The insurance market is a special system for organizing insurance relations, in which the purchase and sale of insurance services as a product occurs, supply and demand for them are formed. Objective basis for development insurance market is the need that arises in the process of reproduction to ensure the uninterruption of this process, expressed in the provision of cash assistance victims in the event of unforeseen adverse events. In the insurance market, the formation and use of insurance fund to cover the resulting damage, while ensuring the commercial interests of insurance organizations.

Subjects of the insurance market. These are insurers, policyholders, insureds and insurance intermediaries.

1. Insurers are legal entities who have a state license to conduct insurance operations and organize the formation and expenditure of the insurance fund. Insurers can be state insurance organizations, joint-stock insurance companies, mutual insurance companies and insurance pools.

State Insurance companies- these are organizations that base their activities on state property. IN Russian Federation government sector The insurance market is represented by Rosgosstrakh JSC, which has an extensive network of regional subsidiaries.

Joint-stock insurance company (company with limited liability) - the most widespread form of insurance company, based on the pooling of capital of several economic entities. Currently, about 1,000 insurers are registered in Russia, but no more than 10% of them have sufficient authorized capitals and insurance reserves to ensure normal commercial activities. Therefore, an important task in the development of the insurance market is to increase the financial stability of most insurance companies.

Mutual insurance societies are one of the most common organizational structures in insurance abroad, in which each founder of the company simultaneously acts as an insured. These are non-profit organizations; they do not aim to make a profit and are formed solely to insure their members and protect their interests. The goal of the company is to provide its members with the highest quality, diversified and affordable insurance services. In Russia, mutual insurance has not developed due to the lack of a full-fledged legal framework.

An insurance pool is a voluntary association of insurers, which is not a legal entity, created on the basis of joint liability of its participants for the fulfillment of obligations concluded on its behalf. An insurance pool is created to insure certain, mainly particularly large, dangerous and little-known risks. The pool's activities are based on coinsurance. Each participant receives a certain share of the contributions collected by the pool and is responsible for compensation of losses in the same share. The quota of pool members is determined in proportion to the contributions transferred to the general fund. A number of insurance pools have been formed in the Russian insurance market: environmental pool, space risk insurance pool, nuclear liability insurance pool, health insurance and a number of others.

• 2. Policyholders are legal entities and individuals who have an insurable interest and enter into relations with the insurer by force of law or on the basis of a contract. In personal and social insurance the agreement may be concluded in favor of third parties, i.e. insured who have the right to receive compensation upon the occurrence insured event or redemption amount at early termination agreement. In addition, when concluding contracts, policyholders can designate beneficiaries who have the right to receive insurance payments.
• 3. Intermediaries performing the functions of concluding insurance contracts may be insurance agents and brokers (acquirers), working as an intermediate link between the insurer and the policyholder. Availability of intermediaries in insurance business indicates enough high level maturity of market relations, as it increases the efficiency of concluding contracts and increases the assets of the insurer.

An insurance agent can be an individual or legal entity who, on behalf of and on behalf of an insurance company, is engaged in the sale of insurance policies, i.e. concludes and renews insurance contracts, collects insurance premiums, draws up documentation and, in some cases, pays insurance compensation.

Insurance agents - legal entities can be: lawyer consulting, travel agencies, marriage dating bureaus, notary offices, etc., which, along with professional services, can perform the functions of selling insurance policies and concluding insurance contracts. The entire set of individuals and legal entities constitutes an alternative distribution network for the insurer's services. The relationship between the insurance company and insurance agents is regulated by general cooperation agreements or contracts. Intermediary services insurance agents are paid by the insurer at firm fixed rates as a percentage of the volume of work performed, i.e. the volume of receipts of insurance premiums under concluded and existing contracts, or as a percentage of the total insured amount under contracts or the number of contracts of this type.

There are two options for communication between the insurer and insurance agents:

• 1) direct communication, based on contractual or general agreements regulating the relationship of the parties, their rights and obligations;
• 2) a system of general insurance agents, corresponding to a more mature type of market relations. In this case, in the territory served by the insurer in each large administrative-territorial unit, the insurer creates one or two general agencies, the work of which is organized by insurance agents who enter into a contract with the insurer.

An insurance broker can be an individual or legal entity who acts as a consultant to the policyholder when concluding an insurance agreement with a particular company. An insurance broker, unlike an agent, acts as an independent insurance entity and carries out its activities with the policyholder and the insurer. Possessing an extensive data bank of the activities of insurance companies operating in the insurance market, based on the analysis of this information, the insurance broker determines the optimal insurance conditions for the client and brings him together with the appropriate insurance company. If, as a result of the broker’s professional efforts, an insurance contract is concluded with this insurance company, then the latter pays the broker’s work on a commission basis.

The principles of functioning of the insurance market are determined general conditions development and state of the economy.

One of the fundamental principles is the demonopolization of the insurance business. The implementation of this principle means that insurance activities on the market can be carried out by any insurance companies, regardless of their form of ownership.

An important principle of the formation and development of the insurance market is the competition of insurance organizations in providing insurance services, attracting policyholders and mobilizing Money to insurance funds. Freedom of pricing, expressed in the freedom to set tariff rates under the influence of supply and demand, creates conditions for insurers to compete to attract policyholders. This competition can be expressed in the offer of convenient forms for policyholders and conditions for concluding insurance contracts, paying insurance premiums and paying insurance compensation. Competition among insurers can be expressed in expanding the range of insurance services offered, focused on the interests of specific social and economic groups of the population.

The next principle of market functioning is the principle of freedom of choice for policyholders of the conditions for the provision of insurance services, forms and objects of insurance. To implement it, a wide range of insurance services, a reasonable combination of compulsory and voluntary forms of insurance on the market and constantly expanding coverage opportunities are required. various types damage.

Liberty entrepreneurial activity provides the right to any legal entity to engage in insurance business. But insurance is a special form of business activity, which should provide insurance protection to policyholders in the event of the occurrence of unfavorable unforeseen events. Therefore, an important principle of organizing the insurance business in market conditions is the principle of reliability and guarantee of insurance protection. The implementation of this principle is based on a legal basis. The mechanism for registering insurance companies, licensing their activities and state control ensures that the interests of policyholders are respected and financial stability insurance operations.

Organizing the insurance business on a market basis increases the need for information about the activities of the insurer. The principle of transparency allows the policyholder to consciously decide on the choice of an insurance company.

Insurance service. The product offered on the insurance market is an insurance service. Insurance services can be provided on the basis of a contract (in voluntary insurance) or on the basis of law (in compulsory insurance). In cases where the provision of services is necessary from the standpoint public interest, the policyholder is forced to purchase insurance services. In voluntary insurance, a different approach is used. The insurer seeks to limit increased risks. So, in foreign insurance The owner of a car may be refused insurance if he is found to have violated the rules traffic, or the owner of the property if he refused to comply with the requirements of the insurance company specialist to provide additional fire safety. Joint-stock insurance organizations in our country are currently just forming their portfolio and winning clientele, therefore, in cases of increased risk, they prefer not to refuse admission to insurance, but to use an increase in prices for insurance service.

The price of an insurance service is expressed in the insurance tariff and is formed on a competitive basis when comparing supply and demand, but it is based on the amount of insurance compensation and the costs of doing business.

In a competitive environment, price is the subject of a contract, but it always moves within certain limits. The lower price limit is determined by the principle of equivalence in insurance relations, which provides for equality between the receipt of payments from policyholders and the payment of insurance compensation. The upper price limit is determined by the needs of the insurer. Exceeding it puts the insurer in a disadvantageous competitive position, and he loses the client. The price of a particular insurer’s services depends on the size and structure of its insurance portfolio, quality investment activities, quantities management expenses and expected profit.

The price of an insurance service, or tariff rate (gross rate), consists of two parts: net rate and load. It is set in monetary terms per unit of sum insured or as a percentage of the total sum insured.

Main part insurance rate- net rate - is intended to form future insurance payments to policyholders. The net rate is based on the probability of an insured event, which is determined on the basis of statistical data accumulated over a number of years (tariff period).

The net rate is determined using actuarial calculations, which are a system of mathematical and statistical techniques with the help of which the costs associated with insuring individual objects are established and the tariff rate is calculated. Carrying out actuarial calculations is associated with the study and grouping of insurance risks, calculating the mathematical probability of the occurrence of an insured event, determining the frequency and severity of the consequences of damage caused and forecasting their development trends. The basis for the formation of the net rate is the loss ratio of the insured amount, which is defined as the ratio of the amount of insurance compensation paid for a certain period to the insured amount of all insured objects for the same period. Then it is calculated average loss ratio adjusted for the risk premium. For this purpose it is being built time series loss indicators and its stability is assessed using the standard deviation indicator.

The second element of the tariff rate is the load. It includes the insurer’s expenses for conducting the business, deductions for preventive measures, reserve funds and profit from insurance operations. The share of load in the gross tariff is determined by the insurer independently.

The list of types of insurance that the policyholder can use represents the range of the insurance market. In addition to the types of insurance offered for widespread use, in some cases, individual conditions insurance for a specific object or policyholder.

The situation in the insurance market is determined by the action of many factors, the most important of which are the risk situation, the solvency of policyholders, the size of the insurance tariff, the volume and structure of the supply of insurance services, etc. The conditions for the sale of insurance services that are developing in a particular region at a given time are called the conditions of the insurance market. The situation characterizes, first of all, the degree of balance between the demand and supply of insurance services and, depending on this, can be favorable or unfavorable for both the insurer and the policyholder.

A developed market assumes that supply outstrips demand. The objective basis of demand for an insurance service is the need for insurance, which is realized as insurance interest. The insurance interests of society are extremely diverse. Thus, the insurance interests of the population are determined not only by the level of material well-being of the family, but also by the lifestyle of the potential policyholder, his belonging to a particular nationality and social group, age, gender, etc.

The objectively existing need for insurance does not automatically transform a potential policyholder into a real policyholder. A potential policyholder will only enter into an insurance relationship when the insurable interest is realized by him. But the presence of insurable interest is not identical to the demand for an insurance service, since in order to purchase it, the potential policyholder must be solvent. Therefore, the insurer, when offering its services, must show it economic feasibility and profitability for the policyholder. The need to help the policyholder determine his insurable interest is especially important for the entire Russian insurance market, since previously existing insurance traditions have been lost, and in some cases they have not even had time to take shape. In addition, the insurance service must be structured in such a way that its price corresponds to the solvency of the policyholders for whom it is intended.

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IN regional distribution insurance premium as one of the most important indicators insurance activity is clearly dominated by Moscow. The amount of premium accumulated by Moscow insurers largely consists of revenues from their regional branches and representative offices.

A noticeable outflow of insurance funds from the regions gives rise to a clash of interests between the federal center and the constituent entities of the federation, which is expressed in the creation of obstacles to the opening of branches and their activities, and sometimes even an outright ban. This is a fairly serious problem that requires solutions both legal and economic methods, including measures to comply with the Constitution of the Russian Federation and federal legislation.

Table 1.7. Distribution of insurance premiums by region, 1997

Source: data from the State Statistics Committee of the Russian Federation.

Changes in the system of taxation and investment of reserves could ease the conflict of interests of federal insurers and Russian regions. In conditions current system taxation of profits of insurance companies, tax payment is carried out at the location of the parent organization (firm), i.e. mainly in Moscow. The current order is due to the mechanism for determining profit, taking into account receipts and payments for all regional branches (representative offices), and the latter’s lack of an independent balance sheet. The outflow of money from the region to the center can be compensated by subsequent transfer to regional budget part of the profit received by the company. Some companies do this, calculating the actual “regional profit” or calculating it conditionally in proportion to the collected premium. However, in this case, the distribution of tax revenues is determined not by legislation, but by agreement of the parties, most often by the “good” will of federal insurers, and each of them has the right to act in their own way.

Economic injustice and inevitable subjectivity in the distribution of funds can be eliminated by replacing the taxation of profits from insurance activities with the taxation of insurance premiums. In this case, each region will receive into its budget a firmly established share of the insurance premium earned on its territory. This will remove the opposition between “our own” and “foreign” insurers that exists in practice; the main criterion will be the efficiency of work, reflected in the increase in insurance premiums and contributions to the budget.

An important area for coordinating the interests of all parties is investing part of the technical and free reserves in the region. In this case, firstly, the legal requirements and recommendations of the insurance supervisory authority for the placement of reserves must be observed. Secondly, it is necessary to abandon the practice when, under pressure from regional administrations, insurers make investments that lead to the loss of invested funds and bankruptcy of companies. However, the key issue is the availability of reliable financial instruments, in which can be invested insurance reserves. Such instruments, in the context of relations between insurance companies and regions, could include municipal securities and shares of local companies. The real solution to this problem is closely related to the restoration financial markets in Russia, the sustainable creditworthiness of the regions, which will require at least several years.

Insurers are looking for more effective ways to gain a foothold in regional markets. In particular, the practice of concluding cooperation agreements between leading Russian companies with administrations of territories and regions. Thus, Rosno entered into an agreement with the administrations of the Leningrad and Saratov regions, the Industrial Insurance Company - with the Lipetsk, Oryol and Tula regions. Acts in the same direction insurance group“Spassky Gate”, “Renaissance-Insurance” group and other insurers. The agreements provide for the priority of insurers' activities in the region in exchange for investments in regional facilities.

In most Russian industrial regions, including the Sverdlovsk, Tyumen, Tomsk and Irkutsk regions, there is a reduction in property insurance. Exacerbation economic crisis, which led to a further reduction in production volumes in 1998, had a negative impact on the size of property insurance. At the same time, in a number of regions the share compulsory insurance significantly exceeds average level across Russia. In the Buryat Autonomous Okrug it is 100%, in Magadan, in Kamchatka, in Astrakhan regions, V Stavropol region ranges from 91 to 95%. This reflects very poor development in these regions voluntary species insurance.