Classification of insurance

Agreement on the Protection of the property upon the occurrence of insurance claims due to the contributions of the subject is called insurance.The insurer is the subject registered for conducting these activities, as well as get a license for it.Insured recognized entity that pays the premiums and is the legal relationship with the insurer.

insurance is divided into certain types.Under the guise of the corresponding rates imply certain similar objects in a particular insurance cover.The word "insurance" has Latin roots, so consider Western philologists, and translates as "carefree".In Slavic languages ​​believe that the term "insurance" - is a kind of derivative of the word "fear."In the Russian Federation insurance - it is a scientific system for which this type of activity are classified by industry, types, and special links areas.

security classification is based on differences in the scope of responsibility.It can also be based on the difference between the objects of insurance.In 1978, it was established classification and types of insurance for the countries of the EEC.This classification is established in accordance with the laws and the EEC Directive on the insurance companies.Classification of security includes 6 kinds of long-term and 17 more types of common.

Long types:

  • permanent health insurance;
  • pensions;
  • financial losses;
  • life;
  • for the wedding and the birth of a child;
  • endowment insurance.

classification of types of insurance relating to the general:

  • Car Insurance.
  • Accident.
  • material objects (property).
  • rail transport.
  • from financial losses.
  • Cargo insurance.
  • sickness.
  • aircraft.
  • by natural disasters and fires.
  • Civil responsibility of drivers of vehicles.
  • and others.

Insurance has 4 main branches, which include several sub-sectors.

risk insurance business.This could include the loss of income (the risk of using new technologies, equipment, unrealized profits due to terminate the deal, costly downtime, etc.).The industry is divided by another:

  • insurance against the risk of direct loss;
  • as well as indirect losses.

Property type insurance.The object of this industry are the material things (home, car, values), property insurance has the following sub-sectors:

  • insurance of property of citizens;
  • public and cooperative organizations;
  • collective farms;
  • tenants;
  • state farms;
  • state enterprises.

Liability Insurance.This industry is the insurance obligations to fulfill contractual terms, indemnify.So, if the policyholder has damaged any subject, it will reimburse the damage for his insurer.Liability insurance sub-sector include:

  • insurance compensation;
  • insurance debt.

insurance living standards.The object of this industry is the life, disability, health insurer.Sub-sectors related to the industry:

  • private insurance of citizens;
  • social insurance of employees, workers, collective farmers;
  • pensions and life insurance.

guiding principle, by which the classification of insurance is partial inclusion of each successive link in the previous one.There are exactly two forms of insurance: voluntary and mandatory.These forms include all links.The state establishes compulsory insurance.This happens in cases where the need for reparation is not only subjective interests of the injured person, but it affects the interests of the whole society.

Classification of insurance may also be based on the insurer areas: internal market, external market, mixed insurance market.