercial risks represent the risk of losses in the process of financial and economic activity. They mean the uncertainty of the results from this commercial transaction.

On a structural basis, commercial risks are divided into property, production, trade, financial.

Property risks are risks associated with the probability of loss of the entrepreneur's property due to theft, sabotage, negligence, overvoltage of technical or technological systems, etc.

Production risks are risks associated with a loss from stopping production due to the impact of various factors and, above all, with the loss or damage of fixed and working capital (equipment, raw materials, transport, etc.), as well as risks associated with the introduction into production new equipment and technology.

Trading risks are the risks associated with loss due to delays in payments, refusal to pay during the period of transportation of goods, non-delivery of goods, etc.

Financial risks are associated with the probability of loss of financial resources. Financial risks are divided into two types: those associated with the purchasing power of money (inflationary, deflationary, currency risks, liquidity risks) and with capital investment (investment risks).

Inflationary risk is the risk that, as inflation rises, cash incomes depreciate in terms of real purchasing power faster than they rise. In such conditions, the entrepreneur bears real losses.

Deflationary risk is the risk that as deflation increases, prices will fall, economic conditions for business will worsen, and incomes will decline.

Currency risks represent the danger of currency losses associated with a change in the exchange rate of one foreign currency against another, when conducting foreign economic credit and other foreign exchange transactions.

Liquidity risks are risks associated with the possibility of losses in the sale of securities or other goods due to changes in the assessment of their quality and consumer value.

Investment risks include the following subspecies: lost profits;

decrease in profitability; direct financial losses.

The risk of lost profits is the risk of indirect (collateral) financial damage (lost profit) as a result of failure to implement any activity.

The risk of a decrease in profitability may arise as a result of a decrease in the amount of interest and dividends on portfolio investments, on deposits and loans.

Risks of direct financial losses include the following varieties:

exchange risks represent the danger of losses from exchange transactions (the risk of non-payment for commercial transactions, the risk of non-payment of commission fees of a brokerage firm, etc.);

selective risks are the risks of incorrect choice of capital investment, type of securities for investment in comparison with other types of securities when forming an investment portfolio;

the risk of bankruptcy is the danger of the complete loss of the entrepreneur's own capital and his inability to pay for the obligations assumed as a result of the wrong choice of capital investment.

Risk insurance is a relationship to protect the property interests of individuals and legal entities in the event of certain events (insured events) at the expense of monetary funds formed from the insurance premiums (insurance premiums) paid by them. It should be noted that this method of minimization risk in the activities of the enterprise has a number of limitations:

first of all, it is too high a price (sometimes a premium) requested by the insurer for taking on the risk. Often it exceeds the price that the principal insurer considers reasonable for the transfer of this risk;
in the second - limited availability of insurance - some risks are not accepted for insurance. So, if the probability of a risk event is very high, insurance organizations either do not undertake to insure this type of risk, or charge prohibitively high payments.

Price and availability risk insurance are directly related to each other, since the insured assumes the risk, the losses from which he can estimate.

In Russia, it is widely believed that everything and everything can be insured. In fact, this is not at all the case. There are risks that are insured, and there are risks that cannot be insured in principle. So, it is impossible to insure an enterprise against the fact that it will not receive excess profits, but it is possible to insure possible losses from unforeseen interruptions in production.

The insured type of risk is typical for such emergency situations when there is a statistical regularity of their occurrence, that is, the probability of loss is determined. It should be noted that with the help of insurance it is possible to minimize almost all property, as well as many credit, commercial and production risks. At the same time, as a rule, the risks associated with the partners' dishonesty, such as delayed payments, non-payment for products, etc., are not subject to insurance.

The Civil Code of the Russian Federation distinguishes two branches of insurance: personal insurance (life and health insurance) and property insurance. In turn, property insurance is divided into three sub-sectors, that is, under a property insurance contract, the following property interests can be insured:

risk of loss (destruction), shortage or damage to certain property;
the risk of liability for obligations arising from causing harm to life, health or property of other persons, and in cases provided for by law, also liability under contracts - the risk of civil liability;
the risk of losses from entrepreneurial activities due to a breach of their obligations by counterparties of the enterprise or changes in the conditions of this activity due to circumstances beyond the control of the enterprise, including the risk of not receiving expected income - entrepreneurial risk.

It should be noted that the Classification by types of insurance activity establishes that a property insurance contract can be concluded in relation to:

means of water transport;
means of air transport;
means of ground transport;
cargo;
property other than listed above;
financial risks associated with compensation for loss of income (additional expenses) caused by a stoppage of production as a result of an insured event, bankruptcy of counterparties or failure to fulfill their obligations under contracts and other reasons.

The insurance company is not entitled to conclude insurance contracts for types of property (property interests) that are not included in this list.

Property insurance includes financial risk insurance (such insurance is also called business interruption risk insurance, or business interruption insurance). Often insurance against loss of profit is included in the property insurance policy: under such an insurance contract, the insurer indemnifies not only the damage caused to the insured property, but also the profit not received due to the stoppage of production due to an accident. But financial risks can be insured under a separate policy, regardless of property insurance.

The list of events that can cause financial damage to the enterprise, against the risk of which you can insure, is quite large, but the following events are considered a priority:

stoppage of production or reduction of production as a result of specified events;
bankruptcy;
Unexpected expenses;
non-performance (improper performance) of contractual obligations by the counterparty of the insured person who is the creditor under the transaction;
court costs incurred by the insured person.

The next type of insurance is liability insurance. The Civil Code of the Russian Federation includes liability insurance in the property insurance industry. In accordance with Art. 929 of the Civil Code can be insured: the risk of liability for obligations arising from damage to life, health or property of other persons, and in cases provided for by law, also liability under contracts - the risk of civil liability.

Deciding to apply to an insurance company, the head of the enterprise should keep in mind that the best type of insurance is not one insurance contract "from everything", but a comprehensive system for protecting the organization.

This system depends on the specifics of the work and specialization of the enterprise, but in general terms it should look like this:

firstly, insurance of property and property values, that is, buildings, structures, equipment, finished products in warehouses, etc., against all possible accidents provided for by the insurance contract;
secondly, insurance of cargo flows, that is, all cargo that the company receives and sends;
thirdly, liability insurance, which includes general civil liability (the risk of environmental pollution) and the employer's liability to employees (the risk of injury to the employee in the event of an accident at work);
fourthly, personnel insurance, that is, the company's life insurance of employees, insurance in case of temporary disability or disability.

When choosing an insurance strategy for his enterprise, the manager must first find out what risks are available for insurance. Then, with a representative of the insurance company, discuss the rates of insurance premiums, then, based on the available funds, the company's specialization and other internal factors, determine which risks to insure and which not. If the enterprise does not have enough funds for comprehensive insurance protection, it is necessary to identify the risks, the occurrence of which will entail large losses for it, and insure them.

Determining the strategy in relation to insurance risks, the head of the enterprise must be well versed in the insurance market, choosing the most suitable insurance conditions for a particular transaction, which are stipulated in the insurance contract.

The insurance contract is an agreement between the policyholder and the insurer, by virtue of which the insurer undertakes, upon the occurrence of an insured event, to make an insurance payment to the policyholder or another person in whose favor the insurance contract is concluded, and the policyholder undertakes to pay insurance premiums within the established time limits. The insurance contract may also contain other conditions determined by agreement of the parties, and must comply with the general conditions for transactions by the civil legislation of the Russian Federation.

To conclude an insurance contract, an enterprise submits a written application to the insurance company in the prescribed form. The contract comes into force from the moment of payment of the first insurance premium. The fact of concluding an insurance contract is certified by the insurance certificate transferred by the insurer to the insured. As a rule, this is an insurance policy or an insurance certificate.

The insurance certificate shall indicate: the name of the document; name, legal address, bank details of the insurance company; the name of the policyholder and his address; object of insurance; the amount of the sum insured; insurance risk; the amount of the insurance premium, the terms and procedure for its payment; contract time; the procedure for terminating and amending the contract; other conditions as agreed by the parties, including additions to the insurance rules or exclusions from them; signatures of the parties.

The insurer is obliged:

In the event that the insured takes measures that have reduced the risk of an insured event and the amount of possible damage to the insured property, or in the event of an increase in its actual value, renew the insurance contract at the request of the insured, taking into account these circumstances.
In the event of an insured event, make an insurance payment within the period established by the contract. In the event that the insurance payment is not made within the established period, the insurer shall pay the policyholder a fine in the amount of one percent of the amount of the insurance payment for each day of delay.
Compensate for the expenses incurred by the insured in the event of an insured event to prevent or reduce damage to the insured property, if the compensation is provided for by the insurance rules. In this case, the specified expenses in the part exceeding the amount of the damage caused are not subject to compensation.
Do not disclose information about the insured and his property status.

On the other hand, the insured must:

Pay insurance premiums on time.
When concluding an insurance contract, inform the insurer of all circumstances known to him that are relevant for the assessment of the insured risk, as well as all insurance contracts concluded or being concluded in relation to this insurance object.
Take the necessary measures to prevent and reduce damage to the insured property in the event of an insured event and notify the insurance company of the occurrence of an insured event within the time limits established by the insurance contract.

In addition to those listed, the insurance contract may provide for other obligations of both the insurer and the insured.

Upon the occurrence of an insured event, the insurance payment is made by the insurer in accordance with the insurance contract on the basis of the application of the insured and the insurance act (emergency certificate). The insurance act is drawn up by the insurer or a person authorized by him, if necessary, the insurer requests information related to the insured event from law enforcement agencies, banks and other enterprises, institutions, organizations that have information about the circumstances of the insured event, and also has the right to independently determine the causes and circumstances of the occurrence of the insured event. case.

An insurance organization has the right not to make insurance payments in the following cases:

in case of intentional actions of the insured, aimed at the occurrence of an insured event;
when the policyholder or the person in whose favor the insurance contract is concluded commits an intentional crime that is in direct causal connection with the insured event;
when the policyholder informs the insurer of knowingly false information about the objects of insurance;
upon receipt by the insured of the appropriate compensation for damage under property insurance from the person guilty of causing this damage.

In addition, the terms of the insurance contract may provide for other grounds for refusing to pay the sum insured. The decision to refuse an insurance payment is made by the insurer and communicated to the insured in writing with a reasoned justification for the reasons for the refusal. At the same time, the refusal of the insurance company to make an insurance payment can be appealed by the insured in court.

In order to somehow protect themselves in a changing world, people have come up with insurance as an effective risk management method that allows you to receive compensation for damage. If everything is in order and there was no insured event, the contributions were given in vain, but many people prefer to buy themselves confidence in the future.

concept

In insurance, risk is events with a negative material effect that occur within a specified period (hypothetical losses).

Risk is a complex and multifaceted concept, as it arises in different areas and has large-scale consequences.

Classification and types of risks in insurance

The classification of risks is carried out according to certain criteria:

The period of occurrence.
Origin factors.
The nature of the account.
Origin area.
The nature of the consequences.

According to the nature of the consequences, the risks are divided into several types.

Pure

Static (simple) risks, as a result of which damage to entrepreneurial activity is inevitable:

Natural.
Ecological.
Political.
Transport.
Production: organizational, technical, legal.

Speculative

Dynamic (commercial) risks, as a result of which both damage to business activities and unplanned excess profits are possible:

Entrepreneurial.
Commercial.
Financial (tax, exchange, credit, innovation, investment, etc.).

The construction industry is developing at a frantic pace, ready-made objects are constantly being commissioned, new construction sites are being laid. In addition to being a very profitable business, it is also risky, which is why this service is in high demand.

Insured and uninsured

In addition to classification, risks are divided into two groups:

Insured- events and phenomena that can be predicted and insured.
Uninsured- uncontrollable events and phenomena that are not subject to insurance, for which no one is responsible.

The insured risk meets a set of conditions:

With a high probability of occurrence.
Random, without reference to time, place and scale of losses.
Independent of the wishes of the parties.
Is not global.
It entails large losses, calculated in monetary terms.

The remaining risks are considered uninsurable.

Entrepreneurial and financial risks

Entrepreneurial risk insurance is subject to circumstances that led to the loss of property, losses or low income. Investments (monetary or property) in profitable production, works and services become the subject of an insurance contract.

The subject of financial risk insurance are losses received from financial transactions (credit, exchange, production activities).

There are three types of financial risks:

Money risks- related to purchasing power (inflationary, deflationary, currency, liquidity).
Investment risks- associated with the investment of funds (lost profits, reduced profitability, direct financial losses).
Organizational and economic risks- related to the organization of economic activity of the enterprise (advanced, negotiable).

In order to live more calmly, and there was always hope for a successful outcome, a useful insurance system was invented that protects against material losses. One of the subspecies of this system is more and more in demand these days.

Grade

A risk assessment is needed to clarify its specific category and calculate the amount of payment. The amount of compensation depends on the extent of the damage suffered and the terms of the contract. The assessment is carried out by insurers using one of the following methods: individual assessments, averages, percentages. Typically, the following risk insurance program is used:

Calculate the probability and frequency of damage, based on the statistics collected for this category.
Calculate the amount of possible losses.
The maximum possible amount of losses is displayed (individually, with reference to the amount of payment under the contract).
The final calculation is carried out, taking into account indirect factors of influence (the difference between estimated and real losses).

Insurance is a way to partially transfer responsibility to the insurance company through the conclusion of an agreement (standard or extended). It is also used as a risk reduction method. Risks requiring insurance are determined by research:

Allocate a base to which risks apply.
Allocate risks that are easier and cheaper to prevent than to insure.
Find out the category of possible risks.

16. Types of risks, their assessment, criteria for the possibility of risk insurance

An insured risk is recognized only as an event that has signs of probability and randomness of its occurrence. Therefore, the risk is not constant, but variable. This is due to constant changes in the economy, as well as many other factors. The insurer, due to the specifics of his work, must constantly monitor the development of risk, and therefore he constantly maintains appropriate statistical records, analysis and processing of the information collected. Based on these data on the possible occurrence of risk, the insurer evaluates it. The assessment consists in the analysis of all risk circumstances that characterize certain risk parameters.

In insurance, risk groups are distinguished, which serve as a measure and evaluation criterion. Each insurance group contains corresponding objects that have similar characteristics. Such a group is called a homogenous group.

When assessing a particular risk, its results are the basis for determining which risk group the object of insurance should be assigned to, as well as establishing which tariff rate corresponds to this risk.

When assessing insurance risk, as a rule, the following are distinguished: kinds:

1) risks that can be insured;

2) risks that cannot be insured;

3) favorable risks;

4) unfavorable risks, as well as a specific type of risk - the technical risk of the insurer.

The largest group is made up of risks that can be insured. The criteria for the possibility of insuring such risks are as follows:

1) the risk included in the scope of the insurer's liability must be possible;

2) the risk must be random. This means that the object on which the insurance legal relationship arises should not be exposed to danger, which is initially known to the insurer or the insured (beneficiary);

3) the occurrence of an insured event, which is expressed in the realization of risk, should not be associated with the will of the insured (beneficiary);

4) the moment of occurrence of the insured event is not known to anyone;

5) the insured event must not have the dimensions of a catastrophic disaster.

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