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Forms of mutually taken obligations reinsurance contracts are subdivided on:
- facultative (unessential);
- obligatory (obligatory);
- facultative-obligatory, or “the open covering � contracts.
Facultative reinsurance contracts were the earliest form of reinsurance contracts. Such contract represents the individual transaction, concerning one risk. Its distinctive feature is that as reinsurer has the opportunity of individual estimation of risk to the overcautious person: reinsurer - in the decision of a question, how many it is necessary to leave in own risk (own deduction), and to the overcautious person - in the decision of questions of risk acceptance in certain sum. The negative party of facultative reinsurance is that reinsurer should transfer a part of risk up to the conclusion of the contract with the insurant. By virtue of it the overcautious person has a small time interval for the detailed analysis of received risk.
The contract of obligatory reinsurance obliges the reinsurer to transfer the certain shares to all risks accepted on insurance if their general insurance sum exceeds certain in advance own participation (guarantee) of the insurer. On the other hand, this contract imposes the obligation on the overcautious person to accept the shares of the offered risks. Such kind of the contract is most favorable for reinsurer as all in advance certain risks automatically receive insurance maintenance at the overcautious person.
The facultative-obligatory (transitive) form of the contract gives the reinsurer decision-making freedom: concerning what risks and in what size it is necessary to transfer. In turn the overcautious person is obliged to accept shares of risks on in advance stipulated conditions.

Reinsurance is one of insurance kinds and the major mechanism on risks redistribution. Reinsurance allows to compensate fluctuations and to reduce damage potential. It is a system of economic relations according to which the insurer, accepting to insurance on them (in view of the financial opportunities), transfers risks, a part of the responsibility on the coordinated conditions to other insurers with the purpose of creation of whenever possible balanced insurance portfolio, financial stability maintenance and insurance operations profitability.
How does it work? Let’s consider the certain insurance company working in the certain region. In current period the insurance company regularly carried out of the obligations. But suddenly powerful downpours have fallen upon region; the rivers have overflown banks and have flooded practically all. During one moment the sums on payments have exceeded the insurance fund and the company was not able to pay them.
Now we shall assume, that understanding this problem, the company has reinsured the risks in the large Russian company, working in all territory of Russia. In that case, the regional company will pay only a part of the sum, and the rest will be paid by the large company for which this payment will not be catastrophic as it insures not only the given region.

Insurance of financial risks is a unique opportunity to return money, invested into the construction, in case of failure of obligations from the building organization.
The most widespread kinds of infringements from the builder are double sale of apartments relies in numerous carry of terms of input of the house to operation down to a suspension of construction.
Under the contract insurance case is default by the Counterpart (the building organization, cooperative society …) of financial obligations regarding return of the money resources paid by the Insurant according to the contract, in case of its cancellation by the Insurant owing to following events:
Delay by the counterpart of the term of input of apartment house established by the contract to operation more than for 6 (Six) months.
Not maintenance with the counterpart of registration of the property rights of the Insurant on an apartment within 6 (Six) months from the date of signing the certificate.
The insurance company, can sign the contract for the term from 2 till 5 years (better that the contract of insurance blocked terms of construction for 1-2 quarters).
Insurance of investment risks in share construction costs from 1,5 % from the sum of insurance and above - depending on validities of the contract, a degree of readiness of the house and reliability of participants of building process.

 

It is a complex of the programs, allowing securing you from contingencies during trips far abroad. The policy of travelers’ assurance will provide to you with reliable protection against a wide spectrum of risks, since expenses for treatment and finishing with civil liability, loss of luggage and even a canceling of trip.
For going abroad tourists the insurance program can provide insurance of medical and transport charges for the period of travel abroad, insurance of luggage, insurance of a civil liability and insurance upon accident.
The insurance sum under the policy can deviate from 15 up to 100 thousand US dollars.
There are special insurance programs for fans of scuba diving or winter kinds of sports.
Green card is a program of insurance of a civil liability for the motorists leaving on own for car. The insurance acts on territories of the countries-participants of a bureau Green card. Becoming the participant of the program, you will secure yourselves against troubles on roads during travel.
According to your desire validity of insurance policy can vary from 15 days till one year.
Depending on a direction of a trip, you can choose one of variants of policy validity:
• All the countries Green card-participants 
• European Union countries
• Countries, which are not entering into the European Union
• Belarus, Moldova and Ukraine.
 

These are the insurance programs owing to which, your favorites can receive veterinary service (by analogy to medical insurance of people), and you will be relieved of financial losses if something bad will happen to your with your pet. Pets’ insurance programs allow insuring house dogs, cats, birds, fishes.
Voluntary animals insurance - is a veterinary service for your pets and insurance in case of their death, loss or illness (animals insure in case of illness, and also death or theft from places of constant stay).
• animals’ insurance at transportation in case of their sudden death;
• animals’ insurance at their export abroad in case of trauma or disease with veterinary services expenses compensation;
• insurance of the responsibility of animals’ owners - insurance of owner’s duty to compensate the harm caused by its pet to health or property of the third parties.
 

Strictly speaking, the insurance broker is an intermediary between the insurant and the insurer. The agent is also an intermediate link, but he works for the insurance company and operates in its interests. And here the broker - is the intermediary right in the sense that though he offers insurance services, he is not connected by labor attitudes with the insurance company. His problem consists in business attitudes between two irreconcilable camps.
In practice the insurance broker is the representative of the insurant. He helps to pick up the company, which meets the requirements of the client, and individual variant of insurance. If the price plays the most important role for you, the broker will find the cheapest insurance. And if you are concerned about the quality, he will explain you comparative advantages of insurers’ offers. Usually brokers are in contact to tens insurance companies, therefore, you should not waste time and ring round insurers looking for the best variant.
Activity of brokers is not limited to sale and selection of insurances. Actually, the essence of their work is a support of the client on all extent of contract validity. And if it is done independently (having wasted a heap of time and nervous cells) it is all the same possible to find the digestible insurance and you will receive the policy and nothing else. You should understand disputable situations from the insurance company in fair, but unequal to fight. it is not a secret how insurers do not like to leave money. For this purpose they have rich arsenal of the most refined receptions and staff of the most tempted lawyers.
The broker, first, will try, using communications in the insurance company, not to lead up a situation to a critical mark. And if the conflict occurred - he will give to you a legal aid.
 

British insurers warn: travel to South Republic is dangerous to your property. A robbery in this country is not a rarity, including with application of the weapon, and suitcases often do not reach hotels - they are being stolen on road. In Czech Republic the record quantity of pocket thefts is fixed. Mountain skiers are most of all traumatized in Austria, and people more often suffer from allergy - from stings of poisonous insects in the countries of Caribbean Region.
Experts from company Norwich Union Travel Insurance, engaged insurance of travelers, have analyzed more than 60 thousand complaints of tourists for 2005 and have come to conclusion: Thailand is the most dangerous resort.
There, as British newspaper Daily Telegraph writes, travelers can collide with such troubles, as food poisoning, larceny, accidents and loss of property. At the same time Ireland, Belgium, Holland, Germany and France are the safest places for vacation.
Let’s notice, that not so long ago magazine Forbes has made the list of the most interesting and attractive resorts of the world. In it, alongside with resorts of islands Anguillas and Maldives, Thailand is recognized as the best vacation spot for fans of cheap tourism.

Shares of British insurance company Prudential have fallen in price on 3 % in spite of the fact that financial parameters, reached by the company in the first half-year, corresponded to analysts’ forecasts. According to the data, published by the company, in the first half-year 2006 the net profit of the insurer has grown on 50 % - up to 449 million pounds sterling (834 million dollars) in comparison with 300 million pounds sterling (557 million dollars), received for first six months 2005.
The share tenders in the USA have come to the end with downturn of leading indexes on the background of corporate news concerning financial reports of insurance company Aetna Inc., chemical concern Dow Chemical Co. and data about a delay of release on the market of new operational system Windows Vista from company Microsoft Corp.
Stock quotes of the third on size of American insurance company Aetna Inc. have decreased on 17 % after data about decrease in net profit on 1 % in II quarter 2006 - up to 389,5 million dollars on the background of costs’ growth, connected with medical insurances service.

 

 

The president of Association of insurers of Armenia has complained to journalists that consular services of some the countries of the Europe subject to discrimination measures of the Armenian insurers.
He has named embassies of Germany, France and in some cases of Italy as an example.
According to his words, since last January some clients of the insurance companies of Armenia have started to address to insurers at whom they have got policies from accidents and sharp diseases. They complain that embassies of the Schengen zone refuse to recognize the validity of policies and require get policies of the foreign companies for reception of the entry visa.
According to the president of the Association, similar requirements have not only material, but sound mental cruelty, undermining the development of the insurance market of Armenia.
Recognizing some lacks of work of the national insurance market, president of the Association has told about new contacts between insurers of Armenia and the European countries.
President of the Association has declared that the new practice of non-recognition of policies of the Armenian insurance companies by consular services of the countries of the Schengen zone is included into the full contradiction both with the purposes of development of economy of Armenia, and with the current legislation of Armenia. In particular, as the chapter of association has noted, the Law on insurance and the Civil Code of Armenia forbid sale of policies of the foreign states and those not licensed organizations, which sell them today to these embassies, actually fall under action of the Criminal code.

 

 

 

 

Aon Corp’s experts believe that this year the companies, rendered services of insurance to airlines, will suffer losses for the first time since 2000. Agency Bloomberg shows the data of the monthly report of the company and proves that the sum of insurance claims will make not less than $1,53 billion in 2007 in comparison with premiums at the rate of $1,46 billion. Last year insurers have collected premiums for the sum of $1,69 billion, in 2005 - $2,04 billion.
Reduction of premiums is caused, in particular, by falling of the prices because of competition increase. As the head of a department of aerospace insurance Aon marks, the aviation branch is still much safer, than was ten years ago, that has led to essential reduction of premiums in January-September of this year. Aon takes the second place on size in the world among insurance brokers (after Marsh McLennan Cos.), and it is engaged in management of risks and consulting.