When insuring a single risk, the definition of this risk in the insurance contract must be precise and legal.
If the description of the risk turns out to be vague and superficial, this will certainly not benefit the policyholder: the insurer will have more opportunities to avoid paying compensation when insured event.
The policyholder may face another problem: the definition of the risk is carefully worked out, however, the insurer refuses to provide the service, considering the risk not insured.
In such a situation, you will have to delve deeper into the study of the theory of insurance and find out what criteria the risk must meet in order to be called insurance - there is no other way to understand whether the insurer is right or just "leads by the nose". Read the article and learn about the criteria and types of insurance risks.
Variety of criteria
There are several criteria that make it possible to consider the risk as insurance:
- Randomness is the most important criterion. Intentional, non-accidental events are never insured. Neither the policyholder nor the insurer can know when the insured event will occur, what the damage will be. Complete independence of the amount of damage from the behavior and will of the insured is important. If the policyholder knows about the amount of damage, then the insured event was deliberately set up, and such actions are defined as fraud. Also, risks are not subject to insurance, the outcome of which is the winning of the insured - such risks (playing in a casino or on the stock exchange) are called speculative.
- Possibility of damage assessment. The probable damage, as well as the degree of probability of the occurrence of the event, can be predicted in some way (for example, by using mathematical models). If you assess the damage preliminarily it is impossible, which means that it will not be possible to determine the amount of the insurance premium - the cost of insurance services. At the same time, the scale of harmful consequences after the occurrence of an insured event should be large enough - no one will insure people against minor domestic troubles.
- Unambiguity. Insured object, possible damage, insured event can be define unequivocally.
Both parties are interested in the accuracy of the wording: not only the insured, but also the service provider can become a victim of ambiguity, if his client decides to take advantage of the weak legal literacy of the representatives of the insurance company.
- Opportunity. The risk included in the scope of the insurer's liability must be realistic likely not science fiction. This requirement looks a bit absurd, but nevertheless it is also one of the main criteria.
Insurance risk: concept
Based on the criteria listed above, the insurance risk can be defined as a probable but random event, upon the occurrence of which the policyholder is obliged to pay the beneficiary the previously agreed compensation.
However, there are other ways of interpreting the concept insurance risk- it is defined as:
- Danger to the insured citizen.
- The probability of the occurrence of the insured event (the magnitude of the hazard).
- The object of insurance itself - if we are talking, for example, about buildings.
- A set of events upon the occurrence of which the insurer pays compensation.
- The amount of liability of the insurance company.
The insurer can interpret the concept insurance risk any of the above methods, therefore, before concluding a contract, the policyholder should inquire, what the insurer means by risk. It is not necessary to ask the employee of the insurance company about this - as a rule, the main terms with definitions are listed on the first page of the insurance agreement.
Types of risks
Anti-insurance - building block
There are many different classifications of risks, however, within the framework of the general classification they distinguish:
- Environmental risks - risks of deterioration of environmental conditions caused by the desire of a person to improve their well-being. Such risks are usually not included in the scope of the insurer's liability, but recent times a special insurance industry is actively developing, which meets the insurance interests caused by environmental risks.
- Transport risks. Everyone is familiar with the abbreviations CTP, CASCO and CARGO: CTP policies insure drivers against losses after an accident, CASCO protects against theft and natural disasters, CARGO - less common policies - insure transported goods. Transport risks are actively insured.
- Political risks - associated with illegal actions of a foreign state aimed at violating the sovereignty of another country. Insurance of such risks is possible, but rarely practiced - it is obvious that, when it comes to entire states, the amount of compensation may be too high.
- Technical risks are manifested in the failure of machines, which threatens production downtime, financial losses and industrial injuries. Technical risks are also included in the scope of the insurer's liability - moreover, employers are required to list insurance premiums in the FSS.
The amount of contributions to the Social Insurance Fund depends on how risky the activity of the enterprise is - in factories where the risk of getting an occupational injury is extremely high, the contribution rate is "maximum" 8.5%.
- Risks civil liability related to claims that may be presented by victims of sources of increased danger - space stations, chemical industries. With such a risk, the insured and the injured are different persons, because the insured is the owner of the "dangerous" enterprise, and the injured is an unauthorized person.
Not all of the listed types of risks are included in the scope of liability of insurers - some simply do not meet one or more of the criteria for insurance risks. For example, in the case of political risks, it is extremely difficult to assess the possible damage. However, over time, fewer risks are taboo for insurers - high competition in the market forces them to use any opportunities to raise money.
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1.2 Types of risks and their assessment
1. Risk in insurance: concept, classification, risk assessment
1.1 Concept and characteristics of risk in insurance
In the field of insurance, risk is understood as a probable event or a set of events, in the event of the occurrence of which insurance is carried out. For each type of insurance it is implied various groups events:
in property insurance- the possibility of death or damage to property from fire, floods, earthquakes and other disasters;
in personal insurance - an accident fraught with disability, marriage, childbirth, etc.
Sometimes the insured risk is understood as the degree of danger of the occurrence of the event from which the insurance is carried out.
Risk also includes the distribution of unfavorable economic impact upon occurrence of an insured event. As a rule, the insurance organization assumes the obligation to compensate for a certain part of the possible damage, constituting the "insurer's risk"; the non-reimbursable portion of the damage remains at the "insured's risk". The ratio of such risks is determined by the sum insured and the system of insurance coverage. IN international practice insurance risk can mean the object of insurance. Any risk has the following characteristics:
1) the presence of a large number of units at risk;
2) random nature of losses;
3) non-catastrophic nature of losses;
4) the ability to calculate the probability of losses;
5) low insurance premium.
From this position, any projects should be considered that provide for insurance protection of any property interests.
Insurance risk should be considered in several aspects:
as a specific phenomenon or a set of phenomena (an event or a set of events), upon the occurrence of which payments are made from the previously formed centralized insurance fund in natural-material or monetary form;
in connection with a specific insured object. An event or set of events is not considered abstractly, by itself. They should be correlated with the object accepted for insurance, where the risk is realized. Any risk has a specific object of manifestation. In our minds, risk is associated with this object. In relation to the object, risk factors are manifested and studied accordingly. Analysis of the information received in combination with other measures allows you to prevent or significantly reduce negative consequences implementation (realization) of the risk;
the risk is associated with the likelihood of death or damage to this object accepted for insurance. Probability acts as a measure of the objective possibility of a given event or a set of events with harmful effects. Any probability can be expressed as a correct fraction. If the probability is equal to zero, it can be argued that the occurrence of this event is impossible. With a probability equal to one, there is a 100% guarantee that this event will occur. The less the risk is, the easier and cheaper it can be to arrange for insurance. The significant likelihood of risk implies expensive insurance coverage, which makes it difficult to carry out.
1.2 Types of risks and their assessment
In insurance, risks are divided into the following types:
Military. This view risks brings together a large group of risks, implying compensation for losses associated with the loss or damage of the insured property as a result of seizure, arrest, any military action, detonation of a bomb, civil unrest, armed actions of intruders.
Political. This includes the risks associated with unlawful acts from the point of view of international law, events or actions of governments. foreign states in relation to another state or citizens of a sovereign state.
Civil liability risks. This group covers the risks associated with legitimate claims of physical and legal entities in connection with harm caused by a source of increased danger (road, rail, air and sea transport, a number of chemical industries, etc.). In this case, civil liability to third parties is insured.
Objective, i.e. not dependent on the will of the policyholder (natural disasters, earthquakes, floods, etc.).
Subjective, based on denial or ignorance of an objective approach to reality.
Individual, expressed in ignoring the insurance of an individual household, masterpieces of painting, collections, etc.
Universal - risks included in the scope of the insurer's liability under most contracts, for example, insurance against accidents and illnesses, theft of property, etc.
Technical risks. Risks associated with the implementation of insurance. They are universal in nature, i.e. protect an object from a variety of causes of damage. Technical risks can damage property, life and health of people and the financial interests of the enterprise due to interruptions in production and excess costs.
Subdivided according to the species composition of fixed and circulating assets, in which they appear:
1) industrial risks;
2) construction (construction and installation) risks;
3) electrical risks;
4) risks of diseases of animals, plants, death of livestock, damage to crops, etc.
Transport risks. This includes insurance of air, land, rail and water transport, comprehensive insurance, cargo, liability insurance.
Special risks. This means insurance of the transportation of especially valuable cargo. The content of special risks is discussed in special conditions insurance contract and may be included in the scope of the insurer's liability.
Environmental risks. Risks associated with environmental pollution.
Abnormal risks. This group covers risks that the relevant objects do not allow to be attributed to one or another type of insurance.
Catastrophic risks. When they occur, they can cause damage to the policyholder and in especially large amounts. According to the international classification of the Organization for Economic Cooperation and Development, catastrophic risks are divided into endemic (local) risks that occur under the influence of meteorological factors and conditions, and risks that occur under the influence of land quality (for example, soil erosion).
The risk can be insured and not insured. The largest group is made up of risks that can be insured.
Insurance risk is a risk that can be assessed in terms of the likelihood of an insured event and the quantitative amount of possible damage.
The main properties, the combination of which makes it possible to consider the risk as insurance:
1) the risk included in the scope of the insurer's liability must be possible;
2) the risk must be random, both in terms of the time and space of the insured event and the possible amount of the insured loss;
3) the occurrence of an insured event (risk realization) should not be associated with the will of the policyholder or other interested person (speculative risks are not insured);
4) the insured event should not have the dimensions of a catastrophic disaster, i.e. should not cover the mass of objects within a large insurance population, causing massive damage;
5) the scale of harmful consequences must be large enough and affect the interests of the policyholder;
6) the ability to calculate the probability of an insured event.
The rest of the risks are not insured.
General classification of risks.
Depending on the source of the hazard:
associated with the manifestation of the elemental forces of nature (earthquakes, floods, mudflows, fires, etc.);
associated with the purposeful influence of a person in the process of appropriating material goods (theft, robbery, vandalism, etc.).
By the scope of the insurer's liability:
individual risk (expressed in ignoring the insurance of individual household property, paintings, collections, etc.);
universal risk (included in the scope of the insurer's liability under most contracts - for example, theft);
specific: abnormal (risks that do not allow the relevant objects to be attributed to one or another insurance group, for example, individual life insurance, insurance in the event of “non-implementation of licenses for shooting wild animals”) and catastrophic (risks that may bring significant damage to the insured on a particularly large scale, for example, an accident at a nuclear power plant).
By the role of the will and consciousness of people:
objective risks (do not depend on the consciousness and will of the insured);
subjective (based on denying or ignoring an objective approach to reality).
Risks are also accepted:
environmental, (associated with environmental pollution);
transport: Casco (transport insurance), cargo (cargo insurance);
political (repressive) risks associated with illegal actions from the point of view of international law, events or actions of foreign governments against a sovereign state or its citizens;
special, insurance of transportation of especially valuable cargo (precious metals, precious stones, works of art, cash);
technical - accidents;
civil liability risks;
technical risk of the insurer - the risk associated with the implementation of insurance. The presence of this type of risk encourages the insurer to actively participate in the organization of preventive measures in order to reduce the likelihood of an insured event.
All market conditions, taken in unity and interaction, determine the state, which is called the situation or the total risk rate.
The risk situation characterizes the state of insurance objects and the environment in which they are located.
The total risk rate is defined as the sum of the private risks.
The insurance company must constantly monitor the development of risk by conducting appropriate statistics, analysis and processing of the collected information.
At the same time, risk groups are distinguished containing insurance objects that have approximately the same characteristics (homogeneous group).
The decision to which risk group a particular insurance object should be attributed is made based on the results of its assessment. In this case, the average is used as a comparison measure. risk type groups, i.e. average value risky circumstances.
To assess risk as a specific object of insurance (insurance assessment and the likelihood of damage), the following methods are most often used:
average values - subdivision of risk groups into subgroups;
percent - discounts and markups to the available analytical base, depending on possible positive and negative deviations from the average risk type;
individual assessments - in relation to risks that cannot be correlated with the average type of risk, expert assessments.
The insurance risk is always accompanied by a number of risk circumstances - the factors that determine the registration of risk for a given risk population.
Reimbursement material costs caused by them - one of the main tasks of the insurer. The close interweaving of natural and man-made risk factors requires a deep expert assessment of the insurer and the use of special methods.
The classification of natural disasters, accidents and catastrophes is made according to the amount of damage caused and the amount of resources required to eliminate the consequences. Allows you to reduce all the variety of different manifestations to several typical situations.
2. Basics of risk management (risk management)
The insurance company is not interested in the insured event. Therefore, insurers are actively pursuing risk management measures in order to minimize them. Purposeful actions to limit or minimize risk in the system of economic relations are called risk management.
Risk management (risk management) is purposeful actions to limit or minimize risk in the system of economic relations.
The conceptual approach of risk management includes:
identifying the consequences of activities economic actors in a risk situation;
ability to react to possible negative consequences;
development and implementation of measures that can neutralize or compensate for the likely negative consequences.
identifying risk in alternatives, admitting it only within the socially acceptable level (the risk is fully acceptable, partially acceptable, completely unacceptable);
development of specific measures aimed at eliminating or minimizing possible negative consequences of the risk. (Development of organizational and operational procedures of a preventive nature);
creation of special plans that allow people to act in an optimal way in a critical situation, who implement decisions with risk or control this process (a situational plan containing instructions on what each employee should do in a given situation, and a description of the expected consequences);
preparation and adoption of regulations helping to implement the chosen alternative ( legal support consists in the development and adoption of laws and regulations that minimize or limit risk. The acts should reflect the question of when and under what conditions the risk is justified, legitimate and appropriate);
taking into account the psychological perception of the risk of important decisions and programs.
Reasons for different perceptions of risk among people:
information content (reassessment of events, which are more often reported in the media);
methods of presenting information (dry statistics of car accidents reduce perception, and individual examples increase);
postponement of possible negative consequences (harm of smoking) and others.
These provisions allowed in practice to develop four methods of risk management:
abolition. (No smoking, no flying, etc.) Unfortunately, eliminating risk also eliminates profit.
prevention of losses (to protect yourself from accidents) and control (to limit the amount of losses in the event that a loss occurs).
insurance. Distribution of losses among the insurance population exposed to the same type of risk.
absorption. Recognition of damage risk without distributing it through insurance: a) the probability of risk is low (meteorite fall); b) self-insurance.
The risk management process can be broken down into six stages:
determination of the goal - the object of insurance (health care, maintenance of the standard of living in case of loss of a source of income, ensuring the existence of the company in unforeseen circumstances);
clarification of risk (awareness of risk);
risk assessment - probability and possible damage;
selection of a risk management method: abolition, loss prevention and control, insurance, takeover. A combination of methods is possible;
risk management and application of the selected method (insurance - conclusion of a contract, loss prevention and control program);
evaluation of results - is everything done to prevent losses.
Planning as an element of management includes the following stages:
1) target selection;
2) assessment of income and costs associated with the implementation of one way or another way to achieve the goal;
3) the sequence of actions to implement the plan;
4) checking and evaluating the plan.
Methods for determining the likelihood of damage:
1) statistical (statistical probability) - there are statistical data;
2) analytical (objective probability) - mathematical laws can be derived;
3) the method of expert assessments (subjective probability) - is determined "directly" by the expert;
4) inference methods (induction, deduction, analysis, synthesis, etc.) - logical probability.
The variety of forms of risk manifestation, the frequency and severity of the consequences of its manifestation, the impossibility of eliminating the risk necessitate the organization of insurance.
Bibliography
1. Law Russian Federation"On the organization of insurance business in the Russian Federation" dated 27.11.1992 No. 4015-1 (as amended on 27.07.2010)
2. Balakireva, V.A. Life insurance / V.A. Balakireva. - M .: Finance and statistics, 2006. - P.37-40.
3. Klimova, M.A. Insurance: Tutorial/ M.A. Klimov. - M .: Publishing house MGUP, 2000. - 244 p.
4. Rudakov, A.P. Insurance business: textbook. allowance / A.P. Rudakov - M .: MGOU, 2008 .-- 57 p.
5. Serbinovsky, B.Yu. Insurance business: textbook. allowance / B.Yu. Serbinovsky, V.N. Garkusha. - Rostov-on-Don: Phoenix, 2010 .-- 387 p.
6. Insurance: textbook / under. ed. V.V. Shakhova, Yu.T. Akhvlediani. - M .: UNITI-DANA, 2007 .-- 511 p.
7. Khachaturian K.S. Insurance Training course / K.S. Khachaturian. - M .: MIEMP, 2009 .-- 123 p.
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Insurance risk is an unexpected adverse event or a phenomenon that threatens unprofitable consequences that may occur in the future.
The main indicators that can serve as a definition of insurance risk are the following factors.
1. The reality of the risks included in.
2. The randomness of the origin of an event. Instability of the object subject to insurance over time, which may lead to the fulfillment of obligations under insurance contract... This does not include possible, known hazards, the likelihood of which is known to all parties to the insurance relationship. A prerequisite it is also considered the impossibility to determine earlier the time, reasons or extent of possible damage.
3. The likelihood of an insured event with these objects. Of great help in studying this issue are various statistical studies, which allow determining the number of insurance payments and the likelihood of an insured event.
4. It is unacceptable to artificially create conditions that provoke the occurrence of an insured event
5. Unknown exact place and time of occurrence of the insured event.
6. The negative consequences of the insured event can be measured and evaluated realistically.
The following are understood as insurance risks:
The likelihood of approaching an insurance precedent;
- directly the subject of insurance;
The amount of liabilities of insurance agents under insurance contracts.
Varieties of insurance risks
In my work insurance agents highlight pure and speculative risks. Net risks are called unforeseen incidents or events leading to damage or unchanged position of the insured object. These can be natural disasters, traffic accidents and other unforeseen, unplanned incidents.Speculative risks include events that occur through the fault of interested parties for the purpose of profit. A distinctive feature of such events is the direct dependence on the beneficiary, that is, on the subject of insurance. When making such transactions, he will certainly incur losses. Therefore, if the insurer has reason to believe that the possibility of such an event is not excluded, he has the right to refuse insurance.
Insurance companies only work with pure risks. 
It is based on the characteristics of these risks:
The nature of the hazard;
The nature of the activities of insurance entities
Risk objects;
The possibility of insurance.
1. Nature of the hazard
Risks associated with man-made accidents. They are based on human activity: accidents, catastrophes, military operations, unfavorable environmental conditions, theft, social incidents
Risks associated with natural phenomena. Their origin is based on the forces of nature, independent of human actions. These include natural disasters: floods, earthquakes and many others.
2. The nature of the activities of insurance entities
Risks associated with financial or commercial activities person. These include inflation, under contracts.
Political risks.
Risks associated with a person's occupation, such as work-related injuries.
Transport risks arising from cargo turnover, when making passenger turnover by any type of transport.
Risks associated with environmental pollution caused by both human activities and natural phenomena.
3. Objects of risk
Damage to life and health as a result of illness, accidents, resulting in death or disability.
Loss of property as a result of fires, thefts, natural disasters or other events
Responsibility of persons in case of harm to life, health or property of third parties.
4. Possibility of insurance
According to this classification, insurance risks and non-insurance risks are distinguished.
Analysis of insurance risks
An important part of the work of insurers is the monitoring of insurance risks, which significantly affects the amount of insurance payments.To determine the amount of payments under insurance contracts Insurance Company uses a specific technique.
1. On the basis of statistical data for each specific case, a calculation is carried out based on a mathematical model of the theory of probability.
2. Potential damage is determined.
3. The maximum possible degree of damage is calculated. In every particular case insurance payments under the contract are determined individually, in accordance with the requirements of the policyholder and the insurance company.
4. Indicators of deviations from the calculated damage are calculated and corrective indicators are indicated for each individual case.
Determining insurance hazards and risks is an important part of an insurance agent's job.
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Insurable risk is an anticipated event. Risk is understood as a particular hazard from which insurance is made, i.e. this event with negative consequences... Risk is understood as the degree or magnitude of the expected hazard, i.e. risk means the likelihood of an insured event occurring. Risk refers to a specific insurance object or type of liability. Risk is the amount of liability of the insurance company to its affected customers as a result of the insured event.
Insured event - an event specified in the insurance contract, concerning the occurrence of which the contract was concluded.
Insured event - an accomplished event provided for by law (if compulsory insurance) or an insurance contract (if voluntary insurance), upon the occurrence of which and compliance with the terms of the contract, the insurer is obliged to make an insurance payment.
There are many different classifications of risks based on the characteristics of certain risks.
By the nature of the danger:
§ technogenic risks. For reasons of occurrence, these risks are associated with human activities (fire risks, accidents, thefts, environmental pollution, etc.);
§ natural risks. The occurrence of risks does not depend on human activity and is not subject to control. These are mainly the risks of natural disasters: earthquakes, hurricanes, lightning, volcanic eruptions, etc.
By the nature of the activity:
§ financial and commercial risks(for example, inflationary risks, currency risks, investment risks, risks of lost profits, non-fulfillment of contractual obligations, credit risks etc.);
§ political risks (various changes in the conditions of the entity's activities for reasons determined by the activities of the government controlled, illegal actions from the point of view of international law);
§ professional risks(risks arising when subjects perform their professional duties);
§ transport risks (risks arising from the transportation of goods and transportation of passengers by sea, air and by land transport);
§ environmental risks (risks associated with environmental pollution), etc.
For objects at which the risk is directed:
§ risks of damage to the life and health of citizens (illness, disability, death, accident, etc.);
§ property risks (fire, theft, property damage, etc.);
§ risks of civil liability (liability arising from harm to life, health or property of third parties).
In terms of insurance opportunities:
§ insurance risks;
§ non-insurance risks.
The presence of an insurable interest is due to the awareness of the risk and possible damage in the event of a risk realization. However, not all risks can be insured. From the standpoint of insurance, risks are divided into two groups: risks that are subject to insurance (insurance risks); risks that are not subject to insurance (non-insurance risks).
Insurance organization performs many functions and operations. The most difficult is the assessment and forecasting of risk. In order for a risk to become insured, it must meet the following requirements:
1. The risk must be probable(the possibility of an insured event should be assessed).
2. The risk must be random(Neither the place of the accident, nor the exact time of occurrence of the insured event, nor the amount of probable damage should be known in advance). It is impossible to insure against an event that, as we know, will definitely happen, since in this case there is no risk and uncertainty of losses. The frequency and severity of any risk must be completely beyond the control of the policyholder.
3. The risk should not be isolated... To calculate the probability of an insured event, statistical data on the patterns of occurrence of similar risks are required.
Before a risk can be insured, a fairly large number of similar homogeneous manifestations of risk must appear.
4. The risk must entail a financially measurable loss... It is very important to remember that insurance is appropriate only in situations where a loss entails monetary compensation... The consequences of the insurance risk are easy to predetermine, for example, when property is damaged, where the amount of compensation can be compared with the cost of repairs. In life insurance, it is much more difficult to say that the financial loss that a wife will incur in the event of her husband's death is expressed in a certain sum of money... We can only talk about the amount of compensation that will be paid in case of death, if it occurs during the period specified by the policy conditions.
Risks, the result of which can be assessed in monetary units ah, called financial. Financial risks are mainly subject to insurance, and non-financial (the consequences of which are not amenable to financial assessment) - are not subject.
5. The insured event must not have the character of a catastrophic disaster (disastrous or fundamental risks)
Before talking about the fundamental risks themselves, it would be useful to consider their fundamental basis. They are defined as fundamental, since the reason for their occurrence is the very essence of society. We live in some kind of environment, the physical essence of which is beyond human control. Examples of such risks are wars, strikes, social unrest, riots, inflation, changes in customs and traditions, typhoons, tsunamis. The first six are a kind of offspring of the society in which we live, and the last two are attributes of some physical phenomena. The causes of such risks are beyond the control of any person or group of people, these are uncontrollable and all-encompassing risks, usually the entire society bears responsibility for the consequences of such risks. In general, catastrophic (fundamental) risks are not suitable for insurance, but recently insurers increasingly include them in the scope of liability under certain conditions.
The opposite of fundamental risks are private risks. Private risk is rooted in individual events and the impact of these risks is felt locally. Theft of property, accident, injury - they all have a personal impact on a particular person, for example, a boiler explosion is an example of a private risk. Private risks are usually suitable for insurance.
6. The fact of the occurrence of the insured event should not be associated with the will of the policyholder or other interested parties (beneficiaries). Insurance of risks associated with the intent of the policyholder is not allowed. Risks, the outcome of which may be a win for the policyholder (beneficiary), are called speculative and are not subject to insurance (betting, playing in a casino, lottery, etc.). The risks that exclude such a possibility are called clean(fire, theft, injury, illness, etc.). For the most part, net risks are insured.
Risk management is aimed at active control by the enterprise for the risks of the cat threaten the enterprise. risk. Management consists of 3 parts:
1.identification of risk
2.measurement of risk
3.risk control
1. Risk identification consists in the systematic identification and study of the risks that are characteristic of a given type of activity. In this case, you need to learn more about risk factors: there are factors of the 1st and 2nd order. 1st order factors are the primary causes of risk as such. Most often they are objective and out of control (natural disasters). Second-order factors affect the likelihood of damage and its magnitude. They are not in themselves a cause of damage. These factors are divided into subjective and objective. Objective - the construction materials from which the building is built, the location of the object, age. Subjective - associated with the behavior of people. It is they who have a decisive impact on the risk situation.
2. Measurement of risk is reduced to determining the degree of its probability and damage.
3. Risk control protrusion in 2 forms: physical counter, financial control. Phys implies the use of various methods to reduce the likelihood of damage. Financial control consists in looking for sources of compensation for possible damages in monetary form.
3.1. Concept and economic essence insurance risks
3.2. Classification and characteristics of risks in insurance
3.3. Insurance risk management
Basic concepts: insurance risk, insurance event, insurance event, risk circumstances, risk cumulation, frequency of occurrence of an insurance event, amount of damage, criteria of insurance risks, general classification of risks, net risks, speculative risk, risk assessment methods, risk management, risk monitoring ...
Risk is complex. It is associated, first of all, with an understanding of danger, threat, insecurity, excitement, uncertainty, uncertainty, damage.
The concept and the economic essence of insurance risks
The term "risk" comes from the Greek words ridsikon, ridsa, which means "cliff", "rock". Some researchers believe that the word "risk" came into European languages from Spanish or Portuguese, because this is how the ancient navigators called the underwater rocks and threatened the death of their ships.
The transition to a market economy, economic transformations in Ukraine created an environment in which interest arose in such a category as risk, and the theoretical substantiation of this concept, the disclosure of the nature of its occurrence, classification and development of a system of measures to prevent or minimize its negative consequences not only received their further development, but also became an important tool market economy.
Among scientists there is no unambiguous interpretation of the essence of risk, due to several reasons. First, in the Soviet economics risk as an economic category did not find a definition at all; secondly, in the conditions of the formation of a market economy, the interpretation economic categories some scientists received an arbitrary shape.
The most universal and structured risk component is its definition as a combination of three elements: a certain event, its probability and consequences, since:
1) any risk is possible only with a certain event;
2) there must be a certain probability of an event occurring; the very likelihood of risk occurrence serves as a methodological basis for risk management;
3) there should be consequences from the onset of risk, which can be both negative and positive.
Risk is a prerequisite for the emergence of an insurance relationship, without it there is no insurance, because without risk there is no insurable interest. The risk defines the limits of insurance coverage. In terms of its content, risk is an event with negative, especially unfavorable economic consequences that may arise in the future at any time on an unknown scale. The risk factor itself and the need to cover possible damage as a result of its manifestation cause the need for insurance. Through insurance, any human activity is protected from accidents.
In insurance, risk is defined by several basic concepts.
Firstly, risk is a specific phenomenon or a set of phenomena (an event or several events), in the case of which insurance is carried out and which have signs of the likelihood and randomness of occurrence. This definition is given in the Law of Ukraine "On Insurance" (2001). Expresses potential payout insurance compensation(sum insured).
Secondly, the risk is associated with a specific object for which the risk factors are determined.
Third, risk is the distribution between the insurer and the policyholder of the negative economic consequences in an insured event.
In general, risks are classified into two large groups:
1) insurance;
2) non-insurance (not included in the insurance contract).
The most numerous group is made up of risks that can be insured. To establish whether there is a certain risk to the insurance company, the following criteria are applied:
The risk, which is included in the amount of the insurer's liability, must be highly probable;
The risk should appear as accidental, that is, the danger should not be known either in space, or in time, or in size;
The occurrence of an insured event, which is expressed in the realization of the risk, should not depend on the will of the insurer or other interested parties;
An insured event cannot have the dimensions of a catastrophic disaster, that is, cover a lot of objects within a large insurance population, causing massive losses.
The aggregate of insurance risks is the amount of insurance liability under an insurance contract, which is expressed using the insured amount of the contract. The price of risk in monetary terms is estimated at the tariff rate, which is mainly calculated per 100 currency units of the insured amount or as a percentage of its absolute value.
It is worth remembering that the risk is insured, not what must inevitably happen. The list of risks covered by insurance must be strictly stipulated in the insurance rules.
With a probability, there is a 100% guarantee that a certain event will occur, and with a probability of 0, it can be argued that it is impossible to occur, and, consequently, that insurance is impossible in this case. The less the risk is, the easier and cheaper it can be to arrange for insurance. Significant risk probability implies expensive insurance coverage.
The conditions for the implementation of any risk are risky circumstances. All of them, in unity and interaction, determine the risk situation that characterizes the natural state of the insurance object and the environment in which it is located.
Risk circumstances allow us to assess the possibility of a certain event occurring in the future. However, only one or several risky circumstances lead to the realization of the risk, which means the occurrence of an insured event.
Insurance case- an event stipulated by the insurance contract or legislation, which took place, and with the occurrence of which the insurer is obliged to pay the sum insured (insurance indemnity) to the policyholder, the insured person or a third party.
An insured event can take place in relation to one or many objects of insurance within a certain insurance population (leads to the cumulation of risk, i.e. causes a catastrophic risk).
The main characteristics of risk that are of great importance for insurance are:
The frequency of occurrence of an event in relation to place and time - determines the degree of occurrence of insured events for one type of insurance or another. It is calculated as the ratio of the number of insured events to the number of insurance contracts or the number of insured objects for a certain type of insurance. The objects offered for insurance differ in varying degrees of danger. In practice, there are periods of time of a sharp increase in insurance risk, when the number of adverse events with negative consequences increases significantly;
The severity of the consequences (the amount of damage) is defined as the material damage caused to the policyholder as a result of the insured event. On the basis of the amount of damage (taking into account the insurance system), calculations of insurance compensation are performed.
