Property insurance of legal entities. Features of property insurance for legal entities Not accepted for insurance for legal entities
Property insurance for legal entities includes several related types of insurance, which are united by the object of insurance - property owned Insured, accepted or transferred into trust management, rent, leasing, pledge, storage, commission, sale, purchased on credit and serving as security for this loan.
Geopolis SO LLC carries out property insurance for legal entities on the basis of the License of the Federal Insurance Supervision Service of the Russian Federation and the Property Insurance Rules.
- buildings, structures, premises, interior decoration,
- furniture, inventory, computer equipment, office equipment, office equipment
- production equipment,
- finished products, goods, raw materials, supplies
Insurance risks - events in the event of which a property insurance contract may be concluded are listed in the Insurance Rules. The Insured himself selects a set of risks based on the reasonableness and feasibility of insurance coverage, however, the Insurance Company has the right to adjust the proposed insurance coverage based on its practice of insuring similar risks.
Sum insured
- is determined based on the actual value of the insurance object and this will be the most optimal solution. However, in some cases, the insured amount can be determined in the amount of the book value, collateral value, etc. In this case, the Insurance Company will be liable in proportion to the ratio of the insured amount and the actual value (that is, the insurance object is, as it were, partially insured and partially uninsured in proportion) .
In case of incomplete insurance, the legislation gives us the right to agree on full payment of losses, regardless of the ratio of the cost of the object and the insured amount, the so-called first risk payment system. In this case, increasing factors are applied to the tariff.
Franchise– In practice, it is applied to property of legal entities in the amount of 0.1% of the insured amount. The amount of the deductible can be either decreased or increased (simultaneously with a decrease in the insurance premium) by agreement between the Policyholder and the Insurance Company.
Insurance premium (contribution)– is a payment for insurance. Insurance only works if the insurance premium is paid in full or installments are paid in full and on time.
For some categories of property, indicative insurance rates may apply
| Property category | Insurance tariff, % |
|---|---|
| Real estate (reinforced concrete, brick buildings, structures) | 0,05 – 0,20 % |
| Real estate (wooden buildings, structures) | 0,15 – 0,30 % |
| Office and household appliances, furniture | 0,08 – 0,20 % |
| Production and auxiliary equipment | 0,06 – 0,25 % |
| Inventory (food, wine and spirits, medicines, clothing, shoes, household appliances, office equipment) | 0,07 – 0,28 % |
| Raw materials reserves (products and semi-finished products, pharmaceutical raw materials, rolled metal) | |
| Inventory (household goods, paint and varnish products, furniture, vehicles, petroleum products) | 0,10 – 0,35 % |
| Raw materials reserves (wood, plastic, paints and varnishes, leather, fabrics, petroleum products, other flammable and explosive substances, liquids and gases) |
Certain areas of property insurance for legal entities are formalized by specific insurance conditions that reflect the characteristics of a particular type of property.
Insurance of rented non-residential property in Moscow
(state and municipal property)
For more than 15 years, the Geopolis Insurance Company has been accepting for insurance municipal premises leased or managed by the Moscow Property Department. During this time, we have accumulated extensive experience in this program, which has allowed us to completely unify insurance both when applying for insurance and when settling losses. Features of the program are:
- Rules for insurance of rented non-residential property in Moscow
- Insurance risks comply with the requirements of the Moscow Property Department and include fire, natural disasters, floods, and illegal actions of third parties.
- Sum insured is calculated based on the base cost of construction per square meter, approved in Moscow in the amount of 20,866 rubles.
- Franchise in the amount of 0.1% of the insured amount.
- Insurance premium in the amount of 0.1 to 0.25% of the insured amount. The tariff takes into account the material of the main structural elements of the building and the physical wear and tear of the BTI.
- Compensation for damage– is carried out on the basis of a limited set of documents, the calculation of damage is carried out according to the methodology approved by the Moscow Property Department, which allows reducing the payment period to 1 week.
The organization of insurance protection of property of legal entities - enterprises and organizations - deserves special attention.
Legal entities can insure the following property:
State;
Actually;
Rental;
Collateral;
Leasing.
Enterprises can enter into the following types of property insurance contracts:
Basic;
Additional;
Special.
Under the main contract, you can insure all property owned by the enterprise: buildings, structures, transmission devices, power and other machines, equipment, vehicles, fishing vessels, fishing gear, work in progress, inventory, finished products, raw materials, goods, materials and more property.
Under an additional contract you can insure:
Property received by enterprises under a rental agreement (rent, leasing, rental)
Accepted from other enterprises and the population for processing, repair, transportation, storage, commission, etc.
A special contract can be concluded for insurance:
A certain type of property or a separate object (selective insurance);
Property transferred under rental agreements (rent, leasing, rental)
Property for the duration of experimental or research work, exhibiting at exhibitions.
In property insurance of legal entities, certain restrictions on the objects of insurance, set out in section 8.1, apply.
The procedure and basic conditions for property insurance are specified in the Insurance Rules by type of property or risk, are developed independently by individual insurers and are subject to registration with the State Commission for Regulation of Financial Services Markets of Ukraine when issuing a license for the right to carry out the corresponding type of insurance.
The basic conditions of property insurance cover three aspects:
1) insurance liability;
2) insurance assessment and sum insured;
3) principles of compensation for losses.
The insurance rules also display additional conditions for compensation of losses, the amount of the deductible, the responsibilities of the parties and other circumstances that may affect the insurance compensation and the insurer’s fulfillment of its obligations to the policyholder.
Insurance liability is a list of insurance risks, in the event of which the insurer undertakes to compensate for losses. Property insurance uses a standard list of risks, which in some cases can be supplemented or specified by the insurer.
Property insurance is carried out in case of loss, destruction or damage due to the following insured events (risks):
Fire, lightning strike;
Natural disaster (earthquake, flood, hurricane, rain, hail, landslide and other natural and climatic phenomena unusual for the area);
Accidents of heating, fire, water supply, sewerage systems and other technical accidents;
Illegal actions of third parties, theft, etc.
Property is also considered insured in the event that, due to fire or a sudden threat of a natural disaster, it needs to be dismantled or moved to another location.
The scope of insurance liability excludes losses caused to property due to:
Processes that cannot be avoided in work or those that naturally follow from them (corrosion, rotting, natural wear and tear and other properties of objects);
Its treatment with fire, heat or other thermal influences for the purpose of processing, drying, cooking, melting metals and the like;
Changes in navigation and other conditions;
The effect of electric current on various electrical devices and malfunctions of electrical equipment;
Deliberate actions of the policyholder and persons in labor relations with him;
Theft of property, if the fact of theft is not verified by the police or other law enforcement agencies;
Improper storage of property;
Radioactive contamination;
Defects in property that occurred before the conclusion of the contract;
Acts of terrorism, hostilities, civil disturbances, confiscation or seizure of property;
Coup d'etat or conspiracy.
Policyholders have the right to insure property against all risks proposed in the insurance rules or only specific risks. Insurance rates are set separately by type of risk and adjusted depending on the level of complexity of the risk and other circumstances. For adjustments, decreasing or increasing coefficients are used.
The sum insured and the insurance valuation are important. The insured amount for each insured object must correspond to its actual value. This is very important, because if the replacement amount is insufficient, the policyholder will not be insured, and if it is too high, then this situation will not be beneficial for the insurance company, since under such conditions the policyholder will be in the occurrence of an insured event. The actual (insurable) value of property is determined differently depending on the type of property; for the purpose of insurance valuation, it is divided into the following groups:
1. Fixed assets.
2. Inventory assets.
3. Products in the process of production or processing.
4. Object under construction in progress, d. Exhibits of exhibitions, museum values, collections, original works, antiques.
Insurance assessment is based on two types of coverage:
1) insurance compensation;
2) insurance restoration.
The first type means that insurance compensation must provide the insured with compensation for losses in the amount of the value of the property valid at the time of the insured event, that is, the insured after the occurrence of the insured event must be placed in the same financial position in which he was immediately before the insured event. This type of coverage applies to all groups of property.
The second type means that in the event of an insured event, the entire cost of restoring destroyed or damaged property will be covered. After payment of the insurance compensation, the policyholder will be placed in better conditions than he was before the insured event. Otherwise, the policyholder will receive the amount he needs for re-construction or purchase of an identical object to replace the previous one. Mostly this type of coverage is used only for the first group of property.
Taking into account this approach, the insured amount for fixed assets (buildings, structures, transmission devices, machinery, equipment, etc.) is equal to the replacement cost or book value taking into account depreciation; for inventory items - purchase value (acquisition cost); for products in the process of production or processing - the costs of its manufacture; for objects under construction - the actual costs incurred for their creation; for other property (exhibitions, museum treasures, collections, works of authorship, antiques, etc.) - contractual (estimated) or market value.
If there is no balance, the property of a private entrepreneur is accepted for insurance in accordance with its description at its estimated value.
The estimated value of the property can be determined on the basis of an expert assessment carried out by surveyors. Assessment (survey) bureaus have already been created in Ukraine.
Property can be insured for its full value or for a certain portion. In case of property insurance not for the full value, losses upon the occurrence of an insured event, as a rule, are also compensated in full (a proportional insurance compensation system is applied).
Calculations of insurance payments (insurance premiums, insurance contributions) are carried out based on the insured amount and insurance rates established for individual risks and differentiated depending on the complexity of the risk or other circumstances reflected in the insurance contract. When calculating insurance premiums, various discounts and benefits that are provided to the policyholder by the insurer are also taken into account. The amount of insurance payments may also depend on the following components:
Type of property and conditions of storage of property;
Technical condition of the enterprise;
Type of production;
Insurance period;
Forms for making insurance payments;
Conclusion of an agreement with a franchise;
Continuity of insurance for several years;
Lack of insurance cases;
Implementation of preventive measures, etc.
Thus, higher rates are applied when insuring equipment, instruments during research and experimental work, and space technology. Increased risks accompany vehicles, so they are insured at separate rates.
Property is considered insured if an insurance contract is concluded between the insurer and the policyholder. The insurance contract is mainly concluded on the basis of a written application from the policyholder. In appropriate cases, the application may be accompanied by an inventory of property, which is an integral part of the contract. When concluding an insurance contract, the policyholder is obliged to provide the insurer with truthful information about all circumstances known to him that are important for assessing the insurance risk. In some cases, when concluding property insurance contracts, it may be possible to provide the insured with an insurance certificate (insurance policy).
Property insurance contracts are concluded mainly from 1 to 11 months, for one year or more (indefinite period) with an annual update of the value of the property. If during the validity period of the insurance contract the value of the property changes, this necessitates recalculation of the insured amount and insurance payments and the conclusion of an additional contract for the period until the expiration of the main contract, or even re-conclusion of such a contract.
After receiving the insurer's consent to conclude the contract, the policyholder is obliged to pay insurance premiums or part thereof within a certain period to the insurer's account. Contributions are paid by bank transfer or in cash.
General requirements for the content of an insurance contract and the procedure for its conclusion are defined in the Law of Ukraine “On Insurance” (Section II).
In the event of an insured event occurring with the insured property, the insured's claims are satisfied in the following sequence: the fact of the occurrence of the insured event is established; an insurance report on the insured event is drawn up; the amount of damage and insurance compensation is determined; insurance payment is made.
Insurance indemnity is based on a system of proportional liability, that is, in the event of loss, destruction or damage to property, insurance indemnity is determined in the proportion in which the property was insured, but not higher than the insured amount. The calculation is carried out as follows:
Insurance indemnity = __ Sum insured Zbitok__
Property value
General conditions and procedure for payment of insurance compensation specified in Art. 25 of the Law of Ukraine "On Insurance". Specific conditions are defined in the rules and in the insurance contract.
Unless otherwise provided in the insurance contract, losses are compensated as follows:
In case of damage to property, insurance compensation is paid in the amount of the difference between the declared sum insured and the value of the remaining property suitable for further use;
In case of loss of property, insurance compensation is paid in the amount of the actual (replacement) cost minus depreciation and the value of the remaining property suitable for further use.
Upon the occurrence of an insured event, the policyholder must:
Take measures to prevent and reduce losses;
Notify the insurer of the occurrence of an insured event within the period specified in the insurance contract;
Notify the relevant authorities about the occurrence of the event according to their competence (police, fire, emergency services, etc.);
Provide the insurer with all the documents necessary to establish the causes and extent of damage;
Until the arrival of the insurer's representative, store all remains of destroyed or damaged property.
Calculation and payment of insurance compensation is made on the basis of the policyholder's application and the insurance act or emergency certificate. The insurance act is drawn up by the insurer or a person authorized by him - the accident commissioner with the obligatory participation of a representative of the insured.
Emergency Commissioners- these are persons who are involved in determining the causes of an insured event and the amount of losses, the qualification requirements for which are established by acts of the current legislation of Ukraine.
Insurance compensation cannot exceed the amount of direct damage to the insured property. The amount of damage may also include expenses associated with salvaging property, preserving its remains, drawing up an insurance act, cleaning and landscaping the territory, conducting an examination and other necessary and expedient expenses.
The insurer may refuse to pay insurance compensation if the policyholder has not fulfilled the obligations stipulated by the insurance contract.
The grounds and procedure for refusal are regulated by Art. 26 of the Law of Ukraine "On Insurance". They may be:
Intentional actions of the insured aimed at the occurrence of an insured event;
Submission by the insured of knowingly false information about the insurance object;
Receiving compensation for damages from the guilty party;
Late notification of the occurrence of an insured event or creating obstacles for the insurer in determining the circumstances and causes of damage;
Other reasons, if this does not contradict the legislation of Ukraine.
The property insurance contract is valid until the insurance compensation is paid in full. Payment of insurance compensation is carried out in accordance with the procedure established by the contract and within a certain period. This may include a deductible or another payment if the contract is renewed.
Reliable insurance of enterprise property
Objects of the property complex play an important role in the successful operation of the enterprise. The owner’s task is to ensure the safety of objects, as well as create conditions for their safe maintenance and operation. Damage, destruction or loss of a property can radically worsen the economic situation of an enterprise.
An insurance policy is not able to protect your property - only you can do that. But with our property insurance policy, you can protect yourself from sudden, very “hurtful” and very devastating costs to restore the integrity of your company’s assets.
Property insurance on individual terms
If your enterprise is a complex property complex with many objects, or the property of your enterprise is located in different territories, or you need to create insurance coverage with unique conditions prescribed for different groups of property, as well as in other cases when it is necessary to take into account unique conditions of maintenance and operation of facilities - it is advisable to consider the creation of insurance coverage on individual terms that meet the characteristics of your enterprise. In such cases, we offer the development of insurance coverage under the terms of the Insurance Rules. Insurance “against named risks”
This basic class of coverage insures risks in the combination you most require (any of the risks listed below):
- fire, lightning strike, domestic gas explosion;
- water damage as a result of an accident in pipelines of heating, sewerage, and water supply systems;
- natural disasters;
- illegal actions of third parties;
- burglary, robbery, robbery;
- collision with ground vehicles;
- falling of manned aircraft and/or their debris and/or cargo;
- pile of ships;
- broken glass;
- falling trees, large bushes, blocks of ice and snow.
A progressive alternative to basic insurance. Coverage of this class provides protection in case of damage, destruction or loss of objects insured as a result of sudden and unforeseen external influences (according to the principle “insured against everything that is not excluded”).
Insurance coverage applies to all types (types, categories) of property that you own, rent, have in custody or use, ranging from buildings to cash. You decide what property will be insured.
For a number of types (types, categories) of property, insurance coverage can be expanded by insuring special risks inherent in such property.
For production technological equipment - insurance of “machine breakdowns”
- unexpected breakdowns or defects;
- unintentional errors or negligence of personnel;
- overload, overheating, vibration, disorder, jamming, clogging of the mechanism with foreign objects, change in pressure inside the mechanism;
- the effect of centrifugal force and “fatigue” of the material;
- water hammer or lack of liquid in boilers and apparatus operating with steam or liquids;
- the effects of electricity in the form of a short circuit, overload of the electrical network, voltage drop, etc., including damage from a fire resulting from these phenomena, in terms of damage caused directly to the objects in which the fire occurred;
- breakdown or malfunction of attachments, protective or control devices.
Includes coverage of special risks:
- exposure to smoke, soot, corrosive gases;
- short circuit, overvoltage, insulation damage, induction, magnetism, implosion;
- unintentional errors or negligence of personnel (without violating the current operating rules);
- failure of air conditioning systems;
- sudden interruption of electricity supply from public power supply networks;
- defects in materials, components, casting.
Property insurance on individual terms requires detailed coverage in the following areas:
- Determining the need for the class of coverage and the volume of insured property (possibly with the participation of a specialist from Rosgosstrakh).
- Determination of the cost base of insurance objects and insured amounts (based on your balance sheet data or the report of an independent appraiser, or (only in relation to buildings and structures) methods developed by our company).
- Assessment of the level of risks and conditions for ensuring the safety of facilities (possibly with the participation of specialists from the Rosgosstrakh company or with the involvement of an independent expert organization);
- Conditions for risk servicing (the need for risk reinsurance, clarification of loss settlement procedures, etc.).
- Determining the terms of insurance coverage - drawing up an insurance contract and its approval by the parties.
The cost of coverage is determined by the following conditions:
- type of activity of the policyholder;
- qualitative and quantitative characteristics of the insured property;
- conditions of maintenance and operation of the insured property, as well as objects located in a constructive relationship with the insured property, or in close proximity to it;
- cost base for determining insurance amounts and the amount of insurance amounts;
- scope of coverage (list of insured risks);
- the presence of limiting or additional coverage conditions to the basic ones.
Range of insurance premium rates for some property assets* (in % per year of the insured amount):
*Not an offer. The data is provided for objects with a normal level of risk. The data is provided for the range of insured amounts of 50-150 million rubles. Data provided when applying unconditional deductibles. Not for facilities with hazardous technological processes and/or substances.
Insurance of losses from interruption in production (or commercial) activity of an enterprise is carried out in addition to insurance of the property complex.
If, due to damage, destruction or loss of the insured property, the activity of the enterprise is stopped, this insurance will compensate for:
- Conditionally fixed costs that do not depend on the turnover or results of the enterprise’s activities:
- Wages of workers and employees;
- Social contributions;
- Taxes and fees not calculated from turnover or based on the results of the enterprise’s activities;
- Payment for rent of premises, equipment or other property;
- Depreciation charges;
- Interest on bank loans aimed at modernizing/renovating insured property.
- Loss of rental income.
- The amount of lost profit.
The compensation period (the break period calculated from the date of damage to the property until the date of restoration of the property) can range from 3 to 24 months and is established by agreement of the parties.
All indicators for insurance amounts are determined on the basis of reporting data published by the policyholder. Insurance amounts are established on the basis of average annual values.
Rosgosstrakh-Business “Property”
This product is intended for insuring property risks primarily for medium and small businesses. Through the use of a number of technological solutions, the risk assessment procedure has been simplified. This allows you to minimize the time required to issue an insurance contract without compromising the quality and/or increasing the cost of insurance protection.
You can insure the following objects (both individually and in any combination that is most in demand by you):
- buildings, structures, structures;
- interior decoration;
- production, technological, office, warehouse, commercial equipment;
- inventory, furniture;
- inventory (of various types) located in warehouses and on the sales floor.
Select the set of risks that best suits your needs.
A reduction in the cost of the policy to 10% is provided for comprehensive insurance for products of the Rosgosstrakh-Business line.
For questions related to the conclusion of corporate property insurance contracts, please contact the Corporate Sales Block e-mail address. We will be happy to find the optimal solution for you.
Property insurance - protection of the property interests of owners of real estate, vehicles, works of art, goods, cargo, equipment, investments, in the event of certain events (fire, flooding, man-made disasters, theft, natural disasters). Compensation for material damage is made from funds generated from cash contributions from property owners. Property insurance for individuals is voluntary; for legal entities it is often required by law. Implies full or proportional compensation for losses.
Property insurance contract
A property insurance contract is concluded between the owner and the insurance company. Before signing a contract, an assessment of the value of the insurance object is usually made. The insured amount cannot be more than the actual value of the object at the time of signing the contract. The term of the contract is from one year or more with annual recalculation of the value of the property and the amount of payments. Individuals and legal entities can insure the full or partial value of the object. It is possible to insure the same property with different insurers. The total amount of compensation in this case should not exceed the cost of the object.
Property insurance for legal entities
The legislation provides for norms of compulsory and voluntary insurance of property of legal entities. State-owned property, high-risk objects, collateral values, and vehicles purchased under or under a leasing agreement are subject to compulsory insurance. An insurance contract can be drawn up both for the entire property of the complex and for its individual parts. Compensation for damage to a legal entity is paid only if the company is not at fault for the occurrence of the insured event. The existence of an insured event must be documented.
Property insurance for individuals
Compulsory insurance of property of individuals is not provided for by law, but often the conclusion of such an agreement is a mandatory requirement of banks when issuing insurance for the purchase of vehicles. According to statistics, only 3% of individuals in the Russian Federation insure their own property. In Europe and the USA, 90% of property owners enter into property insurance contracts. Insurance payments cover the full cost of lost or part of the cost of damaged material assets. The maximum payment amount depends on the appraised value of the property, limits, deductible and other factors.
Voluntary property insurance
Voluntary property insurance involves concluding an agreement with the insurer at the initiative of the company that owns the property. Legislative acts regulating this type of insurance are the Laws of the Russian Federation “On Insurance” dated November 27, 1992, “On the Organization of Insurance Business in the Russian Federation” dated December 10, 2013. For organizations, expenses for voluntary insurance, in accordance with the legislation of the Russian Federation, are included in expenses associated with production and sales, as other expenses. Voluntary property insurance is always limited in terms of the terms of the contract.
Compulsory property insurance
Compulsory property insurance is provided for by the legislation of the Russian Federation for legal entities. It provides for legal protection of state, personal, leasing, collateral, and rental property. Compensation for damage is provided for the entire property complex or its individual parts. The insurance contract includes a standard list of risks, which in some cases may be supplemented. The conditions for property insurance are established in the Insurance Rules registered with government agencies. The contract should always cover the following issues:
- insurance liability;
- insurance valuation and amounts;
- rules and procedures for compensation.
Cost of property insurance
The cost of property insurance is determined by an agreement concluded between the insurer and the policyholder. It depends on several factors: the estimated value of material assets, the degree of their wear and tear, the list of risks, the amount of compensation, the amount of the deductible. The approximate cost can be determined using online calculators. The exact amount is determined when individuals and legal entities contact the insurance company to conclude a contract. Insurers offer different conditions, various types of insurance policies, from which citizens or companies can choose the best ones that suit their goals.
Property insurance rules
The rules for insuring property of individuals and legal entities are established by the legislation of the Russian Federation and insurance companies. Often different for legal entities and individuals. They contain:
- general provisions,
- clarification of accepted terminology,
- procedure for concluding a contract,
- insurance objects;
- deadlines;
- tariffs;
- list of conditions for compensation of damages,
- types of risks,
- principles for determining the value of property, franchise, amount of damage and volume of insurance payments,
- the procedure for making payments;
- liability of the parties;
- dispute resolution procedure and other provisions.
Classification of property insurance
The insurance business has adopted a classification of property insurance by categories of clients, types of objects, types of risks, and conditions. These types of insurance are specified in the license issued to the insurer to carry out activities. There are the following types of property insurance:
- voluntary and mandatory;
- individuals and legal entities;
- transport, buildings (houses, dachas, garages, plots, workshops, unfinished construction projects), agricultural (plantings, animals, equipment, vehicles), property of citizens, property of organizations.
Property and residential premises insurance programs
Insurance companies are developing various property and residential insurance programs. Thanks to them, each policyholder can choose the optimal conditions for the protection of property interests and compensation for damage. The government and municipal authorities are developing special preferential programs that make insurance accessible to all segments of the population, increasing the attractiveness of this type of service and social security of the population. Financial organizations are developing property insurance programs for mortgage lending and leasing of objects.
Real estate insurance
Insurance relations for real estate objects extend to buildings, premises, structures, plots, complexes owned by individuals and legal entities. The owner can insure the entire object or part of it. Individuals are voluntary; for legal entities, a compulsory insurance procedure is provided. The amount, conditions and method of compensation depend on the insurance liability system. The insured amount cannot be higher than the estimated value of the object. The contract provides for full or partial compensation for damage resulting from the occurrence of an insured event.
Property insurance is one of the types of property insurance, the object of which is property interests associated with the ownership, use and disposal of property. Under a property insurance contract, the risk of loss, destruction or damage to certain property can be insured.
The classification of property insurance is based mainly on taking into account one of two characteristics: subjective (who owns the property) or objective, which determines what this property actually is.
Thus, we can distinguish:
— ;
— insurance of property of individuals.
Property insurance for legal entities, depending on the object of insurance, is divided into:
— insurance of enterprise property;
— insurance of water and air transport;
Property insurance for individuals includes:
— insurance of buildings, apartments;
— insurance of household property, animals, etc.
There are types of insurance for which both legal entities and individuals are insured:
— insurance of agricultural crops and animals;
— motor vehicle insurance, etc.
Depending on the specifics of the objects covered by insurance protection, the following are distinguished:
— transport insurance (automotive, air, marine, cargo);
— insurance of technical risks (machines against breakdowns, electronic equipment, construction and installation risks);
— agricultural insurance (crops and animals, equipment)
In addition, depending on the risk insured, we can distinguish:
1. Property insurance against fire and natural disasters (fire insurance);
2. Property insurance against accidents;
3. Insurance of property against theft and other malicious actions of third parties, etc.
The insurance supervisory authority, when issuing licenses to carry out insurance activities, is guided by the classification established in Art. 32.9 of the Law on the Organization of Insurance Business and distinguishes within the framework of property insurance:
— insurance of land transport vehicles (except for railway transport vehicles) – clause 6;
— insurance of railway transport vehicles – clause 7;
— insurance of air transport vehicles – clause 8;
— insurance of water transport – clause 9;
— cargo insurance – clause 10;
— agricultural insurance (insurance of crops, crops, perennial plants, animals) – clause 11;
— insurance of property of legal entities, with the exception of vehicles and agricultural insurance – clause 12;
— insurance of citizens’ property, with the exception of vehicles – clause 13.
The implementation of selected types of property insurance has certain features related to the assessment of property accepted for insurance, assessment of accepted risks, calculation of insurance premiums, determination of damage and insurance compensation payments, etc.
Property insurance for legal entities
Any enterprise (organization, institution), regardless of its organizational and legal form, that owns property or has accepted it on lease, pledge, rent, commission, for sale, storage or on other legal grounds has the right to insurance of its property.
Property is a collection of material assets and things in the use (ownership) of the insured person. Property differs by type: movable and immovable property, property of agricultural and industrial enterprises. Movable property includes anything that can be moved. Real estate is static, for example: buildings, structures, land plots.
What is insured?
The object of insurance is loss, shortage or damage to certain property. Under an insurance contract, property can be insured in favor of the policyholder (beneficiary), who has an interest in the safety of this property based on a contract (law).
Enterprise property insurance is divided into types of property insurance:
- government organizations (enterprises, associations, institutions);
- state agricultural enterprises;
- non-governmental and public organizations;
- non-state agricultural enterprises and tenants;
- government buildings leased to organizations and individuals;
- religious organizations;
- foreign citizens on the territory of Russia.
Property insurance of legal organizations in the Russian Federation of the above types is carried out on a voluntary basis. The following property of enterprises is subject to insurance:
- structures, buildings, structures;
- equipment, inventory,
- transmission devices, power workers and other machines,
- vehicles, fishing (other) vessels, fishing gear,
- objects of unfinished production and capital construction,
- finished products, goods, raw materials;
- farm animals, rabbits, fur-bearing animals, bee colonies and poultry;
- crop harvest;
- other property.
Property leased to other organizations may be insured separately from the general part of the property.
What is not insurable?
When insuring the property of legal entities, the following property is not covered:
- securities, cash, documents;
- earthworks, dams, dams, sidewalks, bridges, parking areas, asphalt roads and others;
- structures, structures and other property located in the disaster zone.
An exception to the last point is the case in which the insurance is extended for a new term even before the expiration of the previous contract, within the limits of the percentage of the value of the property that was specified in the original insurance contract.
Insurance risks
The property interests of business entities are manifested in the event of death, destruction (damage), flooding, theft, or destruction of property. It should be taken into account that property interests with which the insured event occurred unintentionally (accidentally) are subject to insurance protection.
Enterprise property insurance is carried out against possible damage (loss) in the event of damage or loss of property due to the following insured risks (insurance events):
- damage or destruction from explosion, fire, lightning strike;
- damage or destruction from a natural disaster (floods, earthquakes, hurricanes, rainstorms, snowfalls, mudflows and others);
- damage or destruction of manned aircraft, as well as their parts, from falling;
- death or damage from the destructive effects of water (accidents on plumbing, heating, fire protection, sewerage systems, penetration of water or other liquids from neighboring premises);
- destruction or damage from outside influence (collision by a vehicle or self-propelled machine, collapse of a water vehicle or self-propelled floating engineering structure);
- damage or destruction due to illegal actions of third parties (theft, robbery, robbery, robbery, arson, vandalism).
Damaged is the condition of property in which there are no characteristic signs of its complete destruction or destruction, and which can be restored through repairs. Destruction, death, loss, flooding is the disposal of property from use. Theft means taking property by fraud, theft or robbery.
Insurance compensation
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When insuring the property of legal entities, payment of insurance compensation can be made both to the policyholder and to his designated beneficiary (individual or legal entity). It is important to remember that the insurer becomes obligated to make an insurance payment only upon the occurrence of an insured event (incident). The beneficiary (policyholder) does not have any rights or grounds to receive insurance compensation before the occurrence of the insured event (incident).
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Currently, namely during trade relations, a variety of forms of ownership appear on the market. For example, citizens of our country are increasingly uniting into some kind of organization, which is usually called legal entities. Such forms of ownership have certain assets and, of course, some risks of losing them. It is for this reason that property insurance has become so widespread.
This procedure is almost one of the most popular in insurance companies, as well as numerous agencies. Note that, like insurance of personal property of ordinary citizens, insurance of valuables of a legal entity is always regulated by a certain law. As practice shows, in most cases, insurance is a mandatory procedure for all forms of ownership. However, it should be noted that not all legal property on the market needs to be protected by insurance, since there are different types of property insurance for legal entities .
If we take, for example, certain financial savings, as well as a cash register and other list of valuables, the organization has the right to insure it only if it wishes.
By taking advantage of the insurance services provided, the heads of organizations have an excellent opportunity not to worry about all the possible consequences if various types of unforeseen circumstances occur. Also, if the property is insured, you can safely plan all further work of your company.
Compulsory insurance of property of legal entities.
As mentioned above, insurers offer various types of insurance. For example, one of the more common ones is compulsory property insurance of legal entities. Let us immediately note that only property owned by the legal entity itself is subject to this form of insurance. This may also take into account the necessary insurance coverage of any third parties present.
Voluntary insurance of property of legal entities.
Voluntary property insurance for legal entities characterized by the fact that any enterprise has the right to establish certain clauses of the contract itself. Let's look at them:
- You can adjust the sum insured;
- The size of the franchise is also subject to change;
- The corresponding policy can be obtained from any company, etc.
Also, if the company does not have the required financial amount, it has the full right to refuse the services of the insurer. But at the same time, all responsibility for financial security will be completely unprotected.
- Fire property insurance
- General property insurance
- Types of property insurance
- Types of property insurance for legal entities
- Online property insurance
- Rented property insurance
- Business center insurance
- Hotel insurance
- Insurance of collateral property
- Land insurance
- Property insurance
- Property insurance of enterprises and organizations
- Property insurance for legal entities
- Small boat insurance
- Marine insurance
- Equipment insurance
- Office insurance
- Insurance of production facilities
- Aircraft insurance
- Shopping center insurance
Property insurance
Property insurance for legal entities
As already noted, the object of insurance is property interests. related to the ownership, use, and disposal of property. Therefore, not only the property that is the property of the enterprise is subject to insurance. In this regard, we can highlight the following types of property that can be insured :
- property owned by an enterprise by right of ownership, right of economic management or operational management;
— property received under a rental or leasing agreement;
- property accepted for processing, repair, transportation, commission, storage, etc.
Typically the following types of property are accepted for insurance: :
— buildings (industrial, administrative, socio-cultural and public use);
— structures (towers, masts, units and other production and technological installations);
— separate premises (workshops, laboratories, offices, etc.);
— engineering and production-technological equipment (communications, systems, devices, machine tools, transmission and power machines, other mechanisms and devices);
— inventory, technological equipment;
— interior items, furniture, shop windows, mirrors, advertising installations;
— inventory items (goods, finished products, raw materials, materials).
Usually not accepted for insurance :
— cash and securities;
— documents and business books;
- items that have no value (manuscripts, drawings, plans, etc.);
— property, insurance coverage of which is provided according to specific insurance conditions (vehicles, farm animals, etc.);
— as a rule, especially valuable property (precious metals and stones, collections and works of art, securities) is not subject to insurance under the main contract. Such valuables can be insured under a special contract.
Place of insurance. Typically, property is considered insured only in those premises and on the land plot specified in the insurance contract. If the insured property is removed from the place of insurance, insurance coverage is terminated.
Insurance risks (insurance events). Insurance of property of legal entities is carried out in case of destruction or damage as a result of the following insured events:
— explosion of gas, boilers, machines, apparatus, etc.;
— natural disasters and the action of natural forces (earthquakes, flood, hurricane, whirlwind, storm, tsunami, rain, hail, flood, subsidence and subsidence of soil, landslide, landslide, mudflow, the action of groundwater, flooding, etc.);
— the effect of water (accidents of heating, water supply, fire-fighting and sewerage systems, penetration of water from neighboring premises);
— fall of manned aircraft and their parts;
— broken glass, shop windows, etc.;
— burglary, robbery and other illegal actions of third parties (for material assets);
Typically, the insurance company provides the policyholder with the opportunity to choose a list of risks (one, several, all) against which he would like to insure.
Insurable value of property.
To determine the insurable value, the following property value estimates can be used:
— book value. but not higher than the replacement cost on the day of its death (for the assessment of fixed assets);
— actual cost based on market averages. selling prices and prices of own production (for assessing working capital);
— based on actual costs incurred material and labor resources at the time of the insured event (to assess unfinished construction).
Sum insured determined separately for each object or set of objects (groups, categories of property). It is possible to determine the insured amount using two options:
— the insured amount is equal to the insured value of the property (full insurance coverage);
— the insured amount is equal to some fraction of the insured value of the property (incomplete insurance coverage).
In case of incomplete insurance, it is very important to clearly state in the contract how the insurance compensation will be calculated.
Unless otherwise specified in the contract, in the event of under-insurance after the occurrence of an insured event, insurance compensation is paid in proportion to the ratio of the insured amount to the insured value (Article 949 of the Civil Code of the Russian Federation).
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Example. Determine the amount of insurance compensation according to the system of proportional liability. The cost value (valuation) of the insurance object is 18 million rubles. insurance amount 7.4 million rubles. loss to the policyholder upon the occurrence of an insured event RUB 3.64 million.
Option 1. The insurance contract does not contain an insurance clause with a liability limit. Then the insurance compensation will be (according to the proportional liability option):
SV = 3.64 million rubles. x (7.4 million rubles. 18 million rubles) = 1.5 million rubles.
Option 2. The insurance contract contains a clause that insurance compensation is paid in the amount of the actual loss, but within the limits of the insured amount. We calculate insurance compensation:
SV = 3.64 million rubles. (this is less than 7.4 million rubles).
Insurance premium calculated at rates established for individual risks (fire, explosion, accident, etc.). Rates are differentiated depending on the industry, type of production, purpose of property, fire safety conditions (for fire insurance), and safety of property.
Table 1 – Approximate basic tariffs for property insurance of legal entities
Types of risks (insurance events)
Insurance rate (% of the insured amount)
Insurance rules may provide for discounts on the amount of the insurance premium: for concluding an agreement with a franchise, for meeting fire safety requirements, for continuity of insurance (property insurance for several years without the occurrence of insured events) and others.
Calculation of the amount of insurance compensation .
The basis is the data registered in the insurance act drawn up by the insurer or a person authorized by him, with the participation of the policyholder.
The amount of damage is determined:
- in case of loss or theft of property - in the amount of the insured value of the lost or stolen property (minus the remainder suitable for further use);
- if property is damaged - in the amount of the cost of its restoration, or in the amount of the loss of the corresponding part of the value (if the property is not restored).
The general calculation formula is as follows:
Where: T- amount of damage;
W— value of property according to insurance valuation;
∑I- amount of wear and tear;
R— expenses for rescuing and putting property in order;
W a— the value of the remaining property suitable for further use (at residual value).
The policyholder is compensated expenses associated with salvage of property. to prevent and reduce damage in the event of a natural disaster or accident (moving property to a safe place, pumping out water, etc.), as well as to put the insured property in order after a natural disaster (cleaning, sorting, drying, etc.) .
As a rule, losses are not subject to compensation under this type of insurance. :
- those that occurred as a result of events that are inevitable during the work process and naturally follow from it (corrosion, rotting, physical wear and tear and other natural processes of changing the properties of individual objects);
— caused to the insured property as a result of its treatment with fire, heat or other thermal effects for the purpose of processing or for other purposes;
- occurred due to defects in property that occurred before the conclusion of the contract.
Property insurance for legal entities
Currently, the insurance procedure plays a huge role in the Russian market economy. Many commercial and government organizations, as well as individual entrepreneurs, thanks to insurance policies, significantly reduce existing risks.
Timely insurance of the property of legal entities allows you to stabilize all production processes, as well as more actively develop your business in different directions.
Company managers today have the opportunity to insure property against all risks, which in turn will allow them to reduce losses in the future in the event of insured events.
What is it
Insurance of movable and immovable property of legal entities is intended to reduce their financial losses upon the occurrence of an insured event specified in the relevant contract.
This procedure can be classified as a type of property insurance, which has recently become very popular.
Insurance companies undertake to compensate for damage to representatives of medium and small businesses in the event of an emergency that results in partial or complete damage to movable and immovable property.
The following representatives of small and medium-sized businesses can take part in the procedure for insuring the property of legal entities:
- individual entrepreneurs;
- notaries;
- lawyers;
- legal entities;
- state-owned enterprises;
- municipal authorities.
Representatives of small and medium-sized businesses carrying out their economic activities in the status of legal entities, while participating in the property insurance procedure, are called policyholders who have the opportunity to:
- enter into agreements with an insurance company for the benefit of third parties;
- independently appoint recipients of insurance payments;
- if necessary, replace beneficiaries (before the occurrence of an insured event), etc.
Insurers can be legal entities, regardless of their form of ownership, that have registered this type of activity with the State Authorities and have all the necessary permits and relevant licenses.
This procedure is regulated by Federal legislation in force on the territory of the Russian Federation.
Peculiarities
The procedure for insuring the property of legal entities has a number of features that representatives of medium and small businesses should familiarize themselves with before taking out an insurance policy.
Firstly, managers of commercial or state companies must take into account that when concluding an agreement with an insurer, they should be guided by the Insurance Rules, which pay special attention to all types of risks.
Secondly, legal entities must independently develop such rules, which subsequently must undergo mandatory state registration.
Legal entities can insure other types of property by concluding a special agreement with the insurance company.
The insurance policy will protect a specific fixed asset that is transferred to the company for temporary use to conduct various studies, scientific experiments, etc.
When signing with a representative of a medium and small business, the insurance company assumes insurance liability.
The responsibilities of the policyholder include:
- recording of an insured event;
- quick consideration of an application from a legal entity;
- payment of compensation within the terms established by the contract.
When an emergency occurs that results in damage to the property of a legal entity, the insurance company sends its representative to the site to record the insured event.
In accordance with Federal legislation, when concluding a contract, the insurance company stipulates force majeure with a representative of a small or medium-sized business, upon the occurrence of which the insurer is released from its obligations.
The following can be considered a force majeure situation:
- the beginning of hostilities;
- declaration of a state of emergency by the government of countries;
- confiscation of property by court decision;
- strikes and popular uprisings;
- requisition of property, etc.