Insurers are ... Insurers: qualities, responsibilities and risks

In insurance companies people turn in search of financial protection in case of occurrence of different unforeseen situations. In this article, we will examine in detail who the insurers are, what their role is, essence and what duties they have. Also will be given advice on choosing the most reliable company for the conclusion of an insurance contract.

Concept and essence

Insurers are legal entities that have a license to carry out insurance activities, conclude contracts with policyholders and undertake to provide financial assistance to them in the event of an insured event.

In simple words, you can say that the insurer in relation to you is the company in which you came to insure life or property (or any other value).

In the Russian language, the meaning of the word "insurers" comes from the word "fear". At a subconscious level, a service with this name scares off. Abroad everything is the opposite: in English insurance is called insurance from the word sure, which translates as confidence.

Some marketers with this and link the level of development of insurance companies abroad and in the Russian Federation.

Given the scope of the legislation of the Russian Federation, the insurer (insurance company) must have one of the following organizational and legal forms:

• Limited liability company;
• With additional responsibility;
• Open Joint Stock Company;
• Closed joint stock company.

Authorized capital

But not every "JSC" or "LLC" can become an insurer. First of all, the owners of a legal entity should have sufficient funds to form the authorized capital, which meets the requirements listed below.

Calculation of its size is formed from a minimum of 30 million rubles. And then this amount is multiplied by certain coefficients, which depend on the future activity of society. The grid of coefficients is divided into the following areas:

1. Insurers who will be engaged in the insurance of risks related to life or health, the provision of medical care.
2. As point 1, but together with property insurance related to ownership, liability, as well as entrepreneurial risks.
3. Insurers who plan to insure the lives of citizens or survive to the specified age.
4. Insurance companies that plan to engage in life insurance from accidents and health insurance.
5. Insurers who want to engage in reinsurance.

Types of insurers

According to the law, Russian insurers are divided into:

• Insurance organizations;
• Mutual insurance society.

It is clear that insurance organizations are directly insurers, who conduct their business activities, providing services to individuals or legal entities in taking risks.

That is, the main goal of such organizations is to get profit from the services provided, which is then redistributed between their shareholders and owners.

Meanwhile, mutual insurance companies can not engage in commerce. They are an organization that includes several stakeholders, as well as reinsuring each other's property interests on the basis of mutual insurance.

That is, such organizations are created by insurers and function at the expense of their contributions. Their goal is to maximally meet the needs of participants in insurance services for the best price. In the case of overpayments, all money remains in such organizations, that is, the insurers themselves.

What should be the insurer?

Insurers are not just commercial organizations that earn money from the air. They must be fully accountable for their obligations. A good level of insurance payments can not boast of any of them.

First of all, the responsibility of the insurer lies in the fact that the organization must guarantee to its clients who have concluded a contract with it, a certain level of financial protection in the situations specified in the contract.

When choosing an insurance company, pay attention to its reputation. You also need to focus on the following qualities of the insurer:

• Rating positions in the insurance services market ;
• Amount of insurance premiums ;
• Availability and description of situations in which insurance payment is not carried out;
• Membership in international insurance groups;
• Customer reviews.

Rights of insurance companies

Studying insurers, it is necessary to pay attention to the contract, which one or another company offers to sign their clients. It clearly describes the duties and rights of the insurer, as well as its clients.

Of course, everything depends on the type of insurance product and the conditions on which it is provided. But we can identify the main points about the rights of the insurer, which are found in most insurance companies:

• To demand from the client timely payment of insurance payments specified in the contract;
• Receive information about the client in agreement with him, which is not a commercial secret;
• Upon agreement with the second party to the contract, to make changes to it;
• Unilaterally terminate the contract ahead of time in accordance with the procedure provided by the document;
• At occurrence of an insurance event to send inquiries to corresponding bodies for finding-out of the reasons and circumstances of incident;
• Verify compliance with the terms of the contract by the insured;
• Deny compensation for damage after the occurrence of an insured event due to violations by the insured of the terms of the contract and failure to take actions to prevent, localize the circumstances that led to the occurrence of losses.

Each insurance company can add or remove the items listed above. It depends solely on its policy, which should not violate the requirements of the legislation of the Russian Federation.

What are the obligations?

It should also be noted and the obligations of insurance companies, which are found in contracts for all:

• When the insurance events determined by the contract come into effect, pay the insurance compensation to the beneficiary in the event of non-infringement of all clauses of the contract;
• Issue an insurance policy (contract) to the insured at the time of its conclusion;
• To keep secret about the personal information of the client received during its service;
• Reimburse the expenses incurred by the insured to reduce the consequences of the occurrence of the insured event.

There may be other conditions. Study the contract carefully before signing it. Otherwise, you run the risk of being left with nothing, even with the onset of an insurance event.

Opinions of people

There are different opinions and impressions about the need to let in an insurance company. There are superstitious people who believe that insurers are messengers of something bad. That is, by buying insurance, you automatically contribute to the fact that you will be in trouble.

There are also opposing views on such services. A lot of positive reviews about insurance companies. For example, there are many people who are facing credit. As you know, taking a loan is very expensive. But insurance companies recommend to insure the life of the breadwinner, otherwise in this case you can remain without the possibility of paying interest.

Solve yourself

People who suffered a loss consider that insurers are financial security and confidence in the future. Only in this way can you guarantee yourself assistance in difficult times. Of course, you will need to cover the risks of the insurer by paying the payment under the contract. But in any case, its size is much smaller than the financial difficulties that may arise at some tragic event or accident.

How to act for you, you need to decide on your own. No matter how we like, but in life there are situations that do not depend on our caution or care. There is always a chance of an accidental event.