The subject of foreign economic activity is the topic of the insurance procedure. The main types of insurance for foreign trade. In the field of foreign economic activity

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 trade activities. 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 match 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 assumes all risk and any additional expenses arising from the time 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. Practice foreign economic activity for 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 Russian economy, 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. Widespread development in last years container transportation led to the allocation of an independent type of container insurance. Financial settlements between the exporter and importer and the associated risks necessitate export commercial credit insurance.

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 during foreign trade, with the repayment of external 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 work foreign enterprises in our country.
Foreign trade insurance - a set of types of insurance that provide protection against the risk of participants 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 an insurance contract, the policyholder is obligated to pay insurance premium to the insurer for the obligations assumed to compensate the insured for the loss upon occurrence 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 Money called insurance payout.
The following are subordinated to the Ministry of Finance of the Republic of Belarus: state organizations involved in insurance:

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.

When insuring foreign economic activity, various international insurance operations are carried out, including:

direct international contractual operations;
direct insurance;
intermediary insurance;
international reinsurance.

Foreign trade insurance includes the following varieties:

personal insurance(from accidents and diseases, from medical expenses and etc.);
property insurance (insurance of export-import cargoes, insurance of vehicles carrying export-import cargoes, aircraft insurance, property fire insurance, etc.);
liability insurance (owners vehicles, aircraft owners, road carriers, ship owners, organizations that create increased danger, etc.).

If the size of the risk offered by the insured is greater than the insurer usually accepts, he may refuse insurance, although, in order to retain part of the risk and not lose the client, insurers can either share the risk (co-insurance) or use insurance to protect themselves myself. This second method (called reinsurance) is part of the basic principle of insurance - the distribution of risk.
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 co-insurance involves a large number of insurers. Secondly, an intermediary, when placing a large risk, will have to contact a large number of different co-insurers, each of which is ready to cover only part of the risk in accordance with its capacity.

Foreign economic insurance covers a complex of insurance types that protect the interests of domestic and foreign participants in various forms of international cooperation. It includes insurance of export-import goods, transportation means (ships, planes, motor vehicles, etc.), domestic property interests abroad, tourism and autotourism, property interests of foreign individuals and legal entities in our country, activities of joint ventures, marine insurance, foreign trade insurance. Depending on the content of the relevant contracts, insurance costs may be borne by any of the parties who chooses the insurance company and insurance conditions.

Insurance services in foreign trade activities in the territory Russian Federation carried out in accordance with federal laws on insurance activities, in particular with federal law"ABOUT state regulation foreign trade activity” (as amended on February 10, 1999). In order to stimulate exports, the state may participate in the export credit insurance system. Commercial risks in foreign trade activities are insured on a voluntary basis under insurance contracts with Russian or foreign insurers ( legal entities).

An important condition of the export credit insurance contract is the so-called waiting period for payment. According to this condition,

the insurer's liability does not arise immediately after the trade or service contract fails to make payment at the agreed time or on the agreed date, but after a certain period, usually 60-90 days. This period is necessary to find out the reasons for non-payment and take measures to eliminate them. Export credit insurance against non-payment is carried out most often by specialized institutions and societies, which are usually owned by the state or in which the state has controlling stake shares. Thus, in the UK such risks are insured by the Export Credit Guarantee Department, Indemnity and Lloyd Corporation; in Germany - by the Hermes society and the private company Troyarbeit; in France - by the Kafas society; in Italy - SACHE; in the USA - OPIC, etc. Typically, such insurers act on behalf of and at the expense of the government within the limit of state guarantees for export credits, approved when the state budget is adopted. Obtaining such a guarantee or a public insurance policy is not always possible due to various reasons. Besides, state insurance, as experience shows foreign countries(USA, France, Germany, etc.), is always set in a strict framework, insured loans must meet strict requirements. Taking into account the specifics of export credit insurance or the risk of non-payment, tariffing for it requires an individual approach to each specific case. When setting premium rates, the following are taken into account: general term and the amount of the loan, the size of the initial payment, the terms of the partial repayment of the loan on certain dates, the object of supply on credit or the type of service provided. An important factor when considering the issue of taking risks for insurance is the need to prevent cumulation. In any case, export credit insurance should be considered as a factor stimulating the development of foreign economic relations.

The scope of insurance of foreign economic risks also includes insurance of industrial and other facilities being built in our country with the help of foreign firms, and facilities being built abroad with our assistance. The scope of coverage for this type of insurance includes: insurance of construction and installation risks, machinery against breakdowns, post-launch warranty obligations, liability insurance for causing damage to the contractor and third parties during the period of installation, commissioning and warranty period of equipment operation, The insurance of joint ventures continues to develop. When entering the market of our country joint ventures organize an advertising demonstration of their products through a wide exhibition. And in this regard, an important role is played not so much by insurance of exhibition pavilions and exhibits, but by liability insurance of exhibition organizers for harm that may be caused to third parties, in particular visitors.

The insurance covers the property and personnel of our embassies and other organizations operating abroad, as well as rented premises and property of foreign embassies and other representative offices accredited in the CIS.

In recent years, tourism has developed significantly, and especially autotourism. In most countries of the world, liability insurance for motorists for damage that may be caused to property, health and life of third parties is mandatory. In this regard, autotourists traveling abroad are required to have a third party liability insurance policy, which must be valid in the territory of the countries that the autotourist is going to visit.

IN international practice a special type of insurance activity has been developed - liability insurance to third parties. Such liability arises from the commission of certain wrong actions by the insured or his inaction and represents his obligation to compensate for the damage by any legal and individuals. Unlike property insurance, here the object of insurance relations is not the property subject to damage, but the economic interest of the possible tortfeasor in its monetary terms. The purpose of liability insurance is to compensate for the costs that the policyholder must incur by law or by a court decision in favor of persons who have suffered damage or harm. Sum insured cannot be assessed prior to the insured event.

Reinsurance is a specific form of insurance activity. It represents the transfer to the insurers who have concluded insurance (the reinsurer) of part or all of their participation in this operation to another insurer (the reinsurer). At the same time, the conditional part of the insurance premium is also transferred, in proportion to which the responsibility to the insured for damages is distributed between the reinsurer and the reinsurer. This operation is performed, as a rule, when accepting large risks for insurance, which one insurer does not dare to take on entirely.

Having understood the essence and basic concepts, types of insurance, the student can proceed to consider the features of insurance of foreign economic activity.

In foreign economic relations deals with foreign counterparties are insured. In the country's balance of payments, insurance transactions are reflected when the insured, insurer or beneficiary is a foreign legal entity or individual.

The central place in the insurance of foreign economic activity is occupied by transport insurance and export credit insurance.

In case of transport service of foreign trade operations, insurance is provided vehicles, foreign trade cargo, as well as the expected profit and commission, freight and other costs associated with transportation. The contract of transport insurance can be concluded under the following conditions: with liability for all risks, with liability for a partial accident, without liability for damages, except in cases of a crash. The main documents for proof of interest are: when insuring cargo - a bill of lading, waybill and other shipping documents, invoices and invoices, if the content of these documents the insured has the right to dispose of the goods; when insuring freight-charter-party, bills of lading, etc. The issues of marine insurance are studied in more detail in a special academic discipline.
Export credit insurance is a type of insurance covering credit risks. Credit risk is the probability of non-payment of debts on payments and obligations in fixed time. In foreign trade transactions, they are associated primarily with the delay in payment due to the fault of the buyer due to his bad faith or insolvency. Such risks, which lie on the side of the borrower, are classified as commercial. Along with them, there is an increase in the so-called political risks associated with military operations, nationalization, confiscation, restrictions and embargoes, etc. to specific credit risks include risks arising from entering new markets caused by unexpected increases in production costs (inflation risk) or changes in exchange rate(currency risk).

National insurance systems credit risks created at present in all industrial developed countries and in a number of developing countries. The main role in them is played by state insurance institutions specializing in this area, while private ones perform auxiliary functions, although their significance varies in individual countries.

The development of credit risk insurance goes mainly in two directions. First, the size of insurance coverage is increasing, which usually amounts to 80-90% of the insured's possible losses, but in some cases reaches 100% (in particular, for political risks). Secondly, the list of insured risks is expanding, new types of insurance are being introduced.

State insurance of export credits is used as one of the instruments of foreign trade policy, which allows to regulate the volume and geography of export credits.

In international practice, the objects of insurance can also be goods in warehouses; technical risks arising from contracts, construction and installation works, supplies of machinery and equipment, etc.

The vast majority of insurance operations are concentrated in the hands of giant insurance monopolies, dominated by the US monopolies (about 60% of the volume of insurance operations performed on the world market).

BIBLIOGRAPHY

Arkhipov A.P. Insurance business. - M .: MESI, 2005.

Gvozdenko A.A. Fundamentals of Insurance.–M.: Ankil, 2005.

Insurance / Ed. V.V. Shakhova, Yu.T. Akhvlediani.–M.: UNITI-DANA, 2005.

Shakhov V.V. Starkhovanie.–M.: UNITI, 2006.

First risk insurance Property insurance, insurance of property of the enterprise and property of citizens Business risk insurance

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Plan

1. Essence and features of insurance of foreign economic activity

2. Types of foreign trade insurance

1. Essence and features of insurance of foreign economic activity

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). Under risks V 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 foreign economic activity.

To combat risks, that is, to reduce possible damage, almost all large foreign enterprises have special units. They are developing comprehensive programs aimed at minimizing potential damage.

At insurance export loans Russian exporter receives the following benefits:

assistance of specialists in assessing the reliability of potential partners when entering new markets;

constant monitoring of financial condition foreign clients and timely informing about their financial condition;

the ability to increase the number of customers and sales;

the ability to increase competitiveness through the use of more flexible forms of payment;

the ability to export directly to end consumers, bypassing intermediary opticians, which increases the profitability of the operation.

Commercial credit insurance increases the export opportunities of enterprises by several times. At the same time, insurance is a very economical way to ensure the reliability of foreign trade operations. In addition to exporting enterprises, banks may also be interested in insuring commercial loans. When insuring export credits, the risks of non-fulfillment of payment obligations by foreign counterparties are assumed by the insurance company. This affects the terms and conditions bank loan. An insurance policy issued by a reputable insurance company can serve as a reliable security after the shipment credit of the exporting enterprise. In pre-shipment lending, an insurance policy can also serve as additional collateral when issuing a loan.

2. Types of foreign trade insurance

casco foreign economic risk insurance

Maritime insurance

In the Middle Ages, maritime trade insurance existed in the form of a maritime loan. The bankers provided funds to the merchant for the goods, the rent of the ship, and other shipping costs. With a favorable outcome of the transaction - the arrival of the ship at the port with the goods - the banker returned his funds with some profit. In case of an unfavorable outcome, the loan remained to the merchant as a kind of compensation for damage.

The same relationship existed in Italy until 1236, when Pope Gregory IX forbade such transactions, considering them usurious. After that, in Italy, the so-called insurance mugs - societies that were close in form to modern societies mutual insurance.

At the end of the XVI century. In England, seafaring and, accordingly, maritime trade began to develop intensively. Insurance activity moved from Italy to England. In 1601 the first English decree regulating marine insurance was issued.

In 1906 in England was published Act maritime insurance , which still governs marine insurance throughout the world. The London Institute of Underwriters at that time acquired the status of the organizer-developer of standard marine insurance conditions.

Contemporary maritime insurance- the largest branch of insurance, which forms the basis of transport insurance. It exists in almost every country in the world.

Maritime risks can be divided into the following kinds:

ordinary risks that arise from the very fact of transportation;

military which lie outside the fact of transportation.

Among conventional allocate:

- risks most seas ( maritime accidents) - the ship runs aground, that is, remains motionless for a long time; ship sinking; collision - not only with other ships, but also with immovable objects, such as reefs, icebergs, bridges, lighthouses;

- risks occurrence damage on ship in time finding V sea - risks of fire, theft;

- others risks- all risks threatening the ship, with the exception of political and military risks, - accidents, breakdowns, holes, etc.

Military And political risks can be divided into risks:

strikes;

civil unrest.

In insurance terminology war - this is a real military action, organized by the government, declared or undeclared, as well as civilian military actions. Typically, marine insurance covers only military risks that threaten property while it is on board the ship.

Regulatory base regulation of marine insurance in Russia is the Merchant Shipping Code of the Russian Federation (Code of the Russian Federation of 04.30.99 No. 81-FZ; Law of the Russian Federation of 04.30.99 No. 81-FZ).

Prior to market transformations in the Russian Federation, Ingosstrakh was involved in the organization of marine insurance. This company used to be state-owned, but now it is joint-stock organization with a certain share of state participation. It has subsidiaries throughout the Russian Federation, especially in port cities through which sea transportation is carried out.

Marine insurance can be divided into the following kinds:

Casco - this type of insurance provides insurance coverage for existing and under construction marine and river boats, as well as oil and gas offshore platforms. IN volume coatings the hull of the ship, its engine, equipment are included. Insurance is provided for a period of one year or for the duration of the voyage. The insurance premium is calculated based on the size of the sum insured;

cargo - insurance protection cargo throughout its movement, that is, from warehouse to warehouse;

insurance responsibility - covers the dangers (risks) arising during navigation, as the ship is the cause of pollution of the marine environment;

insurance freight - ship insurance against loss of income.

Insurance Casco covers the whole variety of types of vehicles used in navigation. Casco insurance involves compensation for damage from damage or constructive loss of the vehicle.

Complete death ship occurs when the shipowner has irretrievably lost the ship.

Complete constructive death vessel means that it is in such a state that it cannot be restored.

constructive death ship means that the cost of its repair will be greater than the cost of the ship itself after repair.

Casco insurance covers:

Complete loss of the ship;

private accident;

General average;

Collision liability;

Rescue expenses.

Liability coverage for collision involves compensation for losses associated with a collision of a vessel with a floating object. If the collision occurred with any other vessel, then the determination of liability in accordance with the rules of maritime navigation takes place in the arbitration court.

Usually from Casco insurance coverage excluded risks causing damage by intentional actions or gross negligence of the captain, as well as the costs associated with the destruction of the remains of the ship.

The sum insured depends on the insured value of the ship. TO main pricing factors when determining the valuation of the vessel include:

Age, type and carrying capacity of the vessel;

Vessel classification - class, flag, country of registry;

Qualification and reliability of the captain, crew, as well as the navigation area.

Transport insurance cargo (insurance cargo)

A trade contract and a contract of carriage usually supplement a contract of cargo insurance. Cargo transportation is carried out on the basis of a bill of lading, that is, a contract between the cargo owner and the carrier. This document defines the limits of insurance coverage.

Cargo insurance provides for insurance coverage of cargo only during its movement. object cargo insurance are: the cargo itself; customs duty; intermediary fees.

Factors which are taken into account at definition insurance rates (from which will be calculated later insurance premium) for cargo insurance:

Type of cargo;

Cargo packing;

Size, weight, cost of cargo;

flight duration;

Season;

The vessel on which the transportation will be carried out.

Historically, international trade has developed certain conditions for the exchange of goods, as well as the corresponding obligations of the parties to carry out certain actions, the totality of which is formed by trade customs.

To avoid contradictions between trading partners, the International Chamber of Commerce developed and first published in 1936 a collection of interpretations of the most common trading customs. This collection is called INCOTERMS. Newest edition collection was adopted by the International Chamber of Commerce in 1990.

In accordance with INCOTERMS in basic conditions supplies the obligations of the seller, for the price established in the contract, to ensure the delivery of goods to a certain geographical point, or load the goods onto vehicles, or transfer them to a transport organization.

The basic conditions define the following obligations of sellers and buyers:

Who and at whose expense ensures the transportation of goods through the territory of the countries of the seller, buyer, transit countries, by sea or air;

Responsibilities of the seller in terms of packaging and labeling of goods;

Obligations of the parties for cargo insurance;

Obligations of the parties to prepare commercial documentation;

Time and place of transition from the seller to the buyer of the risks of accidental damage or loss of goods.

In the commercial work of foreign trade organizations, it is usually necessary to study mutual obligations and rights in detail. To do this, you must use the collection of interpretations of trade customs INCOTERMS-90.

By new classification INCOTERMS-90 all basic conditions are divided into 4 groups. This classification is based on differences in the volume of obligations of counterparties for the delivery of goods.

First group « E» It has one condition - "ex-factory", - containing minimum responsibilities For seller, which are only V providing goods For purchases V place finding seller.

In second group « F» includes conditions imposing on the seller an obligation to hand over the goods to a carrier named by the buyer.

IN third group "WITH" contains conditions under which the seller is obliged to ensure the transportation of products, but must not accept the risk of accidental loss or damage to the goods, and also bear any additional costs after the shipment of the goods.

Fourth group « D» includes terms of delivery that provide for the obligation of the seller to bear all costs and risks that may arise during the delivery of the goods to the country of destination.

Insurancerisks,relatedWithinvestments

One of the most important directions in the development of globalization processes in the world economy is the international movement of capital. It finds its expression in the form of various kinds of foreign investment. The reasons for the movement of capital are its surplus in one country and, accordingly, its shortage in another.

The specificity of foreign investment lies in the fact that the owners of capital from one state (or several states) invest it in investment objects located on the territory of another state. This process of placing foreign investments is associated with various kinds of risks, that is, possible damage from adverse events that lead to losses for the investor.

Foreign investment can be made in different forms. The Law of the Russian Federation "On Foreign Investments in the Russian Federation" No. 160-FZ dated July 9, 1999 states that foreign investors have the right to invest in Russia by:

Equity participation in enterprises created jointly with legal entities and citizens of Russia and other countries;

Acquisition of shares in enterprises, shares, shares, bonds and other securities;

Creation of enterprises wholly owned foreign investors, as well as branches of foreign legal entities.

From the point of view of the Law of the Russian Federation "On currency regulation And currency control» (as amended on 05.07.99 No. 3615-1 dated 09.10.92) to foreign exchange transactions associated with the movement of capital include:

- straight investments, that is, investments in authorized capital enterprises in order to generate income and obtain rights to participate in the management of the enterprise;

- portfolio investments, that is, the acquisition of securities;

Giving and receiving postponement payment for a period of more than 90 days for the export and import of goods, works and services (commodity credit);

- providing And receiving financial loans for more than 180 days.

There are various methods to prevent possible losses for various types of investment activity. For insurance direct investment apply different kinds insurance by concluding relevant agreements with insurance companies.

The risks to which direct investments are exposed can be divided into the following groups:

- risks spontaneous disasters - hurricane, storm, earthquake, flood, unusually severe frosts, hail, mudflow, outflow of subsoil waters and other similar natural events;

- risk fire, which can be caused by various causes, both natural (for example, a lightning strike) and man-made (associated with production activities) origin;

- technical risks, which may be directly related to the construction, construction, installation, trial run and operation of the facilities under construction;

- political risks, which include: nationalization, expropriation of investments; nationwide strikes, civil unrest, riots, hostilities, actions of state authorities that limit the convertibility of the currency, the regime for the export of capital, profits, etc.;

- actions third persons: robbery, theft, extortion and other similar actions;

- economic risks, which include changes in market conditions, etc.;

- other risks, which cannot be attributed to any of the above.

Most of these investment risk groups are covered by insurance or sometimes self-insurance, that is, by creating certain own reserve funds.

feature traditional species property insurance is that political risks are usually not insured under these insurance contracts. Political risks do not have a sufficiently reliable statistical base, that is, the probability of their occurrence is extremely difficult to predict. Risk assessment here is most often in the nature of expert assessments. Due to these features of political risks, the state plays a significant role in protecting investors from their actions.

State gives legal guarantees to foreign investors. It takes appropriate legislative acts and concludes international agreements on the promotion and protection of investments. Any state is directly involved in the insurance of foreign investments by creating state insurance companies, insurance against political risks, or by support activities private insurance companies, engaged in this type of insurance.

In the Russian Federation, in 1996, by a government decree, the Russian Export-Import Insurance Company was established, whose task is to provide insurance, including against political risks. In addition, CJSC "Ingosstrakh" is engaged in insurance of political risks.

In the United States, foreign investment insurance is Corporation private foreign investment - OPIC (OPIC - Openseas Private Investment Corporation). The activity of this organization covers American investments in 140 countries. OPIC provides support to US investors through the following three programs:

Insurance of property interests against political risks associated with expropriation or nationalization, the irreversibility of the local currency, damage to property and loss of profits as a result of civil unrest, wars, changes in the political regime, etc.;

Financing projects and lending to private investors through the provision of short-term and long-term loans;

Rendering advisory services investors to study political and economic situation in the country where the investment is to be made.

object insurance There may be the following types of investments:

Direct investments, including those related to construction and installation works, modernization of production;

Participation rights, shares and other securities;

Property rights related to licensed trade, international leasing, franchising, etc.;

Loans and credits;

Other types of investments.

Insuranceconstructionrisks

Behind Lately in world trade, there is a steady increase in the share of services, among which a significant role is played by services classified as engineering. They include:

Construction;

construction;

Installation of equipment;

Commissioning of various facilities, etc.

This important area of foreign economic activity can also be insured against possible losses.

Currently, in international practice, two types of insurance are widely used, related to the construction and construction of facilities abroad.

Insurance construction entrepreneur from all risks - insurance SA R (Contractors All Risk). The following factors can be identified that have caused an increased worldwide demand for CAR insurance:

Technical progress in construction;

Increased demand for all types of construction work;

Constant growth in the cost of facilities under construction and the associated increase in technical and economic risks of construction.

In the process of construction of facilities insurance subject to :

Building object;

Construction site equipment;

Construction machines;

Vehicles used on construction site(if they are not approved for use on public roads);

Expenses for clearing the territory after an insured event;

Civil liability of the insured;

Objects on which or near which work is carried out, objects entrusted to the insured or stored by him. Within the framework of the CAR insurance contract, installation works of machines, plants and equipment can also be insured. steel structures if construction works prevail, i.e. the cost of installation objects (including installation costs) is less than 50% of the total sum insured.

Insurance sum , for which construction work is insured is the contractual cost of construction, including the cost of the delivered building materials and/or work performed. CAR insurance provides very broad protection. All losses incurred during the period of validity of insurance against sudden and unforeseen accidental events are indemnified, if the cause of their occurrence is not among the exceptions. As such exceptions are:

Losses as a result of military actions, events or events, strikes, riots, civil unrest, interruption of work, seizure of property at the request of the authorities;

Intentional actions of the insured or gross negligence;

Losses resulting from exposure to nuclear energy;

Claims for penalties and shortcomings of the services provided;

Internal damage to construction machinery, i.e. damage not caused by external causes;

Design errors;

Elimination of a lack of construction work (for example, the use of defective or unsuitable material).

The insurance cover begins at the moment of commencement of construction works or after the unloading of the insured objects at the construction site and ends with the acceptance or commissioning of the structure.

Another type of insurance for construction and installation risks is insurance all assembly risks - insurance EAR (Epgeneering All Risk). This type of insurance is based on the idea of providing insurance coverage for all risks that arise during the installation of machines, mechanisms, as well as during the construction of steel structures.

Policyholders for this species insurance can be provided by all parties for whom a risk arises in connection with the installation of objects. For this type of insurance are insured:

Installation and trial run of all types of machines, mechanisms and structures;

Machinery, devices and equipment for the production of installation (for example, cranes, masts, winches, compressors);

Items located on the installation site and taken into storage by the insured;

Expenses for cleaning up the territory after an insured event;

Additional costs for payment of overtime work, transportation of cargo at an increased speed (in special cases - by air), if these costs are directly related to the elimination of damage subject to compensation;

Civil liability of the insured person, that is, claims of third parties, which, according to the law, must be satisfied at the expense of the insured person.

Construction work performed at these facilities can also be insured if the share of installation work prevails, that is, their cost exceeds the cost of the equipment being installed. Insurance of all installation risks provides a very complete insurance coverage, built on method exceptions.

In international practice, these are:

Losses resulting from design errors, material defects or manufacturing errors;

Damage resulting from intentional actions or gross negligence of the insured or his representative;

Claims for penalties and shortcomings in the services provided, other property losses;

Damage as a result of military or other events, unrest, seizure of property by decision of the authorities;

Damage caused by strikes or riots, and damage caused by exposure to nuclear energy.

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