Insurance of business
Insurance of business, financial, manufacturing, insurance of political risks
Opening a new of business is always and without exception involves risk. However, this does not contradict the fact that to begin to learn a new direction possible at any time.
The economic situation – not a constant value. Crises and stagnation processes have cyclical character, and to replace them come the rise.
Secure your own business, both new and existing can help insurance of business risks. This type of insurance is popular in Western countries.
However, the Insurance Institute implies the possibility to minimize all possible damages and losses. Thus, you can easily protect your activity.
Turning to the insurance company, you will be thinking about compensation of probable losses. The amount of compensation paid to you in the case of insurance, depends on the insurance amount – the bigger it is, the greater the volume of payments.
Our corporation is working with insurance companies on: property insurance, liability, investment risks, insurance of employees, all kinds of financial risks. We can advise you and help you to choose the best insurance option at the best price, to negotiate with the insurance company on your behalf and prepare for signing the contract.
Property insurance assumes an acquisition of insurance for your equipment, premises, etc. In insurance contract will be described insurance claims and payments on them.
The ability to insure the responsibility is very attractive. Indeed, in this case, the insurance company will reimburse the losses to your clients or the people affected by your work. Naturally, within the sum insured specified in the contract.
Business insurance includes:
• Insurance business risks;
• Exchange risk insurance;
• Insurance of investment risks;
• Insurance of information risks;
• Insurance of commercial risks;
• Insurance of economic risks;
• Insurance of banking risks, etc.;
• Insurance of construction of the project;
• Political risk insurance.
In case the activity of the company will be suspended according to one reason or another, our company provides an opportunity to compensate (again, up to the amount specified in the contract) damages, losses, costs. And here is the role played by the actual production downtime, franchise – time of lay-up is not an insurance event. After crossing it, you can claim compensation under the contract.
It should be noted that not all members of the insurance services on the market able to provide such services. Finaam Corporation professionally conduct risk management – analysis of your company on the identification of insurance risks, business insurance, investment insurance, deductibles. We will identify insurance risks, will pick up the insurance company and carry out all the activities on the conclusion of insurance contracts.
Risk management – a complex of measures aimed at reducing the likelihood of risk or compensation of consequences of its implementation. The risk management process consists of several stages:
1. Risk Analysis.
2. Selection of methods to influence the risk in assessing their comparative effectiveness.
3. Decision.
4. Impact on risk.
5. Monitoring and evaluation of the results management process.
Classification of insurance risks:
By the nature of the danger:
– Technogenic risks. For reasons of occurrence these risks are associated with human activities (fire risks, accidents, theft, environmental pollution etc.);
– Natural risks. Occurrence of risks does not depend on human activity and cannot be controlled. This is mainly the risk of natural disasters: earthquakes, hurricanes, lightning, volcanic eruptions, and so on.
By the nature of the activity:
– Financial and commercial risks (for example, inflation risks, currency risks, investment risks, loss of profits, failure to fulfill contractual obligations, credit risk, and so on);
– Political risks (various changes in business entity for reasons determined by the activity of state bodies, illegal actions from the point of view of international law);
– Professional risks (risks arising from the implementation of the subjects of his professional duties);
– Transport risks (risks arising from transportation of goods and passengers by sea, air and land transport);
– Environmental risks (risks associated with the pollution of the environment) and so on;
– Property risks (fire, theft, damage to property and so on).
Necessary and indispensable condition, which are indispensable for the insurance relationship is the presence of insurable interest, i.e., a material interest of the entity in the insurance. The concept of insurable interest is in close relationship with the concept of property interest. This is finds its expression in the main purpose of insurance – protection of property interests.
The presence of insurable interest is due to the awareness of risk and possible damage in the event of risk realization. However, not all risks can be insured. From the perspective of the insurance risks are divided into two groups: risks that are subject to insurance (insurance risks); risks that are not subject to insurance (non-insurance risks).
Finaam Corporation performs a variety of functions and operations. The most difficult are assessment and forecasting the risk. To become an insurance risk, it must satisfy the following requirements:
1. Risk must be probable (the possibility of occurrence of the insured event shall be subject to evaluation).
2. The risk should be random (advance shall not be known any scene, no specific time of occurrence of the insured event or the size of the likely damage).
3. The risk must not wear a single character. To calculate the probability of the insured event required statistical data about the patterns of occurrence of similar risks.
4. Risk should entail the loss that is subject of financial dimension. It is important to remember that insurance is only relevant in situations where a loss entails monetary compensation. The risks, results of which can be estimated in monetary units, called financial. Financial risks are mainly insurable and non-financial (the consequences of which are not amenable financial evaluation) – are not subject.
5. The insurance event must not have the character of a catastrophic disaster (fundamental or catastrophic risks).
6. The fact of the insured event must not be linked to the will of the insurer or other interested parties (beneficiaries). In its weight pure risks insurable.
