Insurance News – auto insurance, health insurance quotes

Russian market of crop insurance is characterized by number of essential features. First of all, it suffers risk of the raised unprofitability, including due to significant losses from natural cataclysms (a drought, a frost, a hailstones, etc.), secondly, absence of actual statistics on unprofitability complicates work – such statistics is not being carried out from the moment of general insurance system disintegration.
Today Russian Agriculture insurance develops in the context of «Spanish model», which overall objective stabilization of farmers’ incomes and involving them in risks management. The system of agrarian insurance in Spain is constructed on interest and, accordingly, interaction of three basic participants – agricultural manufacturers, insurance companies and government. Agricultural manufacturers are interested in receiving insurance protection at the minimal cost. Insurance companies wish to conduct insurance operations with sufficient profitability degree, and thus test the certain shortage of the necessary information and methodological development for work with agrarian sector. And the government, from its part, pursues the state interest, wishes to create conditions for stable work of national agrarian sector in order to protect the manufacturer at minimal public costs.

 

At session of the government on Thursday Russian Prime Minister, Victor Zubkov has scarified the project of strategy of development of insurance activity in Russia for 2008-2012, prepared by the Ministry of Finance of the Russian Federation. V.Zubkov has noted, that the document “has descriptive character”, which is not allowing to define an essence of problem questions and ways of their decision. Russian Prime Minister has told that the strategy lacked analysis of the domestic insurance market in previous years and also analysis of the international insurance market.
Prime-minister has turned Special attention to absence of the competitive environment, the analysis and also the information on the markets of the states WTO-members.
Zubkov has stressed that advancing growth in 2001-2007 has not considered the authorized capital of insurers with foreign investments in comparison with growth of the cumulative authorized capital of the Russian companies and the first ones have increased the capital in 14 times, the second ones- only in 5,7 times.
Russian Prime Minister has emphasized, that opinions of direct market participants and also results of work of control bodies concerning observance of the current legislation are not considered in strategy.
According to Zubkov’s words the strategy should be coordinated with the three-year federal budget until 2010.
 

Russian citizens become private proprietors. They get the increasing quantity of every possible property. Insurers like formation of a high-grade class of city inhabitants. They are ready to protect all…on the competitive basis.
The apartment, car, furniture and all rest – in such order is usually cost of property at the average Russian citizens is being estimated. Apartments and cars are already enough densely captured by insurance business.
What about furniture? It is also possible to lose because of a banal fire or theft. But it is possible to insurer it. Insurers very much love room property – they are ready to insurer not only furniture, but also utensils, computers, clothes, carpets, electro household appliances, audio-, photo- and video equipment, and also subjects of use.
The special approach, the truth, is being kept at jewels, subjects of art, antiques, a collection demand – it is necessary to confirm their cost and authenticity, and also to provide special terms of storage.
 

Insurance company “Moscow” insured JSC “Aeroflot – Russian Airlinesâ€? on a full package of real estate risks in Russia and abroad for the sum of 34 million dollars.
Besides, action of the employees’ insurance contract, who are being on short-term business trips abroad, and agreements on voluntary medical insurance of workers of foreign representations and members of their families, has been prolonged.
Also the contract of voluntary medical insurance of workers of foreign representations and members of their families is renewed for 2008. According to the contract, “Moscow” takes up payment of the medical services, foreign representations of Aeroflot, rendered to workers and members of their families.
Insurance company “Moscow” is created in 1993 and specializes on insurance of aviation risks, and it is also engaged in insurance upon accidents, property, motor transport and a civil liability of legal persons.
 

Since February credit broker Fosbourne Home will add functions of the insurance agent.
For this purpose the separate company – “Insurance adviser Fosbourne Home” has been created. After signing the agreement with the insurance companies of agency it will sell to clients policies of auto insurance (both second-hand and new cars), and in the long term – the products connected with the mortgage.
However, hypothec insurance is still being developed: the contract of life insurance, for example, can’t be signed without physical examination and brokers are not engaged in it.
It is expected that in the end of the year the company will sell 2 thousand policies a month, half of sales – in Moscow, the rest – in regions. Now the company works with three tens banks and plans to agree with all leaders of the insurance market.
It is not excluded, that in the near future insurance branch of the company will receive the license of the insurance broker and now the company will begin work as the insurers’ agent.

 

 

Rate of growth of the Ukrainian insurance market of will make 20-25 % and by 2010 will make nearby $2 billion, developing basically due to corporate insurance, which share in total amount of premiums will increase.
According to research backlog of the Ukrainian economic development from Russian makes about 3-4 years. But, tendencies of economy development are identical. The lead analysis has shown a number of factors, which define development of economy, the main role in which is played by the formed youth – in Ukraine and Russia this share makes about 23 %.
Development of insurance business in Russia is defined by consumer behavior of the population – ability to offer the consumer necessary service under the comprehensible prices and includes a number of stages. On a way of purchase of insurance service the insurant all over again should be frightened, then understand, that insurance service is necessary to it, the insurer should be reliable, and cost of insurance should be economically proved. Having passed these stages, the insurant becomes the happy owner of insurance policy.
The structure of insured risks of the population has not changed in 2006-2007 among which there is a risk of road accident, fire and a robbery of habitation. But, on the other hand, researches show, that within 2006 sensitivity risks among the population has noticeably decreased and it is connected with information policy of TV and mass-media which began to give less attention to violence. For the majority of people insurance becomes the basic tool of protection against every possible risk and the number of those people, who consider insurance as waste of money, decreases. So, comprehension of threat leads the consumer of necessity of a choice of means of protection and consumers will prefer insurance to other ways of protection only in case of the positive attitude to service.
The unique essential factor of growth of the market is updating motor-vehicle pools of the population and the enterprises.
The insurance companies have all some opportunities to affect consumer behavior. Elasticity of demand for service depending on its cost is the most essential factor. Within 2004-2007 interrogations of the population have revealed following interrelation – 50 % difference between quantity of the consumers knowing the insurance company and using its services, leads to that within a year the client base of the insurer increases approximately for 25 %. Besides, researches show that satisfaction of consumers with service in the insurance company can attract additional clients.

 

 

Research of rating agencies show that within the first half-year 2007 actively hypothec insurance developed in Russia.
According to agency, rates of growth of the given kind of insurance have exceeded 200 % in the first half-year.
AS results of insurance market research of Russia show, hypothec insurance grows in Russia has increased in two times.
In the end of the first half-year 2007 actives of ten largest insurance groups of Russia have grown on 17,29 % in comparison with the similar period of 2006. The total net profit of the insurance groups entering in top-10 of the insurance market has not practically changed.

 

 

The share of the Russians, using insurances, has grown from 37 % up to 46 %. Results of Russian interrogation in the context of the research project with National financial researches agency.
Using services of an auto civil liability remains at the former level in comparison with 2005 a level – about 20 % from the general number of Russians, but it has grown in absolute expression quantity of the automobile owners.
The quantity of Russians, taken advantage of insurance services of their cars from stealing and damage, has increased almost twice for these two years – from 3,4 % up to 6 %.
The percentage of people, who insured their property has grown from 7,8 % in 2005 up to 9 % in 2007. The share of the Russians who have issued paid voluntary medical insurance has considerably increased. So, if in 2005 the number of Russians, taken advantage of kind of insurance, made no more than 11 % and this year their number has exceeded 18 %.
Some Russians use several kinds of insurance services. According to the results of interrogation, almost 13 % of population use two kinds of insurance services and   about 5 %   are using three and more types of insurance.