The only national voluntary reinsurance association of insurers in Russia - the Russian Anti-Terrorist Insurance Pool (RATIP) successfully, without state support, provides reinsurance services, develops relations with international profile associations of countries - members of the Organization for Economic Cooperation and Development (OECD). On the eve of the Moscow International Congress on Insurance and Reinsurance, the Chairman of the Pool, Alexander Gulchenko, told how the organization works.

RATSP is 16 years old. The term is considerable. Tell us what is the Pool today?

Alexander Gulchenko: RATSP is the only voluntary pool of insurers in Russia and the CIS. Among the leaders of the pool are such participants as RESO-Garantia, AlfaStrakhovanie, VTB Insurance, VSK, MAKS, Soglasie, Energogarant, RSHB-Insurance, Sberbank Insurance. Reinsurance organizations are also members of the community: from Russia - RNPK, from Azerbaijan - AzRe, from Belarus - BNPO. The work is structured according to the scheme: one company - one vote, which gives all partners the opportunity to participate, regardless of their size and number of shareholders. But on condition, of course, of a stable financial position and reputation. The Pool is managed by a Russian Industrial Insurance Broker.

We are constantly developing, using the best domestic and foreign practices, insurance standards. For example, our members' losses are paid out within 30 days. The pool operates in the interests of the entire Russian insurance market. However, the Ingosstrakh and Sogaz companies are not members of the national Pool, so they transfer risks mainly abroad.

The market for reinsurance of terrorism risks is limited, there are few players, RATSP occupies a significant market share in the Russian Federation, being the Russian center of competence for these risks. The best professionals - managers from each of the companies - participants of the Pool are nominated to the executive committee and the Supervisory Board of the Pool. The work is carried out systematically and professionally for the benefit of customers and the market.

What are the possibilities of the Pool?

Alexander Gulchenko: The total reinsurance capacity of RATSP is 14.4 billion rubles. What does this mean? Such a maximum amount in the event of a terrorist attack on the insured object will be received by the client. This is the largest anti-terrorist capacity on the territory of the former USSR.

The total liability of the pool is steadily growing. From 2010 to the present, it has increased from 137 to 453 billion rubles. In total, about 3.5 trillion rubles of total financial liability were reinsured in the Pool. The Russian insurance market needs a reliable national reinsurance capacity.

RATSP - an opportunity to reinsure risks in Russia. Not surprisingly, we receive dozens of requests from insurers every week. And in the current situation, the relevance of RATSP will only grow.

14.4 billion rubles - this is the maximum amount in the event of a terrorist attack on the insured object will be received by the client

What is the real contribution of insurance pools in covering the risks of terrorism?

Alexander Gulchenko: The role of pools is growing along with changes in the global economic landscape. The presence of an insurance pool in the country provides a wide coverage of catastrophic risks. Today, pools are indispensable for any state, because they have the necessary resources and practical experience in risk assessment.

How do you rate interaction with business?

Alexander Gulchenko: There is a trend in the world to involve private business in risk management. There is an explanation for this. Professional risk management develops comprehensive strategies for all key threats. As a result, government spending on the prevention and prevention of terrorist attacks becomes more rational, and economic and physical damage during disasters is reduced. Look at the distribution of payments after the September 11 attacks in the United States and Hurricane Sandy. 11 years have passed between the events. During this time, the structure of payments has changed radically.

If under the terrorist attack 49% of the damage was paid by foreign reinsurers, 36% by insurance companies and 15% by local reinsurers, then after Hurricane Sandy the distribution of payments already looked like this: 42% - insurance companies, 17% - foreign reinsurers, 11% - local reinsurers, and 30% - insurance pools!

Does the work of the Pool take into account foreign experience in terrorism insurance?

Alexander Gulchenko: Over the past three years, the situation with terrorism in Europe has worsened. We are in constant contact with all the pools of the world, we receive up-to-date information.

Representatives of 12 foreign anti-terrorist insurance pools proposed to hold consultations and a conference in Moscow in 2018.

Is it even possible to fully assess the damage from a terrorist attack?

Alexander Gulchenko: Indeed, the consequences of the terrorist attack are not limited to financial costs, it is the loss of jobs, and a decrease in tax revenues, and indirect damage. Judge for yourself. After the September 11 attacks, the United States lost 17,000 jobs, and the amount of lost taxes amounted to $ 2.5-2.9 billion. For Wall Street, this terrorist attack cost $ 20 billion in loss. The US defense budget was increased by a third from 2001 to 2003.

The tourism sector is experiencing the greatest consequences of the attack. For example, in France it is 7% of GDP and 2 million jobs. After the terrorist attack in Paris, namely, he suffered the most, the damage amounted to about 12 billion euros. The July 7 attack in the UK reduced tourism revenue by £750m. In Brussels, after the terrorist attack on March 22, 2,000 flights were canceled and 40% of people refused the booked rooms. Global Insight estimates that the damage from the attack in Brussels amounted to $350 billion.

Therefore, I do not recommend businesses to lower the limits on the risks of terrorism. You should not enter your internal limits less than the sum insured in the contract. Find out if the insurer is a member of the RATSP, otherwise there is a risk of simply not receiving payment in full and on time.

1. The financial stability of insurance operations is the most important factor that guarantees the quality of insurance services. To ensure it, according to the commented article, temporary associations of independent insurance companies can be created - insurance pools. Their creation pursues, as a rule, the following goals: a) overcoming the insufficient financial capacity of individual insurers; b) ensuring the financial stability of insurance operations; c) guarantees of insurance payments; d) ensuring the possibility of accepting large risks for insurance, the sole bearing of which is impossible even for reputable insurers.
The first insurance pools appeared in the sixties of the last century due to the increase in large-scale accidents and catastrophes caused by man-made factors.
Insurance pools can operate on the principles coinsurance and reinsurance. In the first case, the participants transfer to the pool all the risks of a certain type, for the insurance of which this association was created. Risks are divided in certain proportions between pool participants, insurance premiums and liability in damages in the event of an insured event are divided in the same proportion. In reinsurance pools, participants independently engage in primary insurance, and the excess risks are transferred to reinsurance in the pool.

An insurance pool is created, as a rule, for carrying out insurance for one type of insurance activity. It is formed on a voluntary basis for a fixed period or without a time limit. Insurers - members of the pool must be licensed to carry out the relevant type of insurance. The number of participants in this association is not limited, and the possibilities of each of them in relation to third parties are also not limited, that is, an insurance company can be a member of several pools.

In most countries, there is no separate legislation governing the creation and operation of insurance pools. Basically, this process is limited and regulated by the norms of the existing antimonopoly legislation. For example, in the European Union, the creation of reinsurance pools is allowed, provided that they control no more than 15% of the share of the relevant insurance services market.

The Civil Code of the Russian Federation (Article 953) states that participants in joint insurance are jointly and severally liable to the insured for the payment of insurance compensation or the sum insured, if the obligations and rights of each insurer are not defined in the contract.

The concept of joint and several liability of the participants in the obligation to fulfill the transaction is established by Art. Art. 322, 323, 325, Civil Code of the Russian Federation. In relation to the insurance pool, it means that the insured (beneficiary, insured person) may demand the fulfillment of obligations from any participant in the insurance pool.

The activities of the insurance pool should be based on the following principles: a) creation of the most favorable insurance conditions for clients based on the application of uniform rules and tariffs by insurers - pool participants; b) conclusion of insurance contracts within the limits of the maximum amount of obligations established by the insurance pool agreement; c) accounting for incoming insurance premiums for the relevant types of insurance on separate sub-accounts or analytical accounting tools in accordance with the established procedure for mutual settlements between pool participants; d) redistribution of insurance premiums received under insurance contracts concluded on behalf of pool participants, in accordance with their share in the risk accepted for insurance; e) joint and several liability of the pool participants for the fulfillment of obligations under insurance contracts concluded on behalf of the insurance pool participants.

2. Federal Law No. 225-FZ of July 27, 2010 "On Compulsory Insurance of Civil Liability of the Owner of a Hazardous Facility for Damage Caused by an Accident at a Hazardous Facility" provides for the creation of a pool of insurers providing compulsory insurance. Thus, in order to ensure the financial stability of insurance operations for compulsory insurance, members of a professional association of insurers form a reinsurance pool to reinsure the risks of civil liability of the owner of a hazardous facility for causing harm as a result of an accident at a hazardous facility.

The agreement on the reinsurance pool should, in particular, establish the rights and obligations of the pool participants, the procedure for distributing the risks assumed by the pool among the pool participants, the conditions for the joint and several liability of the pool participants, the conditions for reinsurance in the pool and reinsurance by the pool, the procedure for conducting business by the pool, issues of mutual settlements between the participants pool for insurance premiums, insurance payments and other costs, the procedure for resolving disagreements and disputes between pool participants. At the same time, it is not allowed for the reinsurance pool to accept risks by types of insurance other than compulsory insurance.

Except for the cases of reinsurance on behalf of the pool in accordance with the reinsurance pool agreement, members of a professional association of insurers are obliged to reinsure in the pool the risk of the insurance payment accepted by them under the compulsory insurance contract, and are not entitled to reinsure this risk with other insurers (in other pools).

Members of the reinsurance pool are not entitled to refuse to accept their part of the risk.

3. Examples of creating insurance pools in Russia are:

1) Russian Anti-Terrorist Insurance Pool (RATSP). It was established on December 20, 2001 by the six largest Russian insurance companies. In 2011, the number of participants was 28, and the total capacity of the pool exceeded 1.5 billion rubles. Reinsurance of terrorist risks is carried out on an obligatory basis between all RATSP participants. When reinsuring risks, pool participants use their own automated management and document management system (ACS RATSP), which allows you to reinsure risks online. The Russian anti-terrorist insurance pool operates in accordance with the founding documents signed by all pool participants. The supreme body of the pool is the Supervisory Board. The working body of the pool is the Executive Committee. The mission of RATSP is to provide enterprises and citizens of the Russian Federation with reliable insurance protection and competitive conditions for insurance and reinsurance against the risks of "terrorism" and "sabotage" (Official site of RATSP);

2) Russian Nuclear Insurance Pool (RNIP). It was established on November 27, 1997 by twenty-one Russian insurance companies. The main task of the insurance organizations included in the pool is to insure the liability of operating organizations - facilities using atomic energy for losses and harm caused by radiation exposure to third parties in the course of carrying out activities within the framework of the Federal Law of November 21, 1995 N 170-FZ "On the use of nuclear energy." The governing body of the RNIP is the Supervisory Board, acting on the basis of the relevant regulation on it, which includes the first heads of the pool participants or persons authorized by them. The executive body of the pool is the Executive Committee, also acting on the basis of a special regulation and consisting of authorized representatives of the pool participants. The quantitative, personal composition and structure of the executive committee of the pool are approved by the decision of the Supervisory Board of the pool (Official website of the RNSP);

3) Sochi insurance pool(originally - the Olympic Insurance Pool) was created by a number of major insurers to insure the risks associated with the 2014 Olympics in Sochi. It included the companies SOGAZ, Alfa-Insurance, Gefest, Ingosstrakh, RESO-Garantia, Rosgosstrakh and Consent. However, this pool, which never started working, broke up at the end of 2010 due to the requirement of the FAS Russia not to occupy more than 20% of the market. In the opinion of the FAS Russia, the pool participants in their rules prescribed discriminatory restrictive requirements in relation to other insurers.

Today it is clear to everyone: hundreds of millions, billions of rubles are needed to eliminate the consequences of modern industrial accidents and social catastrophes. None of them has sufficient funds for this and will not be able to help the affected enterprise alone. In such cases, insurers create insurance pools, i.e. combine finances and divide among themselves. How this exactly happens is discussed in this article.

Insurance pool means all together!

Insurance of such large enterprises as nuclear power plants, aviation companies or plants with environmentally hazardous technology is associated with a high cost of insurance risk, i.e. accident requiring compensation. How much money should a nuclear power plant spend if it happened and hundreds of thousands of people were affected? How much will it cost to pay for damages in a plane crash? What is the extent of the damage caused by a large-scale terrorist attack? The sums are huge.

By concluding an insurance contract, companies are ready to pay large premiums - and this is beneficial for insurers. But payments under these agreements at the time of disasters will be beyond their power and will lead to. Therefore, the insurance supervisory authorities allow the conclusion of contracts only if the amount of risk payments does not exceed 10% of the company's total funds.

Where can you find a company whose financial capabilities would make it possible to compensate for billions in losses from an accident, for example, at a nuclear power plant? In order to share responsibility in the area of ​​huge risks, insurance pools are created - voluntary unions by special conclusion. All members of the association use large contributions from insurers, but the responsibility for paying out insurance is shared by everyone.

Insurance pool as a subject of Russian legislation

The insurance pool is a relatively new concept.

For Russia, pools are a relatively new phenomenon, while in Europe they appeared at the beginning of the 20th century. The first unions in the field of aviation insurance appeared in England and Germany. Man-made disasters in the middle of the 20th century and the growth of terrorist attacks increased the demand for insurance with large payouts, the number of insurance pools increased in the West, and the mechanism for regulating their work was adjusted.

The first insurance law was adopted in Russia 20 years ago. Recently, a new version of the law "On the organization of insurance business in the Russian Federation" dated July 3, 2016 has appeared. Article 14.1 in it is devoted to insurance pools.

An insurance pool is a voluntary association of insurance companies in a certain area of ​​insurance risks. These areas are currently:

• aviation accidents;
• accidents at nuclear power plants;
• drug harm;
• risks of large construction;
• the supply of agricultural products that turned out to be harmful to health;
• consequences of terrorist attacks.

The purpose of such associations is to prevent the ruin of individual insurers in cases where insurance payments may exceed their financial capabilities. Pools can work on 2 principles of mutual assistance:

1. coinsurance
2. reinsurance.

Soinsurance or co-insurance involves the pool participants entering into an agreement with one client, who receives from them. It outlines how much he will receive from each insurer.

Accordingly, each participant receives insurance premiums depending on the degree of participation in the risk. The client has the right to demand insurance payments both from the organization that issued the policy to him, and from each of its representatives, whose share is recorded in the insurance document.

Reinsurance is the most common option in Western practice. In this case, the insurance company independently concludes a contract with the client. The part of payments exceeding its own financial capabilities, the company transfers for reinsurance to the pool board, where it is redistributed among its participants. Along with part of the risks, insurance premiums are also transferred: if a risk event occurs, payments are made by all members of the pool who received contributions.

The pool itself, as an association of insurers, is not a legal entity, but the insurers included in it are subject to legal liability. To join such an association, the following documents are required:

• license - permission of the state for this type of activity;
• constituent documents, including size data;
• balance sheet reflecting the results of financial activities for the reporting period and the solvency of the insurer.

Insurance is a guarantee of protection

Members of the insurance pool pursue a unified insurance policy in their field: they adhere to the same conditions, risk assessment, tariffs, especially their maximum size. Between them, the procedure for the distribution of responsibility and the share of income from insurance premiums is established.

The maximum amount of obligations that a pool can take on is equal to the sum of the financial capabilities of all its participants. If the client needs an insurance amount that exceeds the capabilities of the entire pool, the missing part is reinsured by a third party who is not a member of this association.

International reinsurers can also play this role. The pool policy is reflected on its own site on the Internet. All activities are coordinated by a committee headed by a chairman and a deputy. Pools can be national or regional in scope. The national reinsurance pool unites insurers from all regions of the country, has a large capacity and is able to provide large national risks.

Regional pools are designed to ensure that funds remain within the region, they unite companies in their area and serve local enterprises. Payment of insurance risks occurs after the application of the insured to the company where the contract was concluded. It notifies all pool members of the need for reimbursement.

Each of them must transfer their share of payments to the account of the company that concluded the contract. This share corresponds to the previously taken obligations and the amount of insurance premiums received under this agreement. If at this moment one of the pool members does not have enough funds to complete it, others do it for him.

Having overcome financial difficulties, their comrade is obliged to pay debts within the pool. In case of such difficulties, reserve funds are formed within individual companies and within the pool itself. Thus, through the joint efforts of several insurance companies, large-scale damages are compensated, which would not have been possible without the formation of pools.

The first Russian swallows

Now 450 insurance companies and 2 large national pools operate in Russia. They are monopolists in their fields of activity. The very first in time was the Russian Nuclear Insurance Pool. It was 20 years ago - in 1997. Now it unites 19 largest insurance companies in Russia and solves the problem of insuring nuclear power plants belonging to the Rosenergoatom concern.

So far, this is the only major client of the RNIP; within the framework of international requirements, it fully insures liability in case of possible accidents and has a guarantee of payment for the damage that they may cause. The capacity of the nuclear pool - 8.56 billion is able to cover huge payments, and they will have to be made extremely quickly, in extreme conditions of radiation contamination.

Another 26 Russian organizations whose production process is associated with possible environmental contamination may become potential clients of the pool. The second major association is the Russian Anti-Terrorist Insurance Pool, which includes 24 insurance companies. Its capacity is 12.7 billion rubles. It was formed in 2001 in connection with the growth of terrorist acts around the world and insures organizations and individuals against the consequences associated with terrorist attacks.

The safety of citizens themselves is ensured by state structures, RASP offers clients compensation for property losses and costs of restoring health after sabotage. The anti-terrorist pool insures Russian clients without the participation of international reinsurers, it has sufficient reserve funds and hopes to attract, if necessary, the resources of the state responsible for preventing and eliminating the consequences of terrorist attacks.

In the insurance market of Russia, there is a demand for insurance of major risks in the field of environmentalists, industrial enterprises with high wear and tear of equipment and technologies harmful to health. The creation of insurance environmental, agricultural and industrial pools is a modern response to the growing danger of man-made disasters.

For universal development - the history of the RNIP, the role of Sogaz in insurance of nuclear energy:

An insurance pool - a voluntary association of insurers - is not a legal entity, created on the basis of an agreement between pool participants in order to ensure the financial stability of insurance operations on the terms of joint and several liability of its participants for the fulfillment of obligations.

The pool is created mainly when dangerous, large or little-known risks are accepted for insurance. The activity of the pool is based on the principle of co-insurance.

Insurance pools are widely used in foreign countries with a developed insurance system.

Creation and operation of insurance pools ensures the following tasks:

overcoming the insufficient financial capacity of individual insurers;

ensuring the financial stability of insurance operations;

guarantees of payment of insurance indemnities;

the possibility of accepting for insurance large and unique in their complexity and magnitude of probable risks, significantly exceeding the possibility of own retention of the entire risk, no matter how large the insurance organization is.

At present, especially large risks include aviation and space risks, risks in nuclear energy, risks of maritime transport and shipping, and some others.

The variety of types used in aviation insurance: hull insurance, passenger and crew accident insurance, liability to third parties leads to the cumulation of risks.

Practically no insurance institution is financially capable of covering the total loss of a modern aircraft with the full cumulation of the insurance risk. These circumstances lead to attempts to distribute serious insurance risks in the international aviation insurance market in the form of reinsurance, reinsurance pools, co-insurance, with a tendency to limit the original insurer's own share of retention of liability.

Insurance pools operate on the principles of co-insurance as well as reinsurance. In pools of joint insurance, participants transfer to the pool all the risks of a certain type, for which the association was created to insure.

All risks transferred to the pool are divided in certain proportions between the participants, together with insurance premiums for them. The share that each pool member receives is determined as a fixed percentage, the so-called signing share.

The pool serves as joint risk insurance. Often such a community consists of a large number of participants and thus provides a better balance and distribution of risks. Each pool member shares in the risks covered by the pool on the basis of a proportional distribution scheme established from the outset. Such pool shares are expressed either as a percentage of the entire pool capacity (for example, 5%), or in absolute shares (for example, 5 out of 100 shares), or, much less often, in fixed amounts.

In reinsurance pools, participants are engaged in primary insurance on their own, and the excess risks are transferred for reinsurance to the pool.

By accepting its specific share, each pool participant participates not only in the risks that he himself accepted or transferred to the pool, but also in all other risks contributed to the pool by other participants. This concept achieves three important goals:

a) the number of risks taken by each participant according to his share increases with the desired effect, and from the point of view of insurance is the desired increase in risks;

b) the composition of risks in the portfolio of each participant improves;

c) a pool member cannot incur losses in excess of his share. The danger of risk cumulation is relatively easier to eliminate because all risks are summarized and reviewed by the pool board.

The main bodies of the pool:

a) a meeting of pool participants;

b) the supervisory board of the pool;

c) pool executive committee.

The meeting of participants - the highest governing body - usually has broader powers than, for example, a meeting of shareholders of a joint-stock company. In many cases, the meeting of members is empowered to elect a supervisory board, establish governance principles, determine maximum risk limits and the pool's own holdings, approve annual reports, justify the actions of the executive committee and governing bodies, amend the pool's bylaws, and so on.

The Supervisory Board consists of members of the board of all companies included in the pool. It not only performs control functions as a supervisory board of a joint-stock company, but also decides on reinsurance, tariffication and contract terms.

The task of managing the pool is entrusted to the pool participant, a professional reinsurance company or a special pool secretariat. One of its main tasks is the technical processing of the distribution of risks transferred to the pool. This company is the collection point for all risks transferred to the pool. The board's job is to allocate such risks, to compile and distribute regular (usually quarterly) reports to pool members on matters related to the handling of pooled risks, to assist in the settlement of losses (especially in difficult cases), and to take care of the general reinsurance policy of the pool.

Management costs are usually distributed among the participants according to their shares in the pool.

Reinsurance contracts entered into by the pool at a common expense relieve the pool of risks that may exceed its capacity. In order to achieve and improve the balance, reinsurance contracts may be concluded with foreign pools operating in the same business area.

In most countries, insurance pools are limited in their activities by antitrust laws. For example, according to the regulation of the European Community, the creation of reinsurance pools is allowed, provided that they control no more than 15% of the capacity of the corresponding risk.

In Russia, the formation and functioning of insurance navels is regulated by the Law of the Russian Federation "On the organization of insurance business in the Russian Federation" and the regulatory acts of supervisory authorities, in particular the Regulations on the insurance pool, approved by order of Rosstrakhnadzor dated 31.03.96. No. 08-11r22 "On the activities of insurance pools.” The current regulation on the insurance pool does not provide for the formation of reinsurance pools, since reinsurance does not allow joint and several liability of insurers.

The insurance pool is created for a certain period of time for a specific type of insurance activity on the basis of an agreement between the participants. The agreement defines the following characteristics of the pool:

the subject of his activity;

types of insurance and property risks accepted by the pool for insurance;

conditions, procedure for concluding and executing insurance contracts concluded on behalf of pool participants;

mutual obligations of participants and the order of interaction between them.

The agreement determines the financial participation of each pool member, uniform insurance rules and uniform tariffs, establishes the maximum amount of the pool's obligations when concluding contracts on its behalf and the share of responsibility of each pool member for the risks taken.

The agreement defines the procedure and terms for mutual settlements between pool participants, policyholders and insurance intermediaries.

The activities of the insurance pool should be based on the following principles:

creation on the basis of unified rules and tariffs of insurers - participants in the pool of the most favorable insurance conditions for customers;

conclusion of insurance contracts within the limits of the maximum amount of obligations established by the insurance pool agreement;

accounting of incoming insurance premiums for the relevant types of insurance on separate sub-accounts or by means of analytical accounting - in accordance with the established procedure for mutual settlements between pool participants;

redistribution of insurance premiums received under insurance contracts concluded on behalf of pool participants, in accordance with their share in the risk accepted for insurance;

joint and several liability of the pool participants for the fulfillment of obligations under insurance contracts concluded on behalf of the insurance pool participants.

The liability of pool participants for accepted risks should not exceed 10% of their own assets.

If the insured risk exceeds the capacity of the pool, then the excess must be reinsured in insurance companies that are not members of the pool.

Upon the occurrence of an insured event, the insurer who received the application from the insured is obliged to immediately inform other pool participants about this, providing documents confirming the fact and amount of damage.

The first association of insurers in the pool, created in England in 1919, was called the "British Aviation Insurance Group" (British Aviation Insurance Group). It united 24 groups of Lloyd Corporation, as well as several other institutions. A large organization is the Nordic Aviation Insurance Pool for Luftfart Fersikring, which includes 137 insurance institutions. In 1920, an aviation insurance pool was created in Germany.

There are two separate committees in the German pool;

accident and liability insurance (classes A and B);

for aircraft hull insurance (class C).

In the 60s of the last century, due to the increase in the number of large-scale accidents and catastrophes caused by man-made factors, the construction and operation of nuclear power plants, the development of astronautics, certain prerequisites appeared for the creation of various insurance pools.

The pool committees determine the kind of risks that should be covered in their class. They also determine premiums, insurance conditions and the amount of commissions due to participating companies to cover their expenses, including commissions for agents and brokers.

Current affairs are decided by the board of the pool, chosen by the meeting. It also represents the pool abroad.

Teaching aid for self-preparation for practical exercises (in questions and answers).
Taganrog: SFU, 2007

FINANCE OF INSURANCE ORGANIZATIONS

What is an insurance pool?

Insurance pool- this is a voluntary association of insurers, which is not a legal entity, created on the basis of an agreement between them on the terms of the joint and several liability of its participants for the fulfillment of obligations under insurance contracts concluded on behalf of the participants in the insurance pool.

In order to ensure the financial stability of insurance operations, guarantees of insurance payments, more complete insurance coverage of risks, and satisfaction of the needs of policyholders for insurance services, insurers may sign an insurance pool agreement.

The insurance pool is created for a fixed period or without its limitation and operates on the basis of an agreement signed by insurers. The number of insurers - pool participants can be arbitrary.

Insurers - members of the insurance pool conclude insurance contracts under the uniform developed conditions and insurance rates within the limits of the maximum amount of obligations established by the agreement for each individual risk. Insurance premiums received under contracts concluded on behalf of the insurance pool are redistributed among the participants according to their share in the risk taken on insurance. The activities of the insurance pool participants are aimed at creating favorable insurance conditions for clients. They are responsible for the fulfillment of all obligations assumed under the insurance pool agreement. The following insurance pools have been formed in the Russian insurance market through the efforts of insurers:

ecological pool,

Space Risk Insurance Pool,

Nuclear Liability Insurance Pool,

Community Housing Insurance Pool,

Pool for insurance of construction and installation calculations,