Insurance News

According to the insurance companies, in this season similar policies are bought 2 times more often, than earlier. Thus at trip abroad policies, which insurance sum does not exceed $10 thousand use the greatest popularity.
According to insurers, tour operators insist on inexpensive insurance as it reduces the price of cost of trip as a whole. But for the tourist the cheap policy can appear insufficient as it has a set of exceptions.
In Turkey, for example, medical services for last year have risen in price in 2 times, and cost of insurance policies essentially has not changed. Cases of the unfair attitude to the ill tourists from the personnel of hotels have also become frequent. The victim can direct to clinic which will demand payment by cash or will refuse cooperation with the insurance company. Therefore in emergency situations it is recommended to contact first of all with the assisting company, which phone is specified in the policy.

Reinsurance broker Martin-Martin sig.ve reasurans brokerligi ticaret (Turkey, Istanbul) has opened representation in Ukraine, which is based in Kiev.
As “Ukrainian News” transfer, Martin-Martin sig.ve reasurans brokerligi ticaret specializes on granting of intermediary services in sphere of insurance.
In Ukraine the broker has received the status of financial establishment and has brought it in the corresponding register on November, 13th.  On April, 23rd, in Ukraine it has been registered 64 insurance and reinsurance brokers.

Financiers give less than credits, which also enrich insurers. Policies’ sellers incur losses and do their best to attract clients. The beginning to credit recession was put with last year’s financial crisis in the USA and Europe: the Ukrainian bankers were refused in foreign loans because of what they had to curtail crediting in currency. And now National Bank of Ukraine, trying to moderate activity of buyers and to bring down a rise in prices, has toughened rules of crediting and has raised cost of loans. Therefore now banks’ credit departments are empty as never before.
Together with bank clerks insurers also face a lot of problems: autoinsuranse, real estate credit insurance and a life insurance is on hardly sale. Director of the Ukrainian insurance group has recently noted that the rates of credit’s sales fall the same as demand for corresponding kinds of insurance falls. On results of May they expect for falling sales under the auto insurance on 10-20 %, because of decrease in crediting.
The damage can be even greater. In May 40 % from planned losses will be provided by losses, connected with the fact that some banks have stopped financing, and other banks under different pretexts refuse to clients, and the third ones finance credits, but under very high rates. Such decrease in sales will also affect insurers.

Today Insurers already state satisfaction concerning expected annual results: 20-30% growth of premiums - it is preliminary forecast of classical insurance market development within the last year (on results of the first half-year, the volume of the collected premiums has on 28% exceeded similar parameter in 2006). According to experts’ estimations, current year also promises good growth. According to insurance company Allianz, in following year classical insurance market will put on weight 40-50 %, and in absolute parameters it will reach $1,8-2 billion.
Life insurance companies show even more impressing results. The gain of premiums by results of the first half-year has made 67 %. According to national manager of Grawe Group in Ukraine, unlike venture capital market, where approach of a stage of achievement of critical weight minds of consumers concerning necessity of insurance and its advantage has already settled down, in life insurance this effect is late a little and will come little bit later. Accordingly in 2008 rates of growth of life insurance market will be essentially higher, than classical.
Also the tendency of the last years - reduction circuit insurance will proceed. It is caused by active demand for real insurance services and toughening of insurance branch regulation, directed on reduction of tax optimization. Thus, in total amount of insurance payments the share of financial schemes will decrease up to 40 %.

The bureau of insurance histories can lower a level of insurance swindle, but for this purpose it is necessary, that interest to information interchange was shown by the largest players of the market
For example, two years Andrey and Sergey Maljuginy have received from insurers 12 thousand dollars for a heap of unnecessary scrap metal. The father and the son traded in that beaten machines then made out the annual policy of Obligatory insurance of automobile owners. Then speculators dramatized road and transport incident, showing to inspectors and the centers of examination crashed cars, and necessary documents - to the insurance companies. In total the swindlers have about eighty similar schemes of illegal insurance payment reception. And as soon as market develops, the schemes become more complicated and improved.
In order to struggle with swindle, information interchange between insurers is necessary. So, last week in Ukraine the first specialized bureau of insurance histories - representation of the Russian company Bureau of insurance histories, which renders the services in our market through consulting group “Business-Guarantor”, has started to work on a commercial basis. Unlike bureau of credit histories, which also tried to offer the insurance companies services, the specialized bureau has caused interest in market participants. However, it is not the fact, that it will be transformed into real cooperation. The matter is that the competition compels insurers to concern cautiously in disclosing information on their clients.

Insurance fund is the main attribute of insurance medicine. It is formed due to obligatory deductions of wages working, deductions of employers’ profit, state grants and welfare funds.
Hospital cash departments
The previous Minister of Health of Ukraine has come out with the assumption, that 2-3 years will be required for introduction of insurance medicine in Ukraine.
Figures
It is planned, that in a year 15,573 billion UAH will be spent on maintenance of medical insurance.
In Ukraine already the first experiences of application of insurance medicine appear. Hospital cash departments may be considered as one of its prototypes. They quite successfully work in many cities of Ukraine. But it is the form of voluntary medical insurance. If to speak about obligatory medical insurance, it is worth of mentioning that talks on its necessity have started already in the beginning of 1990 - so long before occurrence of 49-th clause of the Constitution, Ukraine guaranteeing to all citizens free-of-charge health services. In 2002 the first bill about the state social medical insurance has appeared. Later six more bills, offering to enter obligatory medical insurance, have been submitted. But all of them have remained just projects. Next, these days already the eighth bill On obligatory state social medical insurance has been registered. On the basis of Fund of social insurance on time loss of working capacity the project offers to carry out services of obligatory medical insurance. Introduction of an innovation is planned for January, 1st, 2009.
Expenses for rendering of medical services will be guaranteed by the employer (4,2 % from fund of a payment) and local enforcement authorities, and clients will pay insurance payments regarding a covering of expenses for material maintenance and social services of the Fund.

What is insurance medicine?
Treatment, even in the developed countries, is quite expensive and not everyone can pay for it. In order to make it more accessible institute of insurance medicine has been created.
The insurance medicine is a form of public health services organization, which provides obligatory state insurance upon illnesses in combination to private medical practice and private medical institutions. Such system of the organization of medicine allows putting a payment of medical staff and incomes of medical establishments in direct dependence on quality of treatment and diagnostics. And thus, from the financial point of view, reception of qualitative medical aid is accessible to the majority of citizens.
The insurance medicine means medical insurance which, in turn, can be obligatory or voluntary. The world practice confirms that a basis of insurance medicine is obligatory medical insurance. Its purpose is to guarantee reception of medical service due to the saved up means in the insurance case.

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.