2024 Author: Howard Calhoun | [email protected]. Last modified: 2023-12-17 10:16
There have been attempts to calculate and foresee risks at all times, and more than one volume of mathematical calculations is devoted to this topic. But practice shows that
unpleasant events always happen unexpectedly.
Construction risk insurance
This type of activity during construction work is an effective protection against possible losses. No matter how advanced the technology in this industry, the improved technical equipment of the working site, it is impossible to exclude the possibility of damage during the construction of objects.
Insured. In this case, one contract is drawn up for the entire scope of construction work, in which all participants located at this facility are considered insured. The insured is most often the general contractor, as he bears full responsibility to the project customer.
Objects of insurance. This contract involves insurance of the risks of property, availableon a work site designed to carry out certain work, namely:
- all types of construction products;
- mechanical means and mechanisms;
- temporary buildings at the construction site;
- buildings, structures requiring reconstruction and overhaul.
Fundamentally new directions are insurance against:
- possible breaks in the workflow;
- failure to fulfill the terms of the signed construction contract.
Coating. Risk insurance under such a program works on the “all risks” principle, which implies the provision of protection not only in classic cases, but also in other extraordinary situations.
Sum insured. According to the mutual agreement, a fixed rate is set, which includes cash payments for the construction object and liability for damage caused to third parties.
Bank risk insurance
The specifics of the banking activity involves protection against possible losses that arise due to the instability of situations both in the domestic market and in the world. In this case, risk insurance implies not only the probability of not receiving profit on transactions, but also the possibility of losing all capital. The recognized species are:
- Financial: credit, interest, liquid, investment, currency. As well as the risk of insolvency.
- Functional: strategic, technological, operational. In addition, there is a riskwhen introducing new products and various banking technologies.
- External: Potential for non-compliance and loss of reputation.
Insuring risks in the field of banking concerns not only a credit institution, since in the process of performing various operations it risks not only its own finances, but, above all, the money of depositors. However, it is impossible to insure the bank's capital in full, so a special fund of reserve funds is created. This procedure is carried out only for deposits that are especially important for the institution.
Many countries have introduced the mandatory purchase of the main policy into the practice of the bank, which increases the reputation of the institution and helps to attract new customers.
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