Finance

Insurance development tendencies on the international level

The modern level of development of insurance business in industrially advanced Western countries is characterised by enhancing the tendencies to monopolisation in insurance business and concentration of capital.

Physical persons’ property insurance.

According to the terms of property insurance contract the following kinds of property can be insured:

Motor-vehicle insurance

Motor-vehicle insurance is one of the kinds of transport insurance whose objects are mechanised and other means of transport. This kind of insurance is voluntary.

Commercial risks insurance.

Entrepreneur activities and insurance are two closely interconnected categories of the market economy.

The main aim of entrepreneur activities is getting profit, increasing capital invested into business. That is why insurance against possible loss of expected profit or unearned profit becomes very important.

Life insurance

The distinguishing feature of this insurance is its double function: risk and accumulative one. Life insurance contract can be concluded in favour of a physical person from his birth (but at the moment of concluding the contract his or her age should not exceed 70 years old). Insurance contract can’t be concluded in favour of disable persons, if they are more than 49% disable (I and II group invalids).