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Aktuarnye accounts as a construction basis st rahovyh tariffs

Alignment and division of risks (a damage apportion) is realised by means of the underwriting rate. Representing the insurance instalment of the insured from insured sum unit, the tariff is defined by the insurer on the basis of expected set of objects of insurance and used for definition of the insurance instalment as the prices insurance protection y.

the Economic contents of the underwriting rate 188, with. 59] it is possible to define as a unit of measure of mutual obligations of the insurer and the insured accepted by them at the conclusion of the insurance agreement, pli, in other words, as expression of that obligation which ñ³ðàõîâùèê has accepted in relation to the insured in limits and on the conditions defined by the insurance treaty.

we will designate intrinsic features of the underwriting rate,

the categories of insurance caused by specific signs (tab. I I).

Table 1 1 of Feature of the underwriting rate

Features of the underwriting rate

² ²ðèìå÷ì³òå

tariff Appointment as tool of an apportion of a damage causes its structure.

the tariff includes a share sovokupnoju risk, payments \and service rendering. Thus, trpf eosjut §m a brave part and price. j

the damage Apportion has the closed character

the Tariff the damage Apportion in time settles up for zamknujuj insurance 1 sets

assumes distribution of insurance instalments

Formation of policy reserves, proceeding on ommm a cash bonus. An imprisonment term of the doctor of insurance and up.

the Principle of a reflexivity of means for payments to insureds

the Principle of a reflexivity of means is theoretical osnovo ³³ divisions of the tariff into the ietto-rate and na§rhzkch

In insurance practice the transferred features are shown through structure and tariff structure.

in the Russian practice the tariff model includes net-rate (including pure net-rate and the brave extra charge) and load - costs for management business, deduction in fund of precautionary actions and profit.

structure and tariff structure it is presented on fig. 9.

² ²à³ðóòêà

11ñ the ggo-rate

Pure

Brave

Costs on

Deductions

net-rate

the extra charge

business command

in FIM

1 ²ðèáìëü

the complete instalment (gross premium)

Drawing 9. Structure and tariff structure

gt;

the tariff Structure represents the relation of its separate elements to the general size. Studying and the analysis of structure of the tariff allows to supervise change of specific weight separate elemen tov.

the Characteristic of the underwriting rate and its structure is stated on the scheme 16.

the Tariff

the peril insured Price, adequate term of money of obligations of the insurer under the concluded insurance treaty.

the Tariff

Set of tariffs.

Tariff

a management

the System exposition of tariffs.

the Brutgo-rate

the Tariff on which the insurance treaty consists.

Net-rate

the peril insured Price, at the heart of non-delivery construction lays probability of approach of insured accident.

Load

Pays expenses of the insurer on the organisation and realisation of insurance business.

the Scheme 16. The characteristic of some concepts.

at the heart of account of tariffs [91, ñ.95] such essential signs of insurance, as the closed apportion of a damage and vozvrapjust the insurance payments intended for payment lay. At construction of tariffs should be considered [40, with. 152] laws of the big numbers, samples and risk divisions.

in the course of account of underwriting rates it is possible to allocate some stages. On the basis of studying of theoretical bases of construction of underwriting rates [88, with. 61] stages of construction of underwriting rates are presented by us on the scheme 17.

the Major problem of the second stage of account of the underwriting rate - by means of economic-statistical methods to define the nstto-rate. As the insurer conducts a number various under the contents and õàðàê³åðó the kinds of the insurance requiring adequate mathematical measurement of obligations taken under agreements, realisation aktuarnyh accounts is necessary. Aktuarnye accounts take the central place in activity of any insurer. Aktuarnye accounts represent process, in.hode which the costs necessary on insurance dannoju of object [28, with are defined. 71]. Aktuarnye accounts help to define the cost price and cost of the service rendered by the insurer to the insured.

Aktuarnye accounts - system of settlement methods [74, with. 154; 99, with. 57 |, constructed on mathematical and the statistical regularities regulating mutual relations between the insurer and the insured which reflects the mechanism of formation and an expenditure of means of a safety fund in the form of mathematical formulas.

Aktuarnye accounts are pursued by two main objectives:

1.opredelenie and the cost breakdown on insurance konkretnoju object, the cost price of insurance service. tariff account on a concrete kind to insurance, cost of the service rendered by the insurer to the insured.

the Stage

the stage Contents

1 ²ðïìñ÷àïïå

1st stage

Definition of a unit of account - separate object, âêëþ÷àñìî³ about and set

This unit can names, as pa§uralpy. tk and cost õàðàê³åð

2nd stage

Definition settlement (calculation unit) with use ekonomikostatisticheskih methods, definition of a brave part net-rate.

As a result îïðñäåäÿñ³ñÿ verojashyj the size of payments on insurance cumulative sh as a whole for the certain period of time. Brave chasi, net-rate should about ³ an item passion average âåðîÿãèîñ³ strahovo ¿ about events and specificity of each the client.

3rd stage

Studying koleblemosti risk. If necessary account and inclusion in the tariff of the brave extra charge.

next methods of definition of the brave extra charge Are applied:

the Method of probable payment (size, multiple srsdnsarifmsshchsskoj payments. A method of a dispersion.

a method standard î³êëîíåíïÿ.

4th stage

Formation net-rate.

To average óáü³òî÷ïîñ³ï ñ³ðàõîâîé the sums we are if necessary added the brave extra charge.

5th stage

Definition of modern cost of the future payments

Is made the norm account profitable §m in long-term kinds ñ³ rahovanaja

6th stage

Definition of the sufficient award (reflects the cost price of insurance operations but to the given kind of insurance, it is equal to the sum ispo-irsmpn and necessary costs of the insurer)

the Pas the given stage we are finished cost calculation cipaxoiu.ix operations

7th stage

Studying of necessity of addition to the sufficient award of various expedient extra charges.

More often as such extra charge serve rsjurey precautionary moromrijashj.

8th stage

Definition of optimum margin of profit which is mortgaged in a tariff and thus is formed the tariff-gross.

the Scheme 17. Stages of construction of the underwriting rate.

thus, among problems aktuarnyh accounts it is possible to allocate: - calculation of probability of approach of insured accident. a mathematical substantiation of necessary costs for management business both necessary surplus funds and forecasting of tendencies them we strike ³ pja, research and grouping of risks within the limits of the insurance! Sets (classification of risks).

the Methodology aktuarnyh accounts is based on use of-theory of probabilities, a demography and long-term financial calculations (130, ñ.39].

the probability Theory is applied because the sizes of a tariff first of all depend on probability of insured accident. The information on a demography is necessary for differentiation of tariffs in conformity e age of the insured. The methodology of long-term financial calculations in tariffs considers the fact of acquisition of income from a cash drawdown (instalments of insureds).

the Size of insurance instalments under the agreement is defined with the help aktuarnoj accounting. Aktuarnye accounts classify on kinds of insurance, territory and time - planned and accounting or the subsequent [91, with. 103], and also but to a hierarchical sign (federal, regional, accounts of a pas assurance company level).

Classification aktuarnyh accounts is presented on the scheme 18.

it is necessary to notice, that in property group in connection with the big fluctuations of risks the special extra charge for risk which usually is not estimated at aktuarnyh accounts on personal insurance is defined.

features of practice of insurance business which necessarily are considered at realisation aktuarnyh accounts are reflected in the scheme 19.

It is necessary to pay attention that at non-delivery definition in property insurance such factors, as probability of approach of insured accident consider, frequency ò³ weight of display of risk, the size of an insured sum of the agreement.

the rate of return in property insurance usually in attention does not start in view of its insignificance.

ÀÊÒÓÀв1ÛÅ ACCOUNTS

the Scheme 18. Classification aktuarnyh accounts.

Brave kinds of insurance can be divided into mass kinds and insurance of rare events and large risks conditionally.

the Characteristic of mass kinds of insurance, insurance rol k events and large risks is presented to tab. 13.

Analyzing bases of construction of underwriting rates, it is possible to come to conclusion, that for each kind of insurance (in a cut of branch of insurance.

podotrasli and an insurance kind) there are certain features of account net-rates. These features, first of all, are caused by specificity of insurable risks and objects.

proceeding from division of insurance into branches and insurance kinds, we will characterise features of account net-rates (the scheme 19).

' Table 13

the Characteristic of mass brave kinds of insurance, rare sobyshm

and large risks

the Kind

insurance

the Characteristic of a kind of insurance

the Note

Mass brave kinds of insurance

Is the kinds of insurance presumably covering significant number of subjects of insurance and perils insured, objects of insurance characterised by uniformity and insignificant disorder in the sizes of insured sums.

On the indicated risks with \shchssnpeg sufficient o'ch.em statistical data. Polite îä³ þðîä³ jus p, zastra hova mnih objects, averages znachennja and whole will is characterised, all set as a whole.

Insurance of Rare events and large risks

This insurance of the risks characterised by low frequency of approach of insurance events and the big possible size of a damage. The number of the objects which are subject to insurance, is limited, and the disorder of insured sums makes significant size.

At account of tariffs lean on statistical data for some years.

Personal insurance

the Property insurance and ³ðàæäÿèñêîé responsibility Brave kinds of insurance

Life insurance

Mass brave Kinds of insurance

Insurance of rare events and large risks

the Most typical kinds of insurance

Insurance on dozhitie,

on a death case

Personal insurance: insurance upon accident, medical costs; Some kinds of a property insurance

Insurance of industrial enterprises, apitsionnoe and space insurance, insurance on a case of natural accidents

Features of kinds of the insurance influencing account net-rates

the Element of chance It is connected with casual Character of life expectancy.

the big number of homogeneous objects and statistical data on them.

Insurance events occur seldom, the quantity insured obsktoi is limited.

features of account net-rates

For account ispolzu - jutsja data of demographic statistics, methods of Long-term financial calculations

Account of tariffs is carried out by statistical methods with use of average indexes

At account of rates trace time series for some tens has laid down

Recommended by Department insurance nadtora design procedures of tariffs

j «the Technique of accounts

²

; Underwriting rates on insurance kinds concerning to

I

I

! To life insurance »,

]

³ utver. The order ¹02-02/18 from 28.06.1996ã

« the Design procedure of tariffs on brave kinds of insurance », confirmed by the order ¹ 02-03-36 from 8.07.93ò

the Special technique is not present.

the Scheme 19. Classification of kinds of insurance from the point of view especial ³ to it of account of negto-rates

I

On the basis of the above-stated, it is possible to draw following conclusions: Process of construction (account) of underwriting rates it is possible we will divide, on stages. The central place in the course of construction of underwriting rates belongs to nepo-rate account with the help aktuarnyh accounts. Analyzing bases of construction of underwriting rates (the scheme 19), it is possible to come to conclusion, that for each kind of insurance (in a cut of branch of insurance, podotrasli and an insurance kind) there are certain features of account net-rates. ’) iè features, first of all, are caused by specificity of insurable risks and objects. Reflecting on features of construction of underwriting rates in insurance of financial risks, it is possible otmstit the following:

- the final tariff offered the insured, should and, is individual (orientation to a risk average level is dangerous to financial soundness of an assurance company);

insurance should be whenever possible effective, this, it is favourable both to the insurer, and for the insured;

at account tariffs should be corrected with allowance for structure and structure of a portfolio of risks of the insurer.

On risks it is possible to influence various methods (ïàðà³ðàô 3 chapters 2). On production precautionary actions for risk decrease, and also actions for decrease in scales of a possible damage, first of all, are carried out. To define the list of precautionary actions for decrease in risk which are necessary for carrying out, first of all, rather simply as there are certain technical specifications, rules. However then inevitably there is a question on methods of the further fall of a risk level.

we will consider methods of effect on risk - decrease, insurance, self-insurance.

decrease in risk requires introduction of safe technologies and materials, improvement of monitoring systems, insurance - payments insurance! Awards, self-insurance - deductions in a surplus fund.

thus Final effect from the given measures it is possible will evaluate but degrees of indemnification or removal of eventual losses in the future 1136, with. 152 |.

If to correlate expenses for risk management and degree of decrease in anticipatory damages it is possible to receive an estimation of efficiency of measures on risk management.

from the point of view of the general stability of the enterprise it is possible to evaluate also efficiency of various management methods risk. 1 ²àïðèìåð, in a situation when the enterprise invests money resources in more perfect equipment or technology. For decrease in risk such method, as insurance more approaches.

the matter is that since certain level, a pas expense direct decrease in risk [119, with. 504] grow faster rates, than ñíèæàå³åÿ risk. Thus, increase of reliability of a pas of 1 % requires za§ra g more than 1 %.

Such method of effect on risk as insurance it is convenient first of all that expenses for insurance, as a rule, are proportional to volume of risks.

thus, since certain level of decrease in risks, the economic subject has a necessity of a comparative estimation of various methods of effect on risk and a choice of best of them.

Allocate [42, with. 10] two approaches to development of criteria:

critical parametre which should not leave for admissible limits,

economic criterion (economic gain).

the First approach leans against availability of certain specifications of safety.

the second approach assumes, that such methods as insurance and self-insurance are directed on damage indemnification. 1 ²îóãîìó it is comparable, them with other methods probably in the event that as criterion any financial indexation, for example, the limiting extent of damages conducting to ruin of the enterprise or rate of return per unit of expenses acts.

as application of any of management methods risk leads to redistribution of monetary and financial streams of the enterprise it is necessary to notice, that quality of criterion of economic efficiency of application of management methods risk it is possible is used, an estimation of their influence on change of cost of the enterprise calculated for the beginning and the termination of the financial period.

for the investment project as criterion influence of management methods by risk on change pure flowing ñòîïìîñ³è íðîåê³à can serve.

we will carry out the comparative analysis of efficiency financial

insurance and self-insurance mechanisms, using a method which has received the name in the western literature [51, with. 29] «a method the House ³îíà». Sumy, method consists in an estimation of influence of various methods of risk management on «enterprise cost», that is cost of its free (pure) assets. Free assets - a difference between size of all akshvov the enterprises and its obligations.

when the enterprise makes the decision on insurance or self-insurance enterprise cost varies, a hook as expenses of a pas insurance and self-insurance reduce money resources or akshpy which the enterprise could napravi t for profit taking.

we will assume, as insurance, and self-insurance equally cover risk of losses from a damage.

we will enter following designations:

Si - cost of the enterprise in the end of the financial period mri insurance,

S - enterprise cost in the beginning of the financial period,

R - the size of a cash bonus, g - average yield of working assets,

Sr - cost of the enterprise in the end of the financial period at completely saved risk,

L - expected losses from considered risks,

F - size of a surplus fund of risk, ³ - average yield of assets of fund of risk.

the comparative analysis of insurance and self-insurance is presented to tab. 14.

we Will allocate a condition of productivity of insurance at the enterprise.

insurance application at the enterprise will be effective, if cost of the enterprise in the end of the financial period at insurance is above, than at self-insurance application.

thus, the following condition should be observed:

Table 14

the Comparative analysis of insurance and self-insurance

Insurance

the Enterprise in the beginning of the financial period pays the insurance instalment and guarantees thus indemnification of losses in the future. Cost of the enterprise in the end of the financial period we will express the formula;

Si = S - R + r (S-P) (2)

Thus the size of losses does not influence on | enterprise cost as they

³

are compensated from insurance

reimbursements.

Samos ³ðàõîâàíèå

1 ²ðñäïðèÿòèå completely saves own risk of m ôîðì³ ³ðóñ³ a special surplus fund - risk fund. Cost of the enterprise in the end of the financial period we will express the formula:

SR = S - L + r (S - L - ³ ³ G (3)

At self-insurance the enterprise òåðí³ì losses straight lines (annual ³þ³ñðï I,) and indirect as means SHOULD be directed to surplus fund G for indemnification maintenance ubygkov. Assets are stored in a surplus fund in more liquid form, therefore bring in the smaller income.

using (2) and (3), we will receive:

g - ³

R lt; Lcp + F, (4)

1 +ã

where Lcp - average expected losses.

proceeding from the received inequality, it is possible to define as much as possible admissible size of a cash bonus.

we will consider the basic laws for sizes 1ëÐ and 1 ’.

For a correctness in the formula it is necessary to use the significance of expected losses LcP led to the beginning of the financial period. As to indicator F it is necessary to start with following reasons. Money resources from this fund are used by the enterprise to a Czech of a time, will not be necessary yet for cover for losses. If the effective! ' ÷gt; uses of fund of risk it was equal to productivity of industrial assets (that is g = ³) the condition of efficiency of insurance would never be observed to be insured it would be unprofitable. It follows from strukch ury the underwriting rate as into it enter, besides size of averages ubpkov costs for business management, profit and a reserve precautionary meroirijashja. Then insurance always would be less economic, than self-insurance.

however practically always g lt; ³ as assets in risk fund are stored in more liquid form (hence in less profitable). Proceeding from the above-stated, there is an area of significances of variables at which insurance will be more favourable mechanism, rather than self-insurance.

the size of fund of risk we will define according to subekch ivnoj an estimated risk the insured as as much as possible comprehensible level of the loss Then the definitive variant of a condition of economic efficiency of use of insurance follows:

g - ³

R Lcp "I" Lmax, (5).

1 + G

the Given inequality defines size of a cash bonus as much as possible comprehensible to the insured, proceeding from properties of insurable risks which are described by parametres LcP and Lmnx.

on

«

Zpachshelnyj

As the risk is defined by two major factors probability of adverse event and in the size of a damage, we will graphically represent on the simplified scheme possible combinations of factors of a brave situation (the scheme 20):

Level

the Size of a damage

Probabilities

neznachitel nyj

Average

Low

+

Average

+

High

+

+

nbsp; nbsp; nbsp;

the Scheme 20. Factors of a brave situation

Considering the above-stated, it is received, that the mechanism of insurance for the enterprise is reasonable for using at any probability of a damage, if the size of a damage average or significant. If the size of a damage is small. To be insured it is inexpedient.

if to recognise that large financial streams are characteristic in ¦ bolshej degrees for the large and average enterprises it is possible it is made,

a conclusion about necessity of insurance protection, first of all, krupn ³, ¿ h and the average enterprises (as for such enterprises is not peculiar the small damage).

the Analysis of an inequality (5) allows to draw following conclusions: Self-insurance is especially effective, than it is less the fund of risk formed at the enterprise. Efficiency of self-insurance decreases in process of increase in yield of the enterprise and grows with increase in yield liquid highly reliable invest itsy.

we Will pass to consideration of efficiency of insurance from the point of view of underwriting rates. For this purpose. We will designate concept contours «the tariff policy of the insurer».

the Tariff policy - purposeful activity of the insurer on an establishment, clarification, streamlining and differentiation of underwriting rates in interests of insureds and break-even development of insurance.

it is traditional [117, with. 277] allocate following principles of a tariff policy: Equivalence net-payments and payments of insurance indemnity of m of insured sums. It assumes, that net-rate on each kind of insurance there should correspond as much as possible probabilities of a damage. At fulfilment of the given condition the reflexivity of means of a safety fund for that set of insureds p for such tariff the period proceeding from which have been calculated tariff pet go-rates is supplied. Availability of the sizes of underwriting rates to the basic weight! Insureds. Overestimate of underwriting rates constrains insurance development. Insurance payments should make such part the income, and insureds which is not for it burdensome. At accessible underwriting rates the greatest efficiency of insurance is reached. Stability of the sizes of underwriting rates. Gels tariffs remain invariable within years, grows av burns with g st rahovshchika before insureds. Even when indicators of unprofitableness of an insured sum as bases corresponding tariff net-rates ñíèæàþ³ñÿ, insurance cover expansion is expedient in interests of insureds at invariable tariffs. Increase of tariffs is admissible only as a last resort when it is impossible to stabilise other ways growth of indicators of unprofitableness insurance! The sums. Aspiration to insurance cover expansion. At stability of tariffs observance of the given principle we are a priority direction of an insurance policy of each insurer with the purposes of the maximum satisfaction of interests of insureds. Maintenance of self-repayment and profitability of insurance operations.

the Indicated principles are supplied with corresponding tariffs. Tariff net - rates should guarantee a recoupment, and a load part to net - to the rate can be a planned source of profit taking of the insurer. If in favorable years we are formed actual economy in net - rates, it should be directed on formation of spare fund of the insurer, neobhodimoju for insurance indemnity payments in extreme years, and at stable õàðàê³åðå this economy expansion of volume insurance ofïñòåòâåïíîñòè but to corresponding kinds of insurance is possible.

One of the most difficult engineering problems | 132, ñ.2 () | in mraktke the insurance business, connected with tariff account, is definition of an optimum level of an individualization of the tariff.

in theory insurance depending on degree uchega individualnoju risk it is known [88, with. 72] the average, differentiated and individual tariff.

the average tariff is applied, when insurer specific features of the objects which are subject to insurance and also if the insurer has no the sufficient information on a risk level and the features of object included in insurance set do not interest. The average tariff is expedient for applying at a stable loss ratio of an insured sum.

the differentiated instalments - classified but to separate brave signs instalments.

the underwriting rate which half-notes yo corresponds to size of risk separate strahovoju object is individual. The corresponding statistical information is necessary for account of the individual tariff.

it is necessary to notice, that orientation of tariffs to an average risk ïðèâîäí³ to what to conclude dogovory insurance there is favourably than to the insureds, which individual risk above an average. In ch'pkoj situations when the insufficient individualization of underwriting rates is observed, payments can exceed payments. For the Russian insurance market the individualization problem schrahovogo the tariff is actual and after this put.

in our opinion, it is necessary it is used, the following reception: the tariff to expect on insurance set as a whole, but for the purpose of an individualization with the course of time it is corrected, it according to results of passage of the given insurance.

complexity of definition of the individualised tariff under the agreement largely "pays off" a positive effect of its application. It is necessary to underline, that possibility of account of the tariff, adekvamjugo to obligations of the insurer, it is largely defined by availability of corresponding information base.

in our opinion, interesting the point of view ' a pas efficiency of insurance when as efficiency of realisation of insurance it is understood «is represented... A situation when both participating parties the insurer and the insured - receive an economic gain from the conclusion of the insurance agreement in comparison with a situation when this agreement has not been concluded».

In this case the economic gain of the insurer consists in ³îì, that the instalments received from insureds should be enough for formation of safety funds, the reimbursement for business and profit taking management. The economic gain of the insured consists in that.

1 Nikolay Hohlov. Forecasting of efficiency of insurance from the point of view of the businessman Insurance Business. - 1998. - ¹ 7.-s41.

to supply to itself an additional source of money resources in sl\May if insurance event occurs (will arise losses) and at the same time not to distract significant means, not to lower profitableness of business.

proceeding from the analysis of the insurance market [11, C.58J, on brave kinds of insurance between the sum of the paid insurance instalments and the sum of received indemnifications the parity makes a parity 3: 1, that is on 3 roubles of the paid instalments it is necessary 1 rouble of indemnifications!. The given situation allows the insurer to supply (ô³íàíñîâóþ stability, and also to cover catastrophic losses.

the insurer at construction of the tarifno ¿! Zeroes weave should consider a condition of the portfolio of risks, ñïgt; structure and ñòðóê³óðó as the tariff policy influences its financial soundness.

Financial soundness of insurance operations we are characterised by deficiency of means or excess of incomes over costs of the insurer as a whole on a safety fund [91, with. 132]. Degree of probability of deficiency

means is defined V.S.Konypina's by factor:

(1-Ò)

(n* T

where l - number of the insured objects, units,

T - average tariff st avka but to all st rahovomu ïîð³ôåëþ.

The more low this factor, the ustojchivee insurance operation. Thus, a necessary condition of financial soundness we are the conclusion of the big number of insurance treaties.

it is necessary to notice, that the official technique (Department of insurance supervision) is constructed with allowance for safeguardings interests of assurance companies. As a technique basis the principle of maintenance of financial soundness of the insurer serves, thus are not considered financial interesy insureds.

now large assurance companies ãîòîâ³é to a competitiveness also aspire to promulgate design procedures of underwriting rates.

opening of the Center of the insurance information ’ (TSSI) one of these days has taken place. Its founders - the journal "Expert", VSS, KonfOG ², Office of economic analysis and Institute of the insurance information of the USA (Insurance Information Center). The agreement on partnership with the Center six largest companies - «the Alpha have signed Insurance», the Military-insurance company, ² ²àöèîèàëüíàÿ insurance group, the Industrially-insurance company, ROSNO and OST "Consent". The partnership, in particular, provides, that insurers will promulgate design procedures of underwriting rates. Till now anybody from insurers did not admit «an eye of insureds» to account of tariffs - svja ³àÿ sacred this business. One business cost of "typical" policies, absolutely drmos - the real price which the insured pays. Just at the agreement conclusion, behind the closed doors, also the real competitiveness is developed, will be involved confidential workings out of experts in marketing and aktuariev. Now a pas site TSSI «the insurance calculator» will be created. From the beginning of next year the potential insured can calculate insurance cost at once on the several companies and thus to be assured, that the policy price is real.

having signed the agreement with TSSI, six assurance companies declared than most, that are ready to an open competitiveness.

it is necessary to notice, that external factors considerably influence ma the size of the underwriting rate.

now in the insurance market worldwide [VII] insurers raise tariffs - after acts of terrorism in the USA. In property kinds of insurance growth of tariffs also is predicted.

the principal cause of increase of tariffs consists that foreign insurers wish to pay the damages connected with acts of terrorism in the USA.

Thus, there is a situation when large foreign insurers will shift losses on all insurance market. Tariffs and in Russia will raise. Largely the ego will concern not kip.ko aerospace risks, but also principal views of property insurance.

carried out in this paragraph of research has allowed to draw following conclusions: Insurance, acting as one of management methods risk, is the financial mechanism of compensation of a damage, indemnification of losses. We carry out the comparative analysis of efficiency of mechanisms of insurance and self-insurance on algorithm of method Hausgona, proceeding from influence of insurance and self-insurance on enterprise cost - cost of pure (free) assets economic ñóá'üåê³à. On the basis of the received economic-mathematical model us rasschtano nine variants of a brave situation, proceeding from characteristic properties of any risk - probability and the size of a damage. With allowance for the received results have revealed brave situations when it is favourable and is unprofitable to carry out insurance. It is received, that the mechanism of insurance for the enterprise is reasonable for using at any probability of a damage, if the size of a damage average or significant. If the size of a damage is small, to be insured is inexpedient. If to recognise that large financial streams are characteristic in bolshej degrees for the large and average enterprises it is possible to draw a conclusion on necessity of insurance protection, first of all, the large and average enterprises (as for such enterprises is not peculiar the small damage). Self-insurance is especially effective, than it is less risk fund. Efficiency of self-insurance decreases in process of increase in yield of the enterprise and grows with increase in yield of liquid highly reliable investments. As to efficiency of insurance from the point of view of underwriting rates, it is necessary to note the following:

Principles of a tariff policy assume equivalence of insurance instalments and insurance indemnity payments, availability and stability of underwriting rates for insureds, aspiration of the insurer to expansion of insurance cover and maintenance of profitability of insurance operations. In our opinion, the problem of degree of an individualization of the underwriting rate should be decided by means of updating bazovoju the underwriting rate depending on individual osoben íîñ³ to it the insured. With allowance for the above-stated, it is represented reasonable to define underwriting rate border by a technique confirmed

by insurance supervision, and the tariff to apply to each insured individually, using various correction factors with tse.chyo the account of specific features of the insured. Thus, insurance will be effective as it will be favourable both to the insurer, and for the insured.

<< | >>
A source: TUKMAKOVA DARYA PAVLOVNA. FINANCIAL RISKS And THEIR INSURANCE. The dissertation on competition of a scientific degree of a Cand.Econ.Sci. Kazan - 2002. 2002

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  10. 2.4. Toolkit of construction of difficult optional products on the basis of usual exchange options
  11. 2.1. Politiko-legal principles as a basis of construction of system of law-enforcement service of the Russian Federation
  12. §2. Expert problems as the basis of construction of classification of expert testimonies in court
  13. §1. Object of expert research as the basis of construction of classification of expert testimonies in court
  14. A.Koeffitsient oborachivaemosti accounts payable