Insurance of foreign economic activity. Insurance of foreign economic activity (5) - Abstract. State regulation of foreign economic activity insurance
Merchant fleet insurance
The practice of foreign economic activity in the export-import of goods and services is based on a system of insurance contracts that provide certain guarantees to exporters and importers in the event of various unforeseen circumstances and accidents. The overwhelming majority of foreign trade is served by sea transport. Therefore, the issues of insurance of foreign economic activity are considered through the system of marine insurance contracts. The range of issues of marine insurance includes insurance of sea vessels (hulls and equipment of transport and other watercraft), cargo insurance (transported goods) and liability insurance of ship owners. Cargo insurance is also called cargo transport insurance. Widespread development in last years container transportation led to the allocation of container insurance as an independent type.
Based on generally accepted practice, insurance companies accept for insurance any public interest associated with the operation of the vessel against any accidents and dangers during navigation or during the construction of the vessel.
In order to standardize insurance contracts and provide the policyholder with a choice in insurance coverage, various conditions are also applied in ship insurance practice that combine a certain group of risks.
Under terms with liability for death and damage are subject to reimbursement:
a) losses from damage or actual or constructive total loss of the ship due to fire, lightning, storm, whirlwind and other natural disasters, wreck, ship running aground, collision of ships with each other or with any fixed or floating objects, including ice, or as a result of that the ship capsizes or sinks, as well as due to accidents during loading, stowage and unloading of cargo or when receiving fuel, explosion on board the ship or outside it, explosion of boilers, breakage of shafts, hidden defect of the hull, machinery and boilers, negligence or error of the captain, engineer or other members of the crew or pilot;
b) losses from damage to the ship due to measures taken to save or extinguish a fire;
c) losses from the loss of the vessel without a trace;
d) losses, contributions and expenses in general average;
e) losses that the shipowner is obliged to compensate the owner of another ship as a result of a collision of ships;
f) all necessary and expediently incurred expenses for the rescue of the ship, for reducing the loss and establishing its amount, if the loss is compensated under the terms of insurance.
Under these conditions, damage losses are indemnified using a 3% deductible, i.e. losses are not subject to compensation if they do not reach 3% of the sum insured. Damage losses are indemnified without deductible only in cases where they were caused by a wreck, collision with another ship, grounding, fire or explosion on the ship, as well as in the presence of general average. Losses from the total loss of the ship in all cases are compensated without deductible.
Conditions without liability for damages, except in case of a crash, the scope of the insurer's liability is more limited. With the same list of risks, losses from the total loss of the vessel are compensated in full, and losses from damage - only in those cases if they were the result of the wreck of the vessel (grounding, fire or explosion on board the vessel, collision with another vessel or with any immovable or floating object, including ice, or as a result of measures taken to save or extinguish a fire). Damages from the loss of the ship without a trace are also subject to compensation; losses, contributions and expenses in general average; losses that the shipowner is obliged to pay to the owner of another ship as a result of a collision of ships; all necessary and expediently incurred expenses for the rescue of the ship, as well as for reducing and determining its size, if the loss is subject to compensation under the terms of insurance.
Condition without liability for private accident provides for compensation for losses from the total actual or constructive loss of the ship for the reasons set out in paragraph a) of the preceding condition above; losses from the loss of the vessel without a trace; losses relating to general average, however, only in cases where the damage is caused to equipment, machinery, machinery and boilers, but not to the ship's hull and rudder; indemnified also for losses caused by extinguishing a fire or collision with other ships during rescue work, the costs of rescuing the ship, reducing the loss and establishing its amount, if the loss is compensated under the terms of insurance, are reimbursed.
A condition with liability only for the total loss of the ship, including salvage costs, provides for compensation for losses from total loss (actual or constructive), loss of the vessel without a trace, reimbursement of expenses for the rescue of the vessel.
Condition with liability only for the total loss of the ship provides for compensation for losses only from the total (actual or constructive) loss of the vessel, due to the dangers listed above, and from the loss of the vessel without a trace.
In all cases, losses incurred as a result of intent or gross negligence of the insured, the beneficiary or their representatives are not compensated; unseaworthiness of the vessel (i.e. unreliability or unsuitability of the vessel for a given navigation, lack of necessary equipment or equipment, required composition team, its proper qualifications, departure on a voyage without proper ship's documents or incorrectly loaded); dilapidation or deterioration of the vessel, its parts and accessories; forcing ice without assistance by an icebreaker, loading with the knowledge of the insured or the beneficiary, but without the knowledge of the insurer, substances or objects dangerous in relation to explosion or spontaneous combustion; any kind of hostilities or military measures and their consequences, damage or destruction by mines, torpedoes, bombs and other weapons of war; piracy, as well as civil war, popular unrest and strikes, confiscation, requisition, arrest or destruction of a ship at the request of military or civil authorities; loss of freight, downtime (including the cost of wages and maintenance of the crew during the downtime and repair of the ship).
Other indirect losses of the insured shall not be indemnified, except for those cases when, under the terms of insurance, such losses are subject to compensation in the order of general average.
All the above conditions of ship insurance are, as it were, basic, pro forma for insurance contracts. By agreement of the parties, they can be expanded to include other risks.
Thus, it is generally accepted for a separate premium to include military and strike risks, loss of freight, etc. in the insurance contract.
Along with the listed conditions of insurance in practice, the inclusion in national insurance policies of some English standard conditions, the so-called clauses of the Institute of London Insurers, regulating certain relationships between the parties under certain conditions, is widely used.
Thus, for example, a clause of the Institute of London Insurers provides for the regulation of the relationship between the insured and the insurer in the event of a loss due to a collision of ships. The so-called ice clause, or the Institute's guarantees, is a series of standard guarantees or clauses, mainly of a navigational nature, which prohibit insured ships from entering dangerous waters, especially in winter time, because of the ice danger that arises there.
The conclusion of the ship insurance contract takes place on the basis of a written application of the insured, which must contain detailed information about the ship, the object of insurance, its type, name, year of construction and other data characterizing the ship; sum insured, which cannot be higher than the insured value, i.e. the actual value of the vessel by the beginning of insurance; the desired conditions of insurance are indicated, the period of ship insurance - for a certain period or voyage. In the first case, in addition to the term, the proposed navigation area is indicated, in the second - the ports of the vessel's call.
In case of term insurance, the liability of the insurer begins and ends at 24 hours on the dates specified in the insurance contract. At the same time, however, if the vessel is at sea at the time of expiration of the contract, is in distress or is laid up in a port of refuge or call, the insurance contract is considered extended until arrival at the port of destination, and the insurer has the right to receive an additional premium, in proportion to the extension period. contracts.
When insuring a voyage, the liability of the insurer (unless otherwise agreed) begins from the moment the moorings are released or weighed at the port of departure and ends at the moment of mooring or anchoring at the port of destination.
The insurer shall be liable for losses that occurred only in that area of navigation and only on the voyage that was stipulated in the insurance contract (policy).
When the vessel leaves the navigation area or deviates (deviation) from the route stipulated in the contract, insurance is terminated. In order for the insurance contract to remain in force in such cases, the policyholder must promptly notify the insurer of the upcoming change in the navigation area or voyage and confirm their readiness to pay an additional premium if the insurer requires it.
Deviation of the ship from the stipulated route or departure from the navigation area in order to save human lives, ships and cargo, as well as deviation caused by the actual need to ensure the safety of the onward voyage, is not considered a violation of the insurance contract.
The international convention obliges captains of ships to provide assistance to any person found at sea who is in danger of death, and upon receipt of a signal for assistance, to go to the aid of those in distress as soon as possible (a similar rule is reflected in Article 53 of the MTC).
About all cases of changes in the insured risk that have become known to the insured, such as: flight delay, deviation from the route, departure from the agreed navigation area, navigation in ice, wintering of the ship not provided for in the insurance contract, towing (active and passive), etc. .p., - the policyholder is obliged to notify the insurer.
Changes in risk that have occurred after the conclusion of the insurance contract and increase the degree of risk of the insurer, give him the right to demand an additional premium or change the conditions of insurance. If the policyholder refuses, the contract is terminated from the moment of the change in risk.
insurance premium called the fee that the insurer charges for insurance (assuming responsibility for possible damage or loss of the vessel); the amount of the insurance premium is formed by multiplying the premium rate by the sum insured (the amount that is indicated in the insurance contract and which cannot be higher than the actual value of the vessel at the time of insurance). The tariff or contractual premium rate is the payment for insurance, expressed in hundredths or thousandths of the sum insured (as a percentage or ppm of the sum insured).
Due to the wide variety of types, types and classes of ships, the wide geography of their operation, the areas of their navigation, ship insurance rates are also very diverse. Naturally, the most advanced modern ships of the highest class of the register, sailing in calm areas, have preference. In addition to the conditions of insurance and the breadth of insurance coverage, the insurer takes into account the degree of risk associated with the quality of the vessel. Therefore, higher rates apply to old or unregistered ships. Navigation areas, times of the year when ice conditions may occur or a period of storms, etc. are taken into account.
For example, sailing in arctic waters where there is an ice hazard (vessels can get stuck in the ice or suffer damage from ice collisions) is usually subject to an additional, so-called extra premium, in addition to the normal rates set for sailing in warm waters.
From this it is clear that in the insurance of ships individual premium rates are applied for each ship, depending on its type, insurance conditions, region and season, etc. It is almost impossible to work out fixed tariff rates.
Practice knows only separate tariffs for ships sailing in strictly defined areas, tariff rates extra bonuses for entering areas specified as dangerous. This extra premium is a certain amount charged per each gross register ton of the vessel, plus a certain percentage of the sum insured.
When insuring entire fleets, as a rule, an average rate is set for the entire fleet, or for a more accurate calculation, all ships of this fleet are grouped according to common homogeneous indicators and the rate is set for each such group separately.
The relationship of the parties upon the onset insured event are provided for in the insurance rules and the relevant maritime codes (in Russia - article 218 of the KTM) and are binding on the parties. Failure to fulfill these obligations on the part of the policyholder or his representative may lead to the release of the insurer from liability under the insurance contract.
Upon the occurrence of an insured event, the insured or his representative shall be obliged to take all measures in their power to prevent losses, save and preserve the damaged vessel, and also ensure the rights of recourse of the insurer to the guilty party.
All the circumstances of the accident at sea, the captain or officer on duty must enter in the ship's log, and upon arrival at the port, make a statement about the accident.
If the accident was caused by irresistible forces of nature, the captain, in order to relieve the shipowner (from the ship) of liability for losses, must make a statement about a sea protest.
A sea protest is filed with a notary or other official in the port of arrival and must contain a description of the circumstances of the incident and the measures that the master has taken to ensure the safety of the property entrusted to him.
The insurer may take part in the rescue and preservation of the insured ship, give advice, agree on the terms of salvage contracts, etc., however, all his actions are not considered grounds for recognizing the right of the insured to receive insurance compensation. Such right is determined on the basis of the terms of the insurance contract.
When claiming insurance indemnity, the policyholder is obliged to document the existence of an insured event.
Unless otherwise provided in the insurance contract, losses from damage to the ship are to be compensated in an amount that should not exceed the cost of restoring the damaged or lost part of the ship, minus the natural wear and tear of this part by the time of the accident, i.e. in this case, the principle of offsetting "old for new" is applied.
After paying the insurance indemnity, all claims and rights that the insured or beneficiary has against third parties guilty or responsible for causing harm are transferred to the insurer within the amount paid. Upon receipt of the insurance indemnity, the policyholder or beneficiary is obliged to hand over to the insurer all documents and evidence related to the loss at his disposal and complete all the formalities necessary to exercise the right of recourse to the guilty party.
Transport cargo insurance (CARGO insurance)
Modern foreign trade and maritime transport cannot do without insurance. In most cases, the insurance contract is an integral part of the trade transaction. The question of who and at whose expense provides insurance is decided at the conclusion of these transactions.
In international trade, with all the variety of its forms, the basic conditions for trade in certain goods and the corresponding proforma of trade contracts have been developed. These pro forma provide for the mechanism for the formation of the price of the goods and the actions taken by the parties in this transaction.
The four main types of commercial transactions are most common, abbreviated as CIF, CAF, FOB and FAS.
Got its name from the initial letters English words: "cost of goods, insurance and freight." This is a special type of contract in which, on special grounds, the main issues of purchase and sale are resolved: the moment of transfer to the buyer of the risk of accidental loss, damage or transfer of goods, the good faith action of the seller; payment procedure and other issues.
When selling goods on CIF terms, the seller is obliged to deliver the goods to the port of shipment, load them on board the ship, charter the tonnage and pay the freight, insure the goods against marine risks for the entire period of transportation until it is handed over by the carrier to the buyer, and send the buyer all the necessary shipping documents.
Under a CIF transaction, the seller is not required to physically transfer the goods to the buyer, it is enough to send him all the shipping documents for this transaction. Having documents, the buyer can dispose of the further fate of the cargo until it is received.
The wide distribution of CIF transactions in international trade has led to the need to develop special international rules for their interpretation.
Such rules, developed by the International Association of International Law, were initially adopted at a conference in Warsaw in 1928, and then in 1932 in Oxford (Great Britain) they were revised and the final version was called the Warsaw-Oxford Rules.
The rules were not binding and were applied only when it was agreed between the seller and the buyer when concluding a commercial transaction.
At the same time, any extension of the conditions could be made, but at the expense of the buyer.
In England, Germany, France and other countries, in the process of applying the rules, appropriate recommendations were developed in the form of additions that took into account the customs of these countries, some special terms of transactions based on the specific properties of certain goods (for example, flour, vegetable oil, grain, cotton etc.).
These recommendations in a number of cases were formalized by official government acts. However, they were mainly advisory dispositive in nature, which made it legally possible to use various pro forma transactions and standard conditions in international trade, including various interpretations of the CIF transaction conditions.
Yes, trade association vegetable oil had up to 40 standard proformas, the London Grain Trade Association - up to 70 types of various proformas of standard sales contracts. The cotton trade association had its own pro forma, etc.
In 1936, and then in 1956, 1980 and 1990. The International Chamber of Commerce has done a lot of work on the unification, informal codification and interpretation of the terms of international trade contracts, established customs, generally accepted interpretations, common foreign trade terms and commercial concepts. As a result of this work, a consolidated reference material called "Incoterms 1990" (document of the International Chamber of Commerce No. 350) was released, which is widely used in the practice of international trade, including transactions on CIF terms. Until 1980, Incoterms was published in editions of 1936, 1953, 1967, 1976.
Over the years, changes and additions have been made to the rules, taking into account the emerging practice of international trade.
"Incoterms 1990" aims to establish uniform international rules for the interpretation of the most important terms and concepts used in sales contracts in foreign trade. As noted above, these rules are not mandatory for application, but they are increasingly resorted to by participants in trade transactions who prefer clear, uniform international rules to those various vague interpretations of the same terms that still exist in different countries and can lead to misunderstandings. and disputes, accompanied by loss of time and Money.
The rules of "Incoterms 1990" have not yet been able to establish a uniform interpretation of certain concepts and terms, therefore, in such cases, they recommend using the established customs of the ports of loading and unloading.
It is established that the special terms of the contracts concluded by the parties to the trade transaction prevail over any provisions of Incoterms and that the parties, applying the rules of Incoterms 1980, can supplement or change them at their discretion. In order to avoid misunderstandings, it is recommended not to include in the contract of an international trade transaction various abbreviations of concepts that are well known to one party, since they are used in domestic trade, but may be completely unfamiliar to the other party.
CAF transactions get their name from the initial letters of the English words "cost and freight".
Under the CAF transaction, the seller must conclude a contract of carriage by sea at his own expense to the destination specified in the contract and deliver the goods on board the vessel. The responsibility for insurance lies with the buyer.
FOB transactions get their name from English expression"free on board". Under the terms of this type of transaction, the seller is obliged to load the goods on board the vessel, which must be chartered by the buyer. He must also insure the goods during transit, usually from the inland point to the port of loading and on to the final destination.
FAS transactions - from the English expression "freely along the side" or "freely along the side of the ship."
The contract of marine cargo insurance is concluded on the basis of a written application of the insured, which must indicate: the exact name of the cargo, type of packaging, number of pieces, weight of the cargo, numbers and dates of bills of lading or other transportation documents; name, year of construction, flag and tonnage of the vessel; method of cargo placement (in the hold, on deck, in bulk, in bulk, in bulk); points of departure, reloading and destination of cargo; date of departure of the ship, the sum insured of the cargo, the conditions of insurance. All these data are necessary to determine the conformity of this transportation of goods, which provide for various cargoes certain requirements for packaging, stowage on the ship, for the ship itself, etc.
These groups in one modification or another correspond to the standard conditions of the Institute of London Insurers, which are referred to as: with liability for all risks, with liability for a particular accident; no liability for damages, except in the event of a crash. They correspond to the developed groups of tariff rates.
The All Risks clause is the broadest, but by no means covers All Risks. These conditions exclude damage and loss of cargo from any kind of military operations, weapons of war, piracy, confiscation, seizure or destruction at the request of the authorities (these risks can be insured for an additional fee); the risks of radiation, intent and gross negligence of the insured or his representatives, violation of the established rules for the transportation, forwarding and storage of goods, inconsistencies in packaging are excluded; influence of hold air or special properties of the cargo; fire or explosion, if, without the knowledge of the insurer, substances dangerous in relation to explosion and spontaneous combustion were loaded onto the ship at the same time; shortage of cargo with the integrity of the outer packaging (underinvestment); damage to cargo by rodents, worms, insects; slowdowns in cargo delivery and falling prices.
The condition of insurance with liability for a private accident, unlike the first one, has a solid list of risks for which the insurer is liable. Naturally, the amount of liability of the insurer is less here. Liability under this term also excludes risks that are not covered by the "All Risks" clause.
The terms of insurance without liability for damages, except for crash cases, according to the list of insured events in which losses are payable, and according to the totality of exclusions from insurance coverage as a whole, coincide with the terms with liability for a particular accident. The difference lies in the fact that under the latter condition, the insurer, under normal conditions, is liable only for cases of total loss of all or part of the cargo, and is responsible for damage to the cargo only in the event of an accident (generally referred to as a crash) with a vehicle (vessel).
Under all three conditions, the insurer shall indemnify for losses and general average expenses, necessary and expediently incurred expenses for salvaging the cargo and for reducing the loss.
Here it is necessary to clarify the terms "private" and "general" accidents. An accident is usually understood as any breakdown that can occur with equipment and structures on land; with vehicles at sea: breakdowns, explosions, fires, ship collisions, grounding, etc.
In maritime law, the word "accident" has received a different interpretation: an accident is understood not as an incident itself, but as losses and expenses caused by this incident to a maritime enterprise. These losses are divided into general average losses, which are distributed among all participants in the maritime enterprise, and private average, which fall on the owner of the damaged property.
General average loss losses incurred as a result of intentionally, reasonably and extraordinary expenses, contributions or donations in order to save the ship, freight and cargo carried on the ship from a common danger are recognized (Article 232 of the CTM).
Thus, in order for the loss to be recognized as general average, four conditions are necessary: premeditation, reasonableness, emergency, and the purpose of the action is to save the cargo, ship and freight from general danger. If at least one of these conditions is not found, the loss will be recognized as a private accident.
The most characteristic cases of general average:
a) losses caused by throwing cargo overboard (the ship ran aground in a storm, it is threatened with death, to refloat it is necessary to lighten the ship). Art. 234 of the KTM establishes that losses “caused by the jettisoning of the ship’s cargo and accessories overboard, as well as damages from damage to the ship and cargo when taking measures for general rescue, in particular, due to the penetration of water into the hold through hatches open for ejection of cargo, or through other openings made for this”;
b) losses caused by extinguishing a fire that has arisen on the ship, but they will not include losses from burned cargo, which is a private accident of their owner;
c) losses associated with refloating the ship. If the ship is stranded for the purpose of rescue, then all expenses will be attributed to general average losses; if by chance, only those losses that were caused by measures to refloat the ship will be attributed to general average losses;
d) expenses and losses associated with the forced call of the ship in the port of refuge.
Losses in general average shall be distributed among the ship, cargo and freight in proportion to their value. Each of the insurers of cargo, ship or freight, respectively, unconditionally indemnifies the share of losses falling on it.
The institution of general average is one of the most complex in maritime insurance law.
The existence of a general average is determined by the average adjusters, who also share the costs associated with it. The calculation for the distribution of general average is called an average average and is compiled by average adjusters at the request of interested parties.
The total value of the property involved in covering the loss in general average is called contributory capital.
When drawing up an average statement in case of incompleteness of the requirements of the law, adjusters are guided by international customs of merchant shipping. The York-Antwerp Rules of 1974 are the set of such customs in the definition of general average.
All damages that do not fall within the definition of general average are classified as partial average. These losses are borne by the owner of the property on which they fell, or the one who is responsible for causing them.
The insurer, as a rule, is liable for losses only within the sum insured. However, general average losses are indemnified even in cases where the total amount of payments may exceed the sum insured.
The consignee, upon acceptance of the cargo, is obliged to reimburse the carrier for all the necessary expenses incurred by him at the expense of the consignor, and in the event of a general average, to pay an emergency contribution or provide reliable security (on the basis of a lien, the carrier may delay the release of the cargo until payment of the appropriate amount). When determining general average, the following documents are taken into account.
A written statement by the consignee, where he undertakes to pay the share of the costs falling on him in the order of distribution in general average.
A cash deposit may be made as security for general average payments.
By agreement of the parties, a bank guarantee can replace a cash deposit. In some cases, a counter-guarantee from a more reputable bank may also be required.
emergency commissioners(surveyors) draw up a document that contains a description of the causes and amount of loss in any insured event, as well as other data that make it possible to judge the presence of the insurer's liability - an accident certificate.
According to international law (Article 229 KTM), after the payment of insurance compensation, the insurer passes (within the amounts paid) the right to claim against the guilty party - right of recourse. In this case, the insured must ensure that the insurer obtains such a right in a timely manner by delegating his powers to the insurer.
Sea Protest. In the event of any incident during the voyage associated with natural forces, the captain of the ship, in order to relieve himself of responsibility for possible damage to the cargo or on the ship at the first port of arrival, submits a sea protest to the competent state authority outlining the most important circumstances of the sea incident and measures, adopted by the ship's command to prevent possible adverse consequences of such an incident. Thus, in this statement, the captain proves that the crew took all measures for the successful completion of the voyage and the safety of the cargo, and if this failed, then the elemental forces of nature are to blame and the captain protests against all claims that may be brought against him or the shipowner (Art. 286 KTM).
The captain or officer on duty enters in chronological order all the facts and circumstances related to the regulations on board the ship (about the ship itself, cargo, crew, etc.) in the ship's logbook. A separate journal is kept for the engine room, where the work of the machines, received and executed commands are recorded.
In determining the existence of general average, all these documents are of decisive importance.
So, an insurance contract concluded only on the basis of one of the above conditions, even the broadest (“All risks”), does not fully cover all the possible dangers that may occur during sea transportation. Therefore, the insured or other person, at whose risk the part of the dangers of transportation that is not covered by insurance, must take care of additional (at his own expense) insurance in addition to what is usually provided for in CIF commercial contracts.
The relationship of the parties upon the occurrence of an insured event are common with any type of insurance. The difference lies only in the need to complete a number of formalities and provide documents of various nature to confirm the existence of an insured event.
First of all, the policyholder must treat the object of insurance as if it were insured, and upon the occurrence of an insured event, take all measures to save it and preserve the damaged one (the costs for these purposes, as mentioned above, are reimbursed by the insurer), provide the insurer with the right of recourse to guilty party and promptly notify the insurer of the incident.
To receive insurance compensation, the insured (or beneficiary) is obliged to document his interest in the insured property (for example, the existence of an insurance contract), the existence of an insured event, the amount of his claim for loss.
In marine insurance, in order to prove interest in the insured cargo, it is necessary to submit bills of lading, railway bills of lading and other transportation documents, invoices and invoices, if, according to the content of these documents, the insured or his representative has the right to dispose of the cargo. When insuring freight, it is necessary to present charters and bills of lading. The presence of an insured event is confirmed by the following documents: a sea protest, an extract from the ship's log and other acts testifying to the causes of the insured event, and in the event of a ship going missing - reliable information about its departure from the last port and the expected date of arrival at the next port. To prove the amount of the claim for loss, accident certificates drawn up by the accident commissioner, examination reports, appraisal and other documents drawn up in accordance with the law and customs of the place where the loss is registered are submitted; corroborative documents for the expenses incurred, and in case of a requirement to pay a share in general average - a reasonable calculation and an average statement.
Shipowners liability insurance
With the development of merchant shipping, the ever-increasing number and variety of goods transported by sea, the expansion of the geography of trade voyages, the saturation of sea routes with various watercraft, the increasing equipment of ports with the most complex and expensive auxiliary facilities, the amount of liability of ships for possible damage (by oversight or accident) has increased. physical or moral damage to third parties.
Partially, such risks are covered by a regular maritime hull insurance contract. However, according to this contract, the insurer accepted for insurance the liability of shipowners for the collision of ships, but only within 3/4 of the amount of possible damage, and 1/4 remained at the risk of the shipowner as a kind of deductible. Therefore, the shipowners had to look for a way out of the situation that they found by uniting in a kind of organization that aimed to compensate for such losses on a collective basis. Thus, mutual societies for insuring ship hulls appeared - clubs for mutual insurance of shipowners. The form of mutual insurance consisted in the fact that the insurers - the owners of the ships created a common insurance fund, from which the losses incurred by one or another member of the club were compensated.
Protection risk insurance. Subsequently, such clubs, in addition to insuring 1/4 (25%) of the liability in case of a collision of ships not covered by contractual insurance, began to take on liability and other risks, the occurrence of which was caused by a number of historical factors. So, in 1846 in England (the historical ancestor of merchant shipping and marine insurance) an act was adopted providing for tougher requirements for shipowners in connection with their liability for damages associated with loss of life or bodily injury. The reaction to this was the creation of a number of clubs or associations to protect the interests of shipowners, accepting insurance risks associated with the operation of ships under the name "protection risks". Accordingly, the societies were called protection clubs.
Indemnity insurance. In 1870, the owner of a ship that sank with cargo near the Cape of Good Hope, after it passed by the port of destination of the cargo, was held liable for the loss of the cargo. This decision of the court prompted the clubs to take on insurance the liability of shipowners for the safety of the cargo accepted for transportation. This type of insurance protection is called compensatory insurance or indemnity insurance.
Insurance of risks of protection and compensation has long been carried out by separate clubs. The protection risks included: liability insurance in case of death and injury of ship crew, passengers, port workers; 25% (1/4) of damage caused to another ship in a collision; damage to fixed and floating objects; expenses for the removal of the remains of sunken property from the water area of ports and fairways.
The risks of reimbursement mainly included the risks of liability of shipowners for the safety of goods accepted for transportation and in general with the use of ships for the carriage of goods: various fines imposed on shipowners due to errors or omissions of the captain and crew members by customs, emigration, sanitary or local authorities, the share of general average expenses due from a ship or cargo when general average is caused by the fault or negligence of the maritime carrier.
Subsequently, clubs or associations of protection and compensation merged into single clubs of mutual protection and compensation.
In addition to carrying out the insurance operations listed above, clubs take measures, if necessary, to prevent the arrest of insured ships and issue bank guarantees for this. To protect the interests of their members, the clubs have representatives or correspondents in various ports who control the progress of loading and unloading operations and take appropriate measures in case of claims against shipowners.
Mutual liability insurance of shipowners has become widespread. Currently, there are about 70 clubs in the world, the largest of them are clubs in England, Sweden, Norway, and the USA. One of the most important principles of clubs is that they do not pursue the goal of making a profit from their operations, but are only called upon to protect their members from losses incurred.
The governing body of the club is the board of directors, elected from representatives of the shipowners. The Council meets as needed to resolve fundamental issues of insurance and financial policy.
Current work, in particular, settlements of insurance premiums, payment of losses, etc., is carried out by firms or managing firms specializing in the field of maritime law, shipping, and insurance.
The financial base of the clubs is made up of contributions from its members, from which insurance funds are formed, intended to pay for possible claims against shipowners - members of the club to cover the costs of doing business.
The amount of insurance premiums is based on the average loss ratio for a number of years and depends on the composition of the fleets that are members of a particular club - the type of vessel, its gross tonnage, navigation area, the amount of insurance liability, as well as the requirements of national legislation regarding the liability of shipowners for the actions of the ship's crew members and its agents.
Insurance premiums are divided into three categories - provisional, additional and extraordinary.
At the beginning of each policy year (which usually starts at noon on February 20 of each year and ends at noon on February 20 of the next year), the board of directors of the club, based on the calculated amounts, sets the amount of the preliminary contribution. If after the end of the operational (policy) year it becomes clear that there are more claimed claims than collected preliminary contributions, the board of directors makes a decision on making additional contributions by club members to cover the deficit.
In the event of catastrophic losses, which are not covered by the club's funds, they resort to the collection of emergency contributions.
If the case proceeds favorably, when the preliminary contributions more than cover all claims, next year's contributions will be adjusted accordingly.
The scope and types of liability of shipowners, which are covered by insurance in mutual insurance clubs, usually depend on the rules of a particular club in each individual case. Although each of these rules states that the nature and extent of insurance risks, insurance conditions can be agreed upon by the club and the shipowners, in reality this happens extremely rarely and each of the clubs adheres to the rules established by it. This is partly due to the fact that the rules take into account mandatory (mandatory) norms of national legislation that cannot be changed by agreement of the parties, as well as the fact that when the insurance conditions change in favor of shipowners, it is necessary to revise the size of the insurance premium towards its increase.
Thus, although different types of liability can be insured in mutual insurance clubs, each of the clubs limits the scope of its liability only to the risks defined in the rules of these clubs.
Mutual insurance clubs in various combinations and volumes assume responsibility for the following risks.
Liability for loss of life, bodily injury, illness and repatriation. Under this type of insurance, the club reimburses the shipowner for expenses incurred by him in connection with the funeral, hospitalization and treatment of any persons on board the ship. Compensation is also subject to losses resulting from the loss or damage of personal belongings of these persons. In this case, negligent actions or omissions on board the ship or inept handling of cargo will be considered an insured event. The costs of repatriation of the crew members of the insured vessel are also reimbursed; wages and other types of earnings not received by crew members as a result of the practical or constructive total loss of the ship; expenses for vessel deviation from the course (deviation) and in connection with the need to disembark a sick or injured crew member, as well as port expenses and shipowner’s expenses for fuel, provisions, wages, insurance and other monetary costs associated with waiting for the replacement of a retired crew member (otherwise the ship will be considered unseaworthy) to ensure the safety of the continuation of the voyage.
Liability for Collision with Other Vessels is one of the main risks insured by clubs. This means that 3/4 of the liability for collisions with other ships is covered by contractual hull insurance (hull, machinery, equipment and rigging), and 1/4 of the liability remaining at the risk of the shipowner is insured by the club. The Club insures this remaining 1/4 of the shipowner's liability, including costs and expenses associated with damage caused by a collision to any other ship, regardless of whether the shipowner's liability is insured under a hull policy that includes a collision clause. The Club may accept for insurance the liability of the shipowner in excess of 1/4 of the liability for loss to another vessel, provided that such an excess is not subject to compensation under the hull policy.
In the event of a loss subject to reimbursement by the club, the club management reserves the right to determine the actual value (insurance value) of the vessel, for which it should have been insured under the hull policy, and compensation between the sum insured and the actual (insurance) value of the vessel. The amount of loss not paid by the club is reimbursed by the shipowner.
In addition to liability insurance for collisions with other ship clubs, the obligation of the shipowner, arising from the law, to reimburse another shipowner for the costs of raising the ship if it sank, is insured; removal of the remains of a shipwreck; the cost of installing light or other signs to indicate such residues, as well as losses caused to the insured ship's port, dock, berth, jetty or other immovable or movable (except for ships) object.
If a claim for indemnification arises as a result of a collision of two ships belonging to the same shipowner, then he is entitled to indemnification from the club as if these ships belonged to different shipowners. Such a rule in insurance practice is referred to as "a clause on ships belonging to one shipowner". If both ships are to blame for the collision, then a procedure for liquidating losses is provided on the basis of counterclaims of the ships against each other.
As noted above, under a hull insurance contract, marine insurers can accept insurance not for 3/4, but for all 4/4 of liability for a collision of ships, including an amended collision clause of the Institute of London Insurers in policies.
Liability for damage caused to fixed or floating objects, - liability of the shipowner for damage caused to his ship port, dock, pier, pier, jetty, land, water or any other immovable and mobile objects, with the exception of another ship and property located on it. The scope of insurance coverage under this rule includes the liability of the shipowner for pollution of waters and coasts as a result of leakage of oil products.
Given the volume of oil and oil products transported by sea, as well as harsh international rules for the protection environment, insurance of this kind is very dangerous.
According to international rules, if an oil spill threatens to pollute a coast under the jurisdiction of any government, or otherwise creates a risk of damage, the owner of the tanker is obliged to remove the oil or pay the cost of removing it and cleaning up the coast. However, the liability of the tanker owner is limited to $100 per gross register ton of tanker capacity, with a maximum total liability of $10 million per tanker and per incident.
Suffice it to recall the catastrophic consequences of tanker accidents, which caused irreparable damage to coastal waters and the coast of some regions of France and England with spilled oil.
Of particular concern to international public organizations at the same time, they cause the transportation of oil products under the so-called flags of convenience - Panamanian, Liberian, Singaporean, etc., where the requirements of the register for the seaworthiness of ships are significantly reduced. The owners of ships flying these flags, i.e. having a home port in one of these countries and undergoing a register inspection there, along with tax benefits, they “save” on safety equipment, a qualified team, etc.
The United Nations Conference on Trade and Development (UNCTAD) in 1978 published a study from which it follows that up to 1/3 of the ships of the entire world fleet are covered by a flag of convenience.
Liability for damage to ships not caused by collision. The liability of the shipowner is insured for the loss and damage to another ship or property on it, including expenses related to it, caused by a cause other than a collision, and resulting from negligence committed in navigation or management of the ship, or as a result of other negligence expressed in action or inaction on board or in connection with the insured vessel. Risks of this kind include damage caused by incorrect maneuvering of the insured vessel, which led to grounding (in order to avoid collision) of another vessel, or its collision with a third one, or bulking up on a berth, etc. This does not include damage caused by a wave raised by the insured vessel, fire, the source of which was this vessel, an explosion that occurred on board, something falling overboard, etc.
Liability under towing contracts. The liability of the shipowner is insured, arising from the terms of the towing contract, under which his ship can be both towed and towing. Losses and damages that occur during towing and are the responsibility of the shipowner are indemnified, but only to the extent that such liability is not recoverable under hull (hull) insurance policies.
This rule proceeds from the fact that, first of all, the liability associated with the rules and conditions of entry into the respective ports, where towing is necessary or common, is insured.
Liability under warranties and contracts. Under this rule, the liability of the shipowner for damage caused to the life and health of any individuals, as well as any property, except for cargo, transported on the insured ship. This refers to contracts and guarantees associated with the hiring of cranes, lighters and other loading and unloading mechanisms and conveyances by shipowners.
Responsibility for the removal of the remains of a shipwreck. Liability of this kind is one of the significant risks to which shipowners are exposed. It is assigned without regard to the presence of their own fault and the fault of their employees. Under this type of insurance, clubs reimburse the costs of lifting, removing and destroying the remains of a shipwreck or installing lighting or other warning signs to indicate the location of the remains of the insured ship wrecked. The responsibility of the club arises in cases where the listed actions are necessary by law, and also if these costs can be recovered from the shipowner in court. From the sum of the insurance indemnity, the cost of the ship's stores, materials and the remains themselves saved as a result of lifting is subject to deduction.
Quarantine expenses. Can be insured quarantine and emergency expenses associated with the occurrence of an infectious disease on board a ship. These expenses include:
expenses for the disinfection of the ship and persons on board the ship, in accordance with the requirements of public health legislation, the rules and orders of the relevant authorities;
the cost of fuel used or the cost of towing the ship to a specially designated place where the ship must stay during quarantine, and towing the ship from such a place, including the cost of fuel consumed during the quarantine;
direct costs of calling at a place or port of refuge and leaving such a place or port, if the only reason for the call was the occurrence infectious disease on board the insured vessel.
Responsibility for the safety of the transported cargo. The Club insures the liability of shipowners for loss, damage and shortage of cargo or other property carried by the insured vessel. At the same time, club insurance rules provide for the possibility of choosing insurance coverage:
a) liability for the loss and shortage of cargo;
b) liability for damage to the goods.
In practice, shipowners usually insure the risk of non-safety of cargo in full on the terms of both parts.
When insuring liability for damage to cargo, the shipowner has the right to compensation for additional costs for unloading, selling damaged cargo and selling depreciated goods in excess of the costs that the shipowner usually incurs under the contract of carriage. Additional costs incurred by the shipowner are reimbursed by the club in the amount of 50%, provided that the shipowner cannot recover them from anyone else.
The Club reimburses expenses for damage to cargo or other property, as well as in connection with this cargo or property transported by other means of transport, but for which the shipowner is responsible under the terms through bill of lading or the relevant contract of carriage.
Loss of freight is recoverable only if the freight is included in the amount of the claim paid by the shipowner.
Non-receipt of the share due from the cargo due to general average. The club may insure the risk of receiving, in general average or salvage reward, a share falling on the cargo or another participant in the maritime enterprise, which the shipowner had the right to receive, but did not receive due to a violation of the contract of carriage or chartering.
Share of the vessel in general average. Insurance of the vessel's share in general average and salvage costs is additional. It comes into force in the event that the general average premiums insured under the hull policy are not refundable in full, since when distributing general average expenses, the average adjuster may establish a discrepancy between the actual value of the ship and the sum insured, namely, when the insured value of the ship exceeds its insured value. amount. In this case, the shipowner under the hull policy will only receive a proportionate share of the amount due to him in general average, and the club will have to reimburse the difference.
Penalties. Clubs accept for insurance various fines imposed on the shipowner by the relevant authorities, courts, arbitrations and other competent organizations: for non-compliance on the ship with the safety rules established in accordance with the laws, decrees, instructions of any country; for non-delivery of cargo, delivery of excess cargo and non-compliance with cargo declarations and other documents on the vessel and cargo; for the smuggling of goods by the captain, crew members, agents and other persons for whose actions the captain of the ship is responsible; for violation of customs laws and regulations relating to the design, its modification and re-equipment of the ship; for violating immigration laws.
Franchise application procedure. By accepting for insurance the possible liability of shipowners for various risks, the clubs leave it to the responsibility of their insurers to satisfy minor losses as a deductible.
Thus, the costs of shipowners in connection with the illness of crew members, including the costs of repatriation and changing the course of the ship (deviation), are reimbursed in the amount by which they exceed $ 120 in each individual port for ships with a capacity of 2,500 gross register tons or more and $60 for ships under 2,500 gross register tons.
For liability for loss, damage to cargo and liability in connection with cargo, for the share of cargo in general average and for salvage expenses, the shipowner is compensated for losses for deduction of $ 0.12 per gross register ton of the vessel's capacity or $ 720 for each general cargo carried on a ship in one voyage (whichever is the lower) and $0.12 per gross register ton or $240 for non-general cargo (whichever less amount).
For all types of fines, the first $120 per fine is not reimbursed.
The total amount of club payments per incident is also limited. So, for example, for the tanker fleet in case of collision, damage to floating and stationary objects, damage or shortage of cargo and legal expenses, the club's liability limit is $35 million. An additional limit of $20 million is set for the risk of water pollution by oil products. In addition, tanker owners, who are parties to the agreement on compensation for the cost of pollution of the coastline with oil products, for their part, limit their liability under this agreement to $15 million. For dry cargo ships, the clubs' liability limits are much lower and range from 50 thousand to 6 million dollars, depending on the lines they serve.
Consideration of claims. In the event of an insured event, the shipowner must inform the club or its agents about the incident and submit accident certificates, expert examination reports, calculations, justifications and other documents related to the loss. It remains the responsibility of the shipowner to take all measures to prevent or reduce loss and possible costs. container transport service(CTS) required the creation of specialized rolling stock: container ships, extended four-axle railway platforms for the simultaneous transportation of three 20-foot containers, car semi-trailers and tractors; construction of specialized container stations and terminals (berths) equipped with high-capacity reloading facilities of large capacity, special container trucks, etc.
Container transportation has become an independent type of cargo transportation and is now widely provided with the possibility of continuous sequential transportation by sea, rail and road vehicles.
For the transit of such large-tonnage containers through the territory of our country, an international trans-Siberian container line has been created.
Container insurance has certain specifics. The objects of insurance are the containers themselves as containers for the goods placed in them, however, they are part of the ship, are intended for subsequent removal from the ship at the transshipment points and transportation of the goods contained in them by other means of transport or for storage and, therefore, cannot be insured for ship insurance conditions. Their insurance is carried out under special insurance contracts, usually concluded on standard English terms. The amount of insurance coverage may vary. Containers can be insured both on all-risk terms and on narrower terms, covering the risk of loss of containers, the share falling on containers in general average, the costs of saving containers, and preventing and reducing losses.
With a relatively low cost of containers - from 2 to 10 thousand dollars per piece, depending on the size and material of manufacture - their total cost on board an medium-capacity container ship is 3-4 million dollars, and on large ships it reaches 10 million dollars ., which is already a significant risk.
It is believed that the greatest depreciation of the container occurs in the first years of operation and amounts to 30% after the first year, another 20% after the next two years and another 10% each after three and five years.
Taking on insurance the risk of loss or damage to containers, insurers usually limit their liability for one shipment to certain limits both for the time of sea transportation and separately for the time of land transportation. In addition, to release the insurer from minor losses, a franchise is applied in various amounts of about 100 - 500 dollars. An indispensable condition for insuring containers is the presence of a clear image of serial numbers and other identification marks on them.
When insuring containers against all risks, the insurer assumes responsibility within the stipulated limits for the risks of their complete loss and damage during the insurance period, including the carriage of containers on deck.
The insurer shall not be liable for natural wear and tear or gradual deterioration of the quality of containers, as well as for their loss, damage and possible expenses caused by a flight delay or the natural properties of the insured object.
The liability of the insurer for the loss of the container mechanisms occurs in the event of the complete destruction of the container, however, in some cases, the liability of the insurer for their damage may be provided.
If the container is damaged, but the damage did not lead to its complete destruction, the amount of insurance compensation should not exceed the reasonable cost of its repair. If there was a subsequent total loss of the damaged container, the repair of which was not made before its destruction, then the insurer is only responsible for the total loss of the container and should not pay any amounts for the failed repair, even if these amounts were confirmed earlier.
In cases where the cost of restoring the container exceeds its sum insured, it is considered that the container has suffered a complete structural loss and, accordingly, the loss is indemnified as for a total loss.
General average and salvage costs are generally recoverable in accordance with the laws of the country of the owner of the container or, if provided for in the charter agreement, in accordance with the York Antwerp Rules. Moreover, if the indemnity amount exceeds the insurance value of the containers, the insurer undertakes to pay the amount of the indemnity.
If the charter agreement includes a clause on mutual fault in a collision, according to which the owners of containers are obliged to compensate the carrier for the part of the losses falling on the containers recovered from the carrier by the owners of another ship, the insurer, under the terms of insurance of containers “against all risks”, undertakes to compensate the policyholders (container owners) for the paid them the amount, but only in the proportion in which the loss is subject to compensation under the terms of insurance. A special clause stipulates that this insurance should not serve as a source of profit for carriers or depositaries.
The transfer of rights or interest under the policy or the transfer of amounts payable under the terms of insurance cannot be carried out and recognized by the insurer without a dated and signed by the policyholder or his representative of the appropriate notice of such transfers and an endorsement on the policy before the payment of the loss or the return of the insurance premium.
In case of sale (alienation) of the container, the insurance shall be considered canceled from the date of its sale. When the insurance contract is canceled by the insurer, a proportional share of the net premium is refundable, and when the contract is canceled by the policyholder, the premium agreed by the parties is refundable.
The special all-risk container insurance clause releases the insurer from liability for losses caused by confiscation, seizure, seizure, prohibition or detention and their consequences, as well as attempts to perform such actions. In addition, within the meaning of this clause, the insurer shall not be liable for the consequences of hostile actions or military operations, regardless of whether the outbreak of hostilities has been announced or not.
The insurer is also released from liability for losses associated with the consequences of civil wars, revolutions, armed uprisings, rebellions, civil conflicts and piracy.
The insurer shall not be liable for the destruction or damage of containers, as well as possible expenses for losses caused directly or indirectly by ionizing radiation and radioactive contamination from nuclear fuel or nuclear fuel combustion waste; exposure to radioactive, toxic, explosive and other properties of nuclear compounds and their components.
The conditions for insurance of containers against all risks also provide that the insurer is not responsible for the loss or damage to containers and for possible expenses for losses caused by confiscation, nationalization, seizure, requisition and caused by strikers, participants in lockouts or persons taking part in labor conflicts, uprisings and civil unrest.
Thus, as usual for other types of insurance, the entire range of risks falling under the concept of military and strike risks is excluded from insurance coverage. By agreement of the parties, some of them may be included in the insurance coverage for an additional premium.
The conclusion of the insurance contract is made on the basis of a written application of the insured, which must contain basic data about the object: type of container, volumetric indicators, cost, name of the carrier ship, date of departure of the ship on the voyage, point of departure, destinations and transhipments, etc.
The burden of proof that the loss or damage to the insured container was caused by exposure to hazards covered by insurance lies with the policyholder. Unless otherwise provided in the insurance contract, losses from damage to containers are indemnified in an amount not exceeding the cost of restoring damaged or lost parts, minus the percentage of natural wear and tear of these parts at the time of the accident.
To resolve disputes that have arisen, the contract provides for the place and procedure for arbitration.
When insuring containers on other terms, which are commonly called “against total loss”, only the losses of containers are indemnified, as well as the share falling on containers in general average, the costs of salvaging containers and preventing or reducing losses payable under the terms of insurance. Costs for the repair of containers (except in cases of general average) under this insurance condition are not subject to compensation. Otherwise, both types of conditions are the same.
When insuring containers (accepting liability and setting the premium rate), it should be borne in mind that the cost is steadily increasing every year.
As with all work with heavy cargo, work on the processing, transportation, transshipment and storage of containers may be associated with causing material or physical damage to third parties, which, by law, must be compensated by the guilty party.
Therefore, in addition to insuring containers against loss or damage, insurers insure the risk of civil liability of owners or lessees of containers for damage that may be caused to the person or property of third parties in connection with the use of containers. Coverage is provided under the terms of civil liability insurance, taking into account the specifics of the object of insurance.
At the same time, insurers usually limit their liability by setting certain limits when accepting risk. Limits are set separately: for injury or death of one person; for the destruction or damage to the property of third parties; for causing injury or death to several persons and / or destruction or damage to the property of several persons in one insured event.
Foreign economic activity in most cases is associated with many risks that can lead to damage to participants in foreign economic cooperation. External economic risks are inextricably linked with operations in foreign trade, with the repayment of foreign loans, with the transportation of export-import goods, with the holding of international exhibitions, with the interests of foreign legal entities and individuals in our country, with the activities of foreign and joint ventures, with the implementation of construction and installation works by foreign enterprises in our country.Foreign economic activity insurance is a complex of types of insurance that provides protection against risk for participants in international cooperation.
There are two main participants in the insurance transaction: the insured and the insurer.
Policyholder - a party to an insurance contract that insures its own property interest or the interest of a third party. Under the insurance contract, the insured is obliged to pay the insurance premium to the insurer for the obligations assumed to compensate the insured for the loss upon the occurrence of an insured event.
An insurer is an organization (legal entity) that provides insurance and assumes, for a certain fee, an obligation to compensate the insured or another person in whose favor the insurance is concluded for losses incurred as a result of the occurrence of an insured event stipulated in the contract, or to pay the sum insured.
Upon the occurrence of an insured event, the insured (insured person, beneficiary) is paid a certain amount of money, called the insurance payment.
The following state organizations dealing with insurance are subordinate to the Ministry of Finance of the Republic of Belarus:
- Belarusian Republican Unitary Insurance Enterprise "Belgosstrakh", Minsk;
- Republican Unitary Enterprise "Belarusian National Reinsurance Organization", Minsk;
- Belarusian republican unitary enterprise of export-import insurance "Beleximgarant", Minsk.
- direct international contractual operations;
- direct insurance;
- intermediary insurance;
- international reinsurance.
- personal insurance (from accidents and illnesses, from medical expenses, etc.);
- property insurance (insurance of export-import cargoes, insurance of vehicles carrying export-import cargoes, aircraft insurance, property fire insurance, etc.);
- liability insurance (owners of motor vehicles, aircraft owners, road carriers, ship owners, organizations that create increased danger, etc.).
Coinsurance is one of the distribution methods i
large property risks, but is rarely used for liability insurance. The implementation of this method is simple and suitable for most cases, although there are
there are also problems. First, in case of large losses, all co-insurers will send separate checks. This can be burdensome if a large number of insurers are involved in coinsurance. Secondly, the intermediary, when placing a large risk, will have to contact big amount different co-insurers, each of which is ready to cover only part of the risk in accordance with its capacity.
MINISTRY OF SCIENCE AND EDUCATION OF THE RUSSIAN FEDERATION
GOU VPO ROSTOV STATE ECONOMIC UNIVERSITY "RINH"
Department of International Economic Relations
Course work
by discipline: "Organization of management of foreign economic activity"
on the topic: "Insurance in foreign economic activity of enterprises"
Completed by: ______________ Shonta Vyacheslavovna
Student gr. 142 - ME Urubzhurov
date, signature
Checked by _______________ Oksana Nikolaevna
Candidate of Economics Associate Professor Voronkova
Rostov-on-Don- 2010
Introduction
1. The essence and role of insurance in the foreign economic activity of enterprises
1.1.Economic essence of insurance in foreign economic activity of enterprises
1.2. Insurance functions in the development of foreign economic activity of the company
2. Types of insurance services for foreign economic activity participants in world and Russian practice
2.1. Main types of foreign economic activity insurance and their characteristics
2.2. Terms of cargo - insurance in foreign economic activity
3. Problems of interaction of participants in foreign economic activity with insurance companies and optimization of methods and conditions of insurance schemes
3.1. Conditions and problems of foreign economic activity insurance in Russia
3.2. Scheme of interactions between foreign economic activity participants and insurance companies
Conclusion
List of sources used
Application
INTRODUCTION
In a market economy, business entities conduct business at their own risk and must ensure the financial stability of the enterprise on their own.
Risks are integral part enterprise activities. The amount of profitability and the degree of financial stability depend on the ability of the entrepreneur to foresee the risk, assess its consequences and manage it effectively. An entrepreneur objectively needs insurance protection of property and other property interests.
As the economy stabilizes and develops, the need for insurance naturally increases, which is expressed in the transition from episodic insurance, insurance of individual risks to the system of insurance protection of the enterprise and the organization of corporate insurance.
Insurance in foreign economic activity is associated with servicing the specific insurance interests of exporters and importers of goods and services. The increasing number of international trade transactions in recent years, including transactions between parties from the CIS countries, has led to the complication of the forms of contracts.
A civilized business, especially with a contractual form of relations and the absence of a state property monopoly, is simply unthinkable without insurance. It is impossible to completely eliminate risks, even with the most perfect form of contractual relations. They can only be resisted. different ways. Insurance is rightfully one of these methods - a mechanism by which the risk is transferred to the insurer.
The insurance market implies not only competition, but also the interaction of insurance organizations in developing agreed insurance conditions, carrying out organizational and technical measures to prevent damage, primarily in transport insurance, where the fundamental thesis “insurance is a business without borders” is most clearly manifested.
The need to consider the main mechanism of insurance of foreign economic activity of enterprises is quite relevant at the moment. Since without insurance it is impossible for the intensive development of the world market as a whole. The study of this problem was carried out by such scientists as professors Rudakov A.P., Nikitina T.V., Zaitseva M.A. and others. In their works, they touched upon the very system of insurance of foreign economic activity of enterprises and insurance of commercial and financial markets. Foreign experience shows that enterprises insure up to 95% of potential risks. Such an organization of insurance protection of corporate interests requires a significant diversion of financial resources of enterprises, therefore, the organization of insurance relations on a non-commercial basis, which is provided by mutual insurance, becomes a financially acceptable form of insurance protection. Most Russian insurance companies make little use of the experience accumulated by Western countries and therefore their activities are not entirely effective. The mechanism of transport insurance for trade with the CIS countries has been poorly developed. As a result, this leads to disunity, misunderstandings, disputes and, as a result, litigation.
Due to the fact that insurance of foreign economic activity is a very diverse area of insurance, the main purpose of this work is to consider the mechanism of insurance in the foreign economic activity of enterprises, which is widely used in international trade and to find the best methods and conditions for insurance schemes. The first chapter discusses the general mechanism of insurance in the foreign economic activity of enterprises and its role and significance in world practice. In the second chapter, the main types of insurance are considered, and the greatest attention is paid to cargo - insurance in foreign economic activity. And in conclusion, I considered the problems of interaction between foreign economic activity participants and insurance companies and the development of foreign economic activity insurance in Russia.
I have the following tasks term paper:
1. Reveal the essence and specifics of insurance in the foreign economic activity of enterprises and its functions
2. Classify the main types of insurance
3. Determine the conditions of cargo - insurance in foreign economic activity
4. Analyze the development of foreign economic activity insurance in Russia
5. Consider the problems of foreign economic activity participants with insurance companies and justify ways to optimize them
1. The essence and role of insurance in the foreign economic activity of enterprises
1.1 economic essence of insurance in foreign economic activity of enterprises
Commercial, entrepreneurial activity in the foreign market is inevitably associated with dangers that threaten various property interests of a participant in foreign economic activity (FEA). In other words, we can say that foreign economic activity is associated with various kinds of risks. Under risks FEA refers to possible adverse events that may occur and as a result of which losses or property damage may occur to a participant in FEA.
To combat risks, that is, to reduce possible damage, an insurance mechanism is used. Insurance in foreign economic activity means insurance of foreign economic risks and is a complex of types of insurance protection for the interests of domestic and foreign participants in various forms of international cooperation, which includes insurance of export-import cargo; vehicles carrying them; export credits; international trade and industrial and other exhibitions. Relevant insurance transactions are carried out in national and freely convertible currency.
Insurance in international business, although it does not require separate licensing, still has some features due to the variability of the business environment during the time lags of the transaction and realized in the form of commercial risks. Among them:
Changes in the price of goods after the conclusion of the contract;
opportunistic behavior of one of the parties to the contract;
financial destabilization of one of the parties to the contract;
• instability of exchange rates (inflation and deflation);
harmonization costs (the need to take into account the legislation different countries, international legal regulations, etc.).
The purpose of insurance of a subject of the economy is protection against financial consequences (property damage) due to the occurrence of adverse events.
The economic essence of insurance lies in the creation of a reserve (insurance) fund, deductions to which for an individual insured are set at a level significantly less than the amount of expected loss and, as a result, insurance compensation.
The greatest effect can be achieved through a combination various methods risk management: insurance, hedging, application of modern management methods, forms and methods of calculation in international business operations.
The methods and tools of insurance have been transformed into the following classification of insurance in international business:
1. According to the insurance systems used:
insurance at the actual value of property used in property insurance and provides insurance protection in the full amount of financial damage caused to the insured types of assets of economic entities;
· insurance under the proportional liability system provides only partial insurance coverage for certain types of risks;
insurance under the system of the first risk, which is understood as the financial damage incurred by the insured upon the occurrence of an insured event, estimated in advance when drawing up an insurance contract as the amount of the sum insured specified in it;
insurance using an unconditional deductible, in which the insurer is not liable for financial damage incurred by an international business actor as a result of an insured event, if the amount of this damage does not exceed the amount of the agreed deductible.
2. By forms of insurance:
mandatory;
voluntary.
3. In terms of insurance volumes:
complete;
partial.
Legally, for most types of insurance, the conclusion of contracts is voluntary. Almost all large foreign enterprises have special divisions. They develop comprehensive programs aimed at minimizing possible damage. For example, the largest German company Hoechst (HoechstAG) has an insurance department in the management structure of 35 people. A significant part of the work of these specialists, who represent only the centralized organizational service of risk management, falls on foreign markets. This is due to the fact that, producing products worth more than 50 billion German marks, 80% of products are sold abroad (in almost all countries of the world). As an insurance premium, the concern pays over 300 million marks to various insurance companies. Approximately 40% of these amounts are accounted for by two own insurance companies (agencies) created by the enterprise and controlled by it.
In order to stimulate exports, the state may participate in the export credit insurance system.
Insurance against commercial risks in foreign trade activities is carried out on a voluntary basis under insurance contracts with Russian or foreign insurers (legal entities).
Commentary on Article 27
The commented article is devoted to the organization of insurance business in the field of foreign trade. In accordance with part 1 of this article, insurance services in foreign trade activities on the territory of the Russian Federation are carried out in accordance with federal laws on insurance activities. The main acts of legislation on insurance activities in Russian Federation are the Civil Code of the Russian Federation (Chapter 48) and the Law of the Russian Federation of November 27, 1992 N 4015-1 "On the Organization of Insurance Business in the Russian Federation" (until December 31, 1997, this Law was called the "Law of the Russian Federation" On Insurance ").
Insurance can be of great importance in organizing foreign trade activities, with the aim of protecting foreign trade participants from accidental, but probable losses.
A necessary condition for the emergence of insurance relations is the property interest of participants in foreign trade activities in meeting their material needs associated with the occurrence of random but probable events. Damage to the property interests of foreign trade participants can be expressed in the destruction or partial damage to their property, the emergence of unforeseen obligations arising from the possession of this property or activities for its use, as well as in connection with the loss of income (profit) due to accidental, but probable events. It should be noted that the current legislation does not allow insurance of the following interests:
- unlawful interests;
- losses from participation in games, lotteries and betting;
- Expenses that a person may be forced to pay in order to free the hostages.
The damage caused to the property interests of participants in foreign trade activities can be caused by various reasons: from their own negligence to really unforeseen circumstances. The possibility of such unforeseen circumstances occurring is called risk. The presence of risk is the second necessary condition for the emergence of insurance relations.
It is natural to assume that any participant in foreign trade activity is interested in the existence of sources of compensation for the losses incurred, therefore, we can talk about the existence of a special insurance interest due to the property interest of business entities in connection with the possible infliction of property damage to them. Special organizations - insurers - are called upon to provide for the needs of participants in foreign trade activities in insurance protection.
Insurance business is a special type of economic activity associated with the redistribution of the risk of damage to property interests among insurance participants (insurers), carried out by specialized organizations (insurers) that ensure the accumulation of insurance premiums (premiums), the formation of insurance reserves and the implementation of insurance payments in case of damage to insured property. interests. At the same time, the redistribution of risks among policyholders should be understood as a special process in which the potential risk of damage to the property interests of each policyholder is distributed to all and, as a result, each policyholder becomes a participant in compensation for the actual damage caused. The key point in such relations is the payment of the insurance premium (premium) to the insurer, which ensures the organization of the redistribution process by creating a special monetary fund (insurance fund).
However, this does not mean that with a lack of collected insurance premiums, the insurer is free from compensation for damage caused to the economic entity. The peculiarity of the insurance business as a type of business lies precisely in the fact that it has a certain entrepreneurial risk, due to the obligation of the insurer to compensate for the damage agreed in advance for the reasons for the occurrence and amount, including at its own expense.
Insurance is carried out in cases where the probability of occurrence of risks can be assessed and there are certain financial guarantees for compensation of damage from the insurers.
The insurance business is connected with ensuring the insurance protection of the carriers of property interests - insurers - by redistributing the insurance risks associated with their activities. Such a redistribution is possible only in relation to risks - random events, the occurrence of which entails harm to the life and health of citizens or damage to property, property interests of citizens and legal entities and is characterized by both randomness and the likelihood of their occurrence.
Due to the accidental occurrence of an insured event, reliable events are excluded from the number of risks that can be accepted for insurance. For example, it is difficult to imagine the possibility of carrying out insurance in case of January 1 or astronomical sunrise. At the same time, the potential risk should be characterized by a certain probability of its occurrence, based on the actual data of previous experience. The absence of such data may make it difficult or impossible to assess the likelihood of such an event occurring in the future and its possible financial consequences (damage), which, in turn, will not allow the distribution of damage to all insurers, i.e. determine the share of each of them in the formation of the total insurance fund created to compensate for damage.
Insurance is associated with compensation for damage (harm) caused to the property interests of the insured in cash. The practice of carrying out insurance has developed an optimal form of such relations with the participation of specialized organizations (insurance organizations) that form insurance funds from the contributions of policyholders and ensure insurance payments.
Thus, speaking about insurance as a system of economic (financial) relations, the following main features should be distinguished:
- random, but probable nature of the appearance of property needs, for which insurance is carried out;
- creation of a special cash fund (insurance fund) to meet these property needs;
- targeted use of the insurance fund to cover and prevent property needs, for which insurance is carried out;
- isolation of the redistribution of the insurance fund among the persons involved in its formation;
- repayment of the insurance fund to the persons who participated in its formation, upon the occurrence of events for which insurance was carried out, in an amount sufficient to cover their needs.
The current legislation distinguishes four main types of insurance:
- Property insurance, the object of which is the interest of the owner or other owner of the thing in preserving its value. Property insurance is possible only if the insured or beneficiary has an interest in preserving the insured property.
- Legal liability insurance. The current legislation distinguishes two types of liability insurance: liability insurance for causing harm and liability insurance under the contract. Liability insurance under the contract is allowed only in cases provided for by law. Under a liability insurance contract, only the liability risk of the insured itself can be insured.
- Business risk insurance. Under a business risk insurance contract, business risk can only be insured by the insured himself and only in his favor.
- Personal insurance, the object of which is the property interests of the insured, the insured person or the beneficiary, related to the life and health of the insured person.
In addition to the listed main types, the current legislation provides for five special types, which include:
- health insurance;
- pension insurance;
- deposit insurance;
- marine insurance;
- insurance of foreign investments against non-commercial risks.
The significance of the allocation of special types of insurance lies in the fact that the general provisions on insurance are applied to them in a subsidiary manner, that is, unless otherwise provided by a special law.
When carrying out foreign trade activities, all of the listed types of insurance can take place, but insurance of property, liability and entrepreneurial risks prevails.
Insurance is the subject of regulation of various branches of law. So, actually insurance relations are regulated by the norms of civil law. The relations that develop in the process of exercising insurance supervision are the subject of administrative law. The financial law governs relations regarding compulsory insurance and ensuring the financial stability of insurers.
The legislation on insurance activities is based on general legal principles, as well as the principles of civil law. However, it is also characterized by the presence of special principles, among which it should be noted:
- prevention of insurance of illegal interests;
- prevention of unjust enrichment of the insured (beneficiary) at the expense of the insurer;
- Priority of voluntary insurance over compulsory insurance.
Those interests of citizens and organizations, the implementation of which entails harm to the current legal order, are recognized as illegal. Insurance contracts entered into to ensure such interests are void.
Unjust enrichment of the insured (beneficiary) at the expense of the insurer may take place in the case when the insured (beneficiary) does not have an insurable interest when concluding an insurance contract, i.e. the occurrence of an insured event will not entail the emergence of property needs for him, which could be provided with the help of insurance. Contracts entered into by the policyholder without an insurable interest are also invalid.
Participants in foreign trade activities must independently determine those of their needs that could be provided with the help of insurance. Therefore, voluntary insurance should prevail. However, there are a number of interests of great public importance, in which the state is interested. In these cases, the policyholders are obliged to conclude an insurance contract on the terms specified by law (compulsory insurance). It should be noted that nevertheless compulsory insurance is an exception and can be carried out only in cases specially established by federal law. An example of compulsory insurance in the field of foreign trade activities is compulsory liability insurance for car owners, air carriers, etc. At the same time, it should be noted that, according to the general rule, enshrined in part 3 of the commented article, insurance of foreign trade risks is voluntary.
The legal form of insurance is an insurance obligation.
The parties to the insurance obligation are the insurers and insurers. Under the policyholder in a broad sense understand a capable individual or legal entity that has entered into an insurance contract with the insurer or is such by virtue of law (in certain types of compulsory insurance). The policyholder has the right to conclude an insurance contract in favor of third parties (beneficiaries) and in these cases is not entitled to receive insurance payment under the insurance contract upon the occurrence of an insured event or this right is limited by the rights of the beneficiary. The insurer is a legal entity of any organizational and legal form permitted by the current legislation, created for the purpose of carrying out insurance activities and having a state license for the right to conduct such activities.
The law on the organization of insurance business in the Russian Federation limits the circle of insurers to Russian legal entities only, i.e., unless otherwise provided by law, foreign insurers are not entitled to carry out their activities on the territory of the Russian Federation. However, part 3 of the commented article allows the participation of foreign insurers in insurance of foreign trade risks.
Relations between the insured and the insurer, called insurance, arise in connection with the existence of an insured interest in the insured in providing insurance protection for his property or other property interests. The prerequisite for the emergence of insurance relations is the insurance risk as a probable and random event, upon the occurrence of which damage may be caused to the insured property interests of the insured.
Insurance relations may arise on the basis of the voluntary will of the parties or by virtue of the law, which provides for the obligation of the insured to conclude an insurance contract for a certain type of property, liability or other property interests. In the Russian Federation, such insurance is called compulsory and can only be carried out by virtue of federal law. With regard to foreign trade activities, insurance is voluntary.
The obligations of the insured and the insurer related to the insurance of certain property interests are the content of the insurance obligation. The basis for its occurrence is an insurance contract, which is concluded in writing. The current legislation distinguishes two independent types of insurance contracts: a property insurance contract, through which property insurance, legal liability insurance and business risk insurance are mediated, and a personal insurance contract, which is a legal form of personal insurance. Civil law provides that a contract may be considered concluded if an agreement has been reached between the parties on its essential terms. The essential terms of a property insurance contract are: the object of insurance, the amount of the sum insured, the insured event and the term of the contract; the following conditions are essential for a personal insurance contract: the insured person, the amount of the sum insured, the insured event and the term of the contract.
The sum insured in the insurance contract determines the maximum amount of the insurer's monetary obligations to compensate for property damage caused to the insured (insured person) or to cover his other needs.
The insurance premium is the price of the insurance service, i.e. the amount of money upon payment of which the insurer accepts the risk for insurance. The amount of the insurance premium under the insurance contract depends on the object of insurance, the sum insured, the amount of insurance liability, the degree of risk, the term of insurance and other factors affecting the determination of the amount of the insurer's monetary obligations under the insurance contract. As a rule, the insurance contract comes into force only after the insured pays the insurance premium in full or part of it (insurance premium) stipulated by the contract, i.e., unless otherwise provided by agreement of the parties, the insurance contract is real.
The amount of money payable to the insured by the insurer upon the occurrence of an insured event on the terms and in the manner prescribed by the insurance contract or the law (in compulsory insurance) is called the insurance payment: in case of property insurance, the insurance payment is called "insurance compensation", in personal insurance - "insurance provision "(in the form of an insurance sum, a lump sum, an annuity, a pension, etc.).
The demand for insurance services is determined by the insured interest of the insured. The existence of an insurance company (insurer) capable of providing the necessary insurance coverage is necessary to conclude an insurance contract that allows providing insurance protection for the property interests of the insured. The variety of insurance interests of policyholders, on the one hand, and a large number of insurers, on the other, form the insurance market.
At the same time, the more difficult the assessment of the insured risk and the object accepted for insurance, the more significant role in the conclusion of the insurance contract between the insured and the insurer is played by the insurance intermediary, whose functions in insurance, as a rule, are performed by insurance agents and insurance brokers.
The insurance agent acts on behalf of the insurer and is authorized to conclude insurance contracts on its behalf. He acts on the basis of an agreement concluded between him and the insurer.
An insurance broker is an independent legal entity or an individual entrepreneur who has a license (permission) to conduct insurance intermediary operations. An insurance broker acts on its own behalf, but on behalf of and in the interests of the insured or in reinsurance - in the interests of the insurer for direct insurance.
For their activities, intermediaries receive a commission as a percentage of the amount of the insurance premium (less often the sum insured) paid by the insured when concluding the insurance contract.
Of no small importance in the organization of insurance are reinsurance companies that accept part of the insured risk from the insurer for a fee. The greater the risk, the more diversified the system of reinsurance contracts concluded between the insurer and the reinsurer should be. The activity of the reinsurer, however, is not limited to ensuring the reinsurance of a part of the risk accepted for insurance by the insurer. Risk diversification through reinsurance is a kind of secondary risk distribution. Thanks to it, the distribution of losses among insurance operations becomes stable, free from significant fluctuations in insurance payments, and thus provides a more reliable basis for the solvency of the insurer.
Another way to redistribute insurance risks among several insurers is an insurance pool. It is a kind of simple partnership. When the insured transfers any risk for insurance to the insurance pool, he concludes an insurance contract simultaneously with all insurance organizations included in it, which bear joint and several liability to the insured.
Insurance is an object of state regulation. The regulatory function of the state in insurance can be manifested in various forms:
- adoption of legislative acts regulating insurance;
- establishment of compulsory insurance in the interests of society and certain categories of its citizens;
- implementation of a special tax policy;
- establishment of various kinds of benefits to insurance companies to stimulate this kind of activity;
- Creation of a special legal mechanism providing supervision over the functioning of insurance companies.
The implementation of the regulatory function of the state, as a rule, is assigned to a special body (special structure), the main task of which is the implementation of state insurance supervision (control). A similar structure exists in many countries, including Russia.
Law of the Russian Federation of November 27, 1992 N 4015-1 "On the organization of insurance business in the Russian Federation" established that state insurance supervision in the territory of the Russian Federation is carried out by a specially authorized federal executive body, which is currently the Ministry of Finance of the Russian Federation. For the direct implementation of insurance supervision and the implementation of its functions, the Department of Insurance Supervision was created within the framework of the Ministry of Finance of the Russian Federation.
According to the Law on the Organization of the Insurance Business, state insurance supervision was established to ensure compliance with the requirements of the legislation of the Russian Federation on insurance, the effective development of insurance services, the protection of the rights and interests of policyholders, insurers, other interested parties and the state. Within the established competence, the Ministry of Finance, as an insurance supervisory body, is called upon to regulate the single insurance market of the Russian Federation by establishing general requirements for licensing and maintaining the state register of insurance organizations, control over ensuring the financial stability of insurers, accounting and reporting, insurance methodology, inter-industry and inter-regional coordination on insurance issues.
In their activities, the Ministry of Finance of the Russian Federation and the Insurance Supervision Department, which is part of it, are guided by the Constitution of the Russian Federation, federal laws, regulations adopted by the President of the Russian Federation and the Government of the Russian Federation, carrying out their activities in cooperation with other federal executive authorities, executive authorities of the constituent entities of the Russian Federation, local authorities, public associations, other organizations and citizens.
The main functions of insurance supervision include:
- issuance of licenses to insurers to carry out insurance activities;
- maintaining a unified State register of insurers and associations of insurers, as well as a register of insurance brokers;
- control over the validity of insurance rates and ensuring the solvency of insurers;
- establishment of rules for the formation and placement of insurance reserves, indicators and forms of accounting for insurance operations and reporting on insurance activities;
- issuance, in the cases provided for by this Law, of permits to increase the size of the authorized capital of insurance companies at the expense of foreign investors, to make transactions with the participation of foreign investors on the alienation of shares (stakes in the authorized capital) of insurance companies, as well as to open branches by insurance companies with foreign investments ;
- development of normative and methodological documents on the issues of insurance activities referred by this Law to the competence of the federal executive body for supervision of insurance activities;
- generalization of the practice of insurance activities, development and presentation in in due course proposals for the development and improvement of the legislation of the Russian Federation on insurance.
To implement the listed functions, the federal executive body for supervision of insurance activities is endowed with the following rights:
- receive from insurers the established reporting on insurance activities, information on their financial situation, receive information necessary for the performance of the functions assigned to it from enterprises, institutions and organizations, including banks, as well as from citizens;
- carry out inspections of compliance by insurers with the legislation of the Russian Federation on insurance and the reliability of the reports submitted by them;
- if violations of the requirements of this Law by insurers are detected, give them instructions to eliminate them, and in case of failure to comply with the instructions, suspend or restrict the licenses of these insurers until the violations are eliminated or make decisions to revoke licenses;
- apply to the arbitration court with a claim for the liquidation of the insurer in the event of repeated violation by the latter of the legislation of the Russian Federation, as well as for the liquidation of enterprises and organizations that carry out insurance without licenses.
The Ministry of Finance of the Russian Federation in the field of state insurance supervision became the assignee of the Federal Service of Russia for Supervision of Insurance Activities.
Currently, the process of norm-setting activities in the field of state regulation of insurance is quite active and successful. Its beginning was laid by the Russian Federal Service for Supervision of Insurance Activities. So, she adopted such important acts as the Conditions for Licensing Insurance Activities in the Russian Federation dated May 19, 1994; Rules for Licensing the Activities of Insurance Medical Organizations Carrying out Compulsory Medical Insurance, dated March 29, 1994 N 251; Regulations on state registration of associations of insurers dated April 26, 1993; Temporary regulation on the procedure for maintaining the register of insurance brokers operating in the territory of the Russian Federation, and Model regulation on the insurance broker of February 9, 1995; Rules for the placement of insurance reserves dated March 14, 1995, etc. This initiative was successfully continued by the Ministry of Finance of the Russian Federation, which has now developed the Regulations on the Expert Council on Methodological Issues of Improving Licensing Activities and Information and Analytical Support for Insurance Supervision, approved by Order of August 4 1998 N 139, Regulations on the territorial bodies of insurance supervision of the Ministry of Finance of the Russian Federation, approved by Order of December 29, 1997 N 1093, etc.
Rosstrakhnadzor Order No. 02-02/13 dated April 26, 1993 "On State Registration of Insurers' Associations" became invalid due to the publication of Order No. 9n of the RF Ministry of Finance dated January 28, 2003 "On the Procedure for Entering Insurers' Associations into the Unified State Register of Insurers and Insurers' Associations." Important for the activities of insurance companies is the norm provided for in paragraph 4 of Art. 30 of the Law on the Organization of the Insurance Business, which gives the right to the federal executive body exercising insurance supervision to verify compliance by insurers with the legislation of the Russian Federation on insurance and the reliability of the reports submitted by them. If facts of violations of the legislation governing insurance relations are revealed and the submitted reports are unreliable, the Federal Insurance Supervision Authority has the right to issue instructions to insurers to eliminate these violations, and in case of failure to comply with the relevant instructions, to suspend or restrict the licenses of these insurers until the identified violations are eliminated or to take a decision about the revocation of licenses. If necessary, the Federal Insurance Supervision Authority has the right to apply to the arbitration court with a claim for the liquidation of the insurer in case of repeated violation by the latter of the current legislation of the Russian Federation on insurance.
This rule Art. 30 of the Law on the organization of insurance business was developed in the Regulations on the procedure for issuing orders, restrictions, suspension and revocation of a license to carry out insurance activities, approved by Order of the head of Rosstrakhnadzor dated June 19, 1995 N 02-02 / 17. According to paragraph 2.1 of the said Regulations, an order is a written order obliging the insurer to eliminate the identified violations within the prescribed period. The grounds for issuing an order are:
Order of Rosstrakhnadzor dated 19.06.1995 N 02-02/17 "On approval of the Regulations" On the procedure for issuing instructions, restrictions, suspension and revocation of a license to carry out insurance activities" became invalid due to the publication of the Order of the Ministry of Finance of the Russian Federation dated 17.07.2001 N 52n "On approval of the Regulations "On the procedure for limiting, suspending and revoking a license to carry out insurance activities on the territory of the Russian Federation". - carrying out insurance activities in the territory or by types of insurance not provided for by the license and its annex;
- implementation of activities prohibited by the Insurance Law;
- violation of the established procedure for the formation and placement of insurance reserves;
- unreasonable reduction in the size of insurance rates;
- non-compliance by the insurer with the normative ratio between assets and liabilities;
- non-fulfillment by the insurer of the obligations stipulated by the Law on the organization of insurance business;
- non-submission of accounting and statistical reporting or submission of the specified reporting in violation of the established deadlines or the procedure for its submission;
- non-submission (incomplete submission) of documents requested by the Federal Insurance Supervision Authority or its territorial inspections on time;
- establishing the fact of provision of false information in the documents that served as the basis for the issuance of a license, as well as in reports on the activities of the insurance company;
- failure to notify within a month of changes and additions made to the documents (insurance rules, tariff rate structure, etc.) that served as the basis for issuing a license, as well as changes in bank details and the location of the insurer;
- transfer of a license (copy) to another insurance organization;
- issuance of an insurance policy to the insured without attaching insurance rules to it and other grounds.
An order to eliminate the revealed violations is sent to the insurer, a copy of the order - to the territorial body of insurance supervision and, if necessary, to the relevant state executive authorities.
As mentioned, if the instructions are not fulfilled within the prescribed period, the Federal Insurance Supervision Authority has the right to restrict or suspend the license of the insurer until the violations identified by it are eliminated, or to decide to revoke the license.
The decision to limit or suspend the validity of a license is made by the Federal Insurance Supervision Authority. It is important to keep in mind that limiting the validity of a license means a prohibition, until the violations established in the activities of the insurance organization are eliminated, to conclude new insurance contracts and renew existing ones for certain types of insurance activities (or types of insurance) or in a certain territory.
Suspension of a license means a prohibition to conclude new insurance contracts and extend existing ones for all types of insurance activities (or types of insurance) for which a license has been issued until the violations are eliminated.
At the same time, the insurer is obliged to fulfill the obligations assumed under previously concluded insurance contracts before their expiration.
The insurer is informed about the decision taken, copies of the decision are sent for further control to the territorial body (inspectorate) of insurance supervision and to the territorial tax authority with simultaneous publication in the press.
The validity of the license is limited or suspended from the day the decision is communicated in writing to the insurer or from the day the decision is published in the press, if the insurer has not notified the Federal Insurance Supervisory Body of the change in legal address, which should encourage insurers to properly perform their duties.
When the insurer eliminates the identified violations, a decision is made to renew the license, which is also reported to the territorial insurance supervision body and the territorial tax authority, and is also published in the press.
Revocation of a license means a ban on carrying out insurance activities, except for the fulfillment of obligations assumed under existing insurance contracts. It should be noted that in this case, insurance reserves can be used by the insurer solely to fulfill its obligations.
The grounds for making a decision to revoke a license are established in accordance with the normative procedure. These include:
- repeated (more than once) decision-making on restriction or suspension of the license;
- failure to timely eliminate or submit a report on the elimination of violations that are the basis for making decisions to limit or suspend the license;
- a court decision confirming the implementation of illegal activities by the insurer;
- other grounds provided for by the current legislation of the Russian Federation.
It should be noted that when the facts of violation by insurers of the requirements for advertising activities are established, on the proposal of the State Committee of the Russian Federation for Antimonopoly Policy and Support for New Economic Structures (or its territorial departments), a decision is also made to revoke the license.
The decision to revoke a license is made by the Federal Insurance Supervision Authority, and an authorized representative of the insurer may be heard. The insurer, the territorial body of insurance supervision, the territorial tax body and the state body that registered the insurer as a legal entity shall be notified of the decision taken. At the same time, the decision to revoke the license is published in the press. When a license is revoked, it terminates in the same manner as when it was suspended, discussed above.
An essential point in the revocation of a license is the obligation of the insurer to notify the policyholders in writing of the decision taken by the Federal Insurance Supervision Authority to revoke the license. The revoked license shall be returned by the insurance company to the Federal Insurance Supervision Authority within 10 days from the date of receipt (publication) of the decision to revoke the license. Termination of insurance contracts is carried out in the manner prescribed by the Law on the organization of insurance business.
The Law on the Organization of Insurance Business gives the Federal Insurance Supervision Authority the right to file a claim with an arbitration court for the liquidation of an insurer in the event of repeated violations of the legislation of the Russian Federation by the latter, as well as for the liquidation of organizations that carry out insurance without licenses, i.e. on depriving them of the status of a legal entity as a subject of civil legal relations.
It should be noted that the issue of the liquidation of insurers (insurance organizations), which is of fundamental importance for the freedom of entrepreneurship in the field of insurance, is referred by the legislator to the competence of the arbitration court. The judicial procedure is the most democratic and objective way to resolve disputes, built on the principle of competitiveness of the parties. This is all the more important, given that in the process of developing the Law on the Organization of Insurance Business, opinions were expressed on granting the right to decide on the liquidation of insurance companies to departments exercising the function of supervising insurance activities (there are such examples in the practice of a number of countries). In modern conditions, when the insurance market in our country is in its infancy and the tendencies of monopoly and departmental diktat have not been fully eliminated, when new insurance organizations need state support for their activities, a guarantee of independence and freedom within the framework outlined by law, such a solution appears to be correct.
A necessary condition for the stability of foreign trade turnover is the financial stability of insurers who insure foreign trade risks.
The financial stability of the insurer should be understood as its unconditional ability to fulfill obligations to make insurance payments in favor of the insured or beneficiary. It is the financial stability of the insurance company that is the main object of control by the insurance supervisory authorities. Such control is carried out by checking the financial statements and compliance with established indicators that characterize the solvency of insurers.
According to the current legislation, the guarantees of financial stability and solvency of the insurer are:
- paid authorized capital not less than the size established by law;
- insurance reserves calculated in accordance with the established procedure and guaranteeing insurance payments;
- reinsurance system;
- compliance with the normative ratio between assets and liabilities, reflecting the availability of the insurer's own funds free from any liabilities;
- observance of the standard of maximum responsibility for accepting an individual risk for insurance.
A sufficient amount of the authorized capital guarantees the fulfillment of the obligations of the insurance company at the initial stage of its activity, since the receipt of insurance premiums during this period is insignificant and the authorized capital is the only guarantee of the company's solvency. Therefore, the minimum amount of authorized capital required at the beginning of the activities of an insurance company is established by law. However, a significant authorized capital is also important for existing insurance companies, as it allows, if necessary, to expand the scope of activities, and also acts as a stabilization reserve.
The minimum amount of the paid authorized capital formed at the expense of funds on the day a legal entity submits documents for obtaining a license to carry out insurance activities must be at least 25 thousand minimum wages (minimum wages) - when carrying out types of insurance other than life insurance, not less than 35 thousand minimum wages - when carrying out life insurance and other types of insurance, not less than 50 thousand minimum wages - when carrying out exclusively reinsurance. The minimum amount of the paid authorized capital formed at the expense of funds on the day of submission of documents for obtaining a license to carry out insurance activities by an insurance company that is a subsidiary of a foreign investor or has a share of foreign investors in its authorized capital of more than 49 percent must be at least 250 thousand minimum wages, and in case of reinsurance only - not less than 300 thousand minimum wages.
Insurance reserves reflect the size of the obligations of the insurer for insurance payments that have not been fulfilled at a given time. The obligation of insurers to form insurance reserves is enshrined in the Law on the organization of insurance business. Insurance reserves are calculated when carrying out each type of insurance. Their size is determined as a result of a thorough analysis of the insurer's operations, based on labor-intensive mathematical calculations. Practice shows that in the presence of experienced and qualified specialists, such a calculation becomes quite reliable and knowledge of its results can largely protect the insurer from possible bankruptcy.
Reinsurance is understood as the transfer by an insurer (referred to as the direct insurer, first insurer, reinsurer) of the liability assumed under the insurance contract to another insurer (referred to as the second insurer or reinsurer) to the extent exceeding the allowable amount of own retention. With the help of reinsurance, stability and homogeneity of the insurance portfolio are achieved. The obligation to reinsure obligations that exceed the ability to fulfill them at the expense of own funds and insurance reserves is enshrined in the Law on the Organization of Insurance Business. Relations between the insurer and the reinsurer arise by virtue of the reinsurance contract, which determines the method of reinsurance, the obligations of the parties, the conditions for the occurrence of the reinsurer's obligation to participate in the insurance payment and other necessary conditions for providing guarantees for the fulfillment by the reinsurer of obligations to the insurer.
The consent of the insured to such a transfer of responsibility is not required, since no legal relations between the insured and the reinsurer does not arise during reinsurance. The direct insurer is fully responsible to the policyholder for compensation for possible damage.
In accordance with the current legislation, insurers are required to comply with the normative ratio between assets and liabilities. The methodology for calculating this ratio and the amount of free assets (funds) required for the company are established by the Federal Insurance Supervision Authority.
To ensure the solvency of insurers, it is also necessary to comply with the maximum liability standard for insuring a particular risk.
At the same time, the solvency of the insurer is significantly influenced by its investment policy and the placement of assets (or funds covering both insurance reserves and authorized capital). Indeed, let us imagine that an insurance company correctly calculated insurance reserves, has free assets in the prescribed amount, concluded reinsurance contracts for large risks, but invested funds in deposits of an unreliable bank or investment institution. The inability to provide insurance payments to such an insurer may be due to the bankruptcy of the bank and the inability to use the funds transferred to it. In order to minimize the risk of investing those funds of the insurer that are directly related to the fulfillment of obligations for insurance payments - in the amount of insurance reserves, the Federal Insurance Supervision Authority has the right to establish a special regime for investments made by the insurer: prohibit certain types of investments, establish maximum and (or) minimum quotas of the total amount of investments that can be used to purchase certain types of securities, deposits, real estate, currency values, etc.
Part 2 of the commented article grants the state, in order to stimulate exports, the right to participate in the export credit insurance system. The commented article does not stipulate the form of such participation. Therefore, it can be either direct or through insurance organizations created by the state.
Structure of foreign economic activity insurance
Insurance of foreign economic risks can be described as a complex of types of insurance that protect the property interests of domestic and foreign participants in foreign economic activity. It includes types of property insurance, business risk insurance, liability insurance and personal insurance (Fig. 14.1).
Thus, modern insurance offers a wide range of services related to foreign economic activity. However, practice shows that participants in foreign economic activity most often use those types of insurance that are mandatory for the implementation of foreign economic activity. Quite often, types of insurance that are part of international trade customs are used.
Rice. 14.1.
Insurance and foreign trade contract
In most cases, the insurance contract is an integral part of the trade transaction. The question of who and at whose expense provides insurance is decided at the conclusion of these transactions.
In the conditions of market relations, foreign trade transactions are carried out in a contractual form. Contracts are drawn up in the form of a foreign trade contract that defines the rights and obligations of the parties, as well as their responsibilities. The foreign trade contract has a number of sections, including "Insurance". The essential conditions of the section "Insurance" are the object of insurance, insurance risks, the amount of insurance liability.
The complex of the main provisions of the contract, the obligations of importers and exporters arising from it, was called the basic terms of the contract, or the basic terms of delivery. Possible risks in the implementation of foreign trade transactions are reflected in the basic conditions for the supply of goods Incoterms 2010.
The use of Incoterms 2010 depends on the consent of the parties to the contract. If the terms of the transaction do not coincide with the terms of Incoterms 2010, preference is given to the provisions fixed in the contract.
To exclude possible disputes and claims, Incoterms 2010 rules fix the transfer of risk from the seller to the buyer. Obligations regarding insurance are contained in the delivery of goods on the terms of C1P and C1P, which require the seller to provide insurance in favor of the buyer (Table 14.1).
Table 14.1. Comparison of basic terms of delivery С1Р and С1Р
|
Delivery basis according to Incoterms 2010 |
Symbol |
Transfer of risk from seller to buyer |
Cost transition from seller to buyer |
|
Cost, insurance and freight (at named port of destination) |
At the moment the goods cross the ship's rails at the port of loading |
The seller bears all costs of bringing the goods to the named port of destination, including insurance |
|
|
Delivery basis for Incoterms 2010 software |
Symbol |
Transfer of risk from seller to buyer |
Cost transition from seller to buyer |
|
Carriage and insurance paid to (named destination) |
When the goods are handed over to the first carrier |
The seller bears all the costs of transporting and insuring the goods to the named destination |
According to these conditions, the seller must insure the goods and bear the costs of insurance. In other cases, the parties themselves decide whether they want to provide insurance coverage and how much. According to the Institute of London Insurers' clauses, insurance is provided with a "minimum coverage" (condition WITH), with "medium coverage" (according to the condition IN) and with the "greatest coverage" (by condition A).
By condition CIP (Carriage and Insurance Paid) - "Carriage and insurance paid to ..." the seller must pay the costs associated with the carriage of the goods to the named place of destination. This means that the buyer bears all risks and any additional costs arising from the moment of such delivery. The seller concludes an insurance contract and pays the insurance premium. The seller is required to provide insurance with a minimum coverage in accordance with Incoterms 2010 rules. If the buyer wishes to have insurance with a greater coverage, he must either specifically agree on this with the seller, or he himself must arrange for additional insurance.
In accordance with the International Rules Incoterms 2010, insurance must be made with an insurer that has a good reputation. When concluding a foreign trade contract, the parties choose the terms of insurance depending on the method of transportation and type of goods, taking into account the distribution of risk.
The section of the contract "Insurance" includes four basic conditions of insurance:
- 1) what is insured;
- 2) from what risks;
- 3) who insures;
- 4) in whose favor the insurance is made.
In international transactions, goods are insured against the risks of damage or loss during transportation. When moving goods from a producer (exporter) to a consumer (importer) using transport services, it may be at risk of complete or partial loss or damage (damage), which will cause material damage to the sender-exporter. The practice of foreign economic activity in the export-import of goods and services is based on a system of insurance contracts that provide certain guarantees to exporters and importers in the event of various unforeseen circumstances. The main conditions of insurance are established in the contract, it fixes:
- o obligations of the seller and the buyer for cargo insurance;
- o the duration and scope of the insurance guarantee;
- o insurance conditions.
Insurance can be made by any of the partners either in their own favor, or in favor of the other party, or in favor of a third party (usually the consignee).
When selling goods on the basic condition C1P and C1P, insurance is the responsibility of the exporter. Insurance contract - an insurance policy (or certificate) is included in the set of documents for receiving payment. The goods must be insured in favor of the buyer with reputable insurers or insurance companies in the currency of the contract to the port (point) of destination on the minimum insurance terms, unless otherwise specified in the contract.
The duration of the insurance guarantee, established in the contract, is determined by the period from the moment the goods are shipped from the supplier's factory to the moment they are delivered to the buyer's warehouse.
The scope of insurance is usually 110% of the value of the goods CH (C1P), where 10% is the calculated profit from the consumption of the purchased goods.
Insurance of foreign economic activity, as well as insurance of joint ventures with a share of foreign capital, foreign investments invested in the Russian economy, is carried out by such companies as Ingosstrakh, Sogaz, Reso-Garantia, Alfa Insurance, etc.
The overwhelming majority of foreign trade is served by sea transport. Therefore, the issues of insurance of foreign economic activity are considered through the system of marine insurance contracts. Marine insurance is the most ancient and developed type of insurance, its main provisions are used for other types of transportation: air, rail and road transport.
The range of issues of insurance of a foreign economic contract includes, along with the insurance of "cargo" (transported goods), insurance of "casco" (vehicles), liability insurance of carriers. The wide development in recent years of container transportation has led to the separation of containers into an independent type of insurance. Financial calculations between the exporter and the importer and the associated risks necessitate export commercial credit insurance.
