Banking risk insurance: world experience and Russian realities. Banking risk insurance Kanamat Kemal Madzhirovich Foreign experience in financial risk insurance

Introduction of a mortgage insurance system in various countries:
USA, Canada, Great Britain, Lithuania and a number of others - led to a significant increase in the total volume of mortgage housing loans issued by credit institutions, an increase in the number of lenders willing to work in the market mortgage loans.
As a government system, the insurance system credit risks was introduced in the United States in 1934 and immediately after World War II in Canada. Subsequently, private mortgage insurance institutions developed in these and a number of other countries.
The creation of the Federal Housing Administration (FHA) by the US Government in 1934 was a successful example of a way out of the severe crisis that had struck banking system and undermined the solvency of the majority of borrowers, a step that had a positive impact on the growth and development of the primary and secondary mortgage loan markets. Within the framework of the FJA, we developed and implemented a large number of special government programs for credit risk insurance aimed at increasing the availability of loans for families with average and lower average incomes, young families purchasing housing for the first time, and other categories of the population not previously considered by banks as reliable borrowers.
The indisputable merit of the FHA was not only the creation of a reliable and self-sustaining mortgage risk insurance system, but also effective measures to standardize the mortgage loan market, aimed at minimizing credit risks, introducing methods and guidelines for the provision and servicing of mortgage loans, development and
introduction of self-amortizing credit instruments, increasing terms credit period up to 30 years, introduction unified forms loan documents, determining requirements for the reliability and professionalism of banks that began to participate in the programs.
As a result, loans insured by the FJA have become a reliable and liquid product for lending banks. Created in the 30s of the twentieth century state corporation Fannie Mae, and subsequently two other corporations, Ginnie Mae and Freddie Mac, began to buy, securitize and refinance insured loans by issuing mortgage-backed securities and selling them to investors.
It should be noted that private mortgage insurance companies do not insure loans 100%, as FJA does, but only for a portion of the loan, usually not exceeding 25 - 50%. This, on the one hand, reduces the cost of insurance, on the other hand, does not completely remove credit risk from the bank. Credit risks are divided between the bank that issued the loan and the insurance company. Over the past 30 years, the mortgage insurance market in the United States has become a profitable and reliable area of activity for private businesses. Currently, simultaneously with state system private insurance companies have successfully started operating Insurance companies.
In Canada, a large stimulating effect was also noted in the introduction and development of a system of public and private mortgage risk insurance.
The Canada Mortgage Housing Corporation was created in 1946 under the name Central Mortgage and Housing Corporation. In 1979, it was renamed Canada Mortgage and Housing Corporation (CMHC). This is a state corporation. Its activities are regulated by the state on the basis of the following legislative acts: Law on SMNS, National housing law(NHA), Financial Regulation Act.
The corporation has 6 regional centers, one in each province of Canada. There are currently more than 2,000 employees at the Ottawa head office alone.
However, there are other significant examples of the creation of mortgage insurance programs. Hong Kong provides an excellent economic example of how a successful mortgage insurance program in the right environment can positively impact homeownership growth and the expansion of the mortgage insurance industry. In early 1999, Hong Kong first used mortgage insurance, which expanded the possibilities of mortgage lending. It became possible to provide loans with a maximum level of LTU ratio from 70 to 85%, and sometimes up to 90%. This significantly increased housing affordability because more borrowers could make a down payment of 10 to 15% than with minimum size down payment at 30%, which was mandatory before the introduction of mortgage insurance. The banking regulator has lowered risk-based capital requirements for banks on mortgage-insured loans. Risk management standards have been improved as a result of third-party reviews of underwriting procedures by mortgage insurers. The Insurer Regulator has imposed stringent capital and rating requirements on mortgage insurers to ensure safety and reliability financial system Hong Kong. As a result, more than 12,000 borrowers used mortgage insurers to become homeowners. Annual volumes of mortgage loans increased to $15 billion. The statistics speak for themselves; in 1997, the share of mortgage lending in GDP was 27.3%, and in
2002 increased to 42.4% due to the introduction of mortgage insurance.
Consider the situation in Europe. A number of states have government instruments mortgage insurance - Finland,
France, Sweden, Belgium, UK. IN Lately Mortgage insurance programs have also been introduced in the Baltic countries. In addition to this, on mortgage market Private mortgage insurance companies also operate. The reason why these countries decided to implement state or private system mortgage insurance is an acknowledgment that there are shortcomings in the systems associated with government programs housing subsidies. Of course, under certain circumstances, a system of benefits and subsidies can be beneficial, but it must be developed in each individual country, taking into account local specifics. It is impossible to completely abandon subsidies without offering alternative solutions to the problems of borrowers.
Issues of national housing policy in Europe fall under the competence of individual governments, and not the European Union. This creates some difficulties when solving problems, most of which are similar to the problems in Russia: the construction of affordable housing as well as the production of consumer goods, the volume of loans to the population, etc. These issues are not specific to emerging markets, but are being discussed in both the UK and France. This is due to the development and evolutionary changes in the market as a whole, and in the market work force in particular. New problems appear that need to be solved. An example is the situation in Great Britain. This country ranks first in Europe in terms of the number of homeowners. It is above the EU average. However, the government is considering how to raise this level even higher. This is a response to evolutionary processes in society - there is a segment of the population that is not covered by the services of the mortgage market.
In a number of countries, after the introduction of a single European currency, after the conclusion of the Maastricht agreements, a more stringent fiscal policy. Not every European country can now easily provide subsidies to help certain segments of the population
and the housing market. An example is Portugal. The Portuguese housing market was highly subsidized. But now, step by step, the state is ending this policy. The same can be said about Italy. Unfortunately, there is no coherent housing policy in Italy. The only criterion is the availability of money at a certain moment to spend on its implementation. As a result of this, only at the end financial year you can understand whether there are euros to spend on housing needs or not. The state is moving away from addressing issues of housing provision. A huge amount of public housing is currently being sold, again due to budgetary constraints. At the same time, at the regional level one may encounter the opposite phenomenon. There is an area in Italy where the provision of a state guarantee has now been introduced over the last two years to ensure access to property for young families. Of course, they are guaranteed a certain amount of loans. Moreover, this guarantee applies only to citizens living in this area and meeting the requirements of additional criteria. But, nevertheless, this indicates the presence of differences in approaches. On the one hand, there are budgetary constraints that prevent the government from investing and subsidizing the housing market. On the other hand, there is political interest in housing policy because the market has posed a number of problems that need to be addressed. It is necessary to take into account the ratio of housing prices and citizens' incomes - they differ enormously. In some European countries The difference between housing costs and household income continues to widen.
Taking into account their own and others’ negative experiences in the mortgage insurance market, its participants draw certain conclusions, which are reflected either in regulations or in the charters of insurance companies. Thus, the basic principles for constructing mortgage insurance programs abroad have been formed, which are as follows:
¦ the advisability of reserving funds taking into account the risk in an amount sufficient to meet all requirements, including those that may arise during a period of serious economic downturn;
¦ the need to use our own independent criteria for selecting lenders to participate in the program, as well as criteria for underwriting specific loans - both criteria do not depend on political factors;
¦ annual invitation (mandatory) of non-state (private) audit companies to conduct financial and production audits in addition to standard audits and inspections carried out by government regulatory agencies;
¦ ensuring the receipt and further maintenance of the minimum investment rating, confirming the organization’s ability to meet payment requirements (regardless of any reserve government guarantees that the organization may have);
¦ determination of the amount of loan insurance coverage (percentage of the first loss), allowing the bank to be confident that, from the point of view of risk exposure, it will remain in the same or even slightly better position compared to what it would be if a loan with a base rate of LTU 70% were not insured. For example, a loan with a BTU of 85% should have a minimum insurance coverage of at least 20%, and the most acceptable maximum coverage for it would be 30%;
¦ requirements for insured loans: firstly, housing that meets certain quality standards (established by the lender bank and (or) insurance company), secondly, borrowers are individuals, thirdly, borrowers purchasing housing as property;
¦ a conservative indicator of the maximum permissible insured LTU is initially applied - it should be higher than the current uninsured basic LTU, but lower than the expected final indicator;
¦ risks should be accepted after information about individual loan reviewed by a mortgage insurer, but only after the loan has passed underwriting and been deemed acceptable by the lender.
As can be seen from the examples listed above, the introduction of a mortgage insurance system stimulates the mortgage loan market, introduces some requirements for both lenders and borrowers, and allows for an increase in the level of LTU, which makes housing more affordable. In countries where both government and commercial mortgage insurance are available, potential clients have a choice between full risk coverage, but at a higher cost, or partial coverage, but, accordingly, at lower tariff rates. Mortgage insurance systems in each country did not immediately take the form that exists now. This is the result of practical work, improving underwriting, processing constantly updated data, and increasing requirements for mortgage lending.
Summarizing the above, it can be noted that the advantages of mortgage insurance for lenders are to reduce credit risk associated with the borrower’s default, and the ability to offer an expanded list of mortgage credit products aimed at a wider range of borrowers. The advantages of mortgage insurance for borrowers are as follows: firstly, the availability of loans increases due to more high level LTU and, therefore, the amount of the down payment decreases; secondly, they decrease interest rates on mortgage housing loans, since mortgage
insurance generally reduces credit risk for the lender; thirdly, a credit institution may decide to increase its loan portfolio by expanding the range of loan products and categories of potential borrowers.

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Kanamatov Kemal Madzhirovich. Banking risk insurance: Dis. ...cand. econ. Sciences: 08.00.10: Moscow, 1998 224 p. RSL OD, 61:00-8/345-1

Introduction

CHAPTER I. ECONOMIC CONTENT OF INSURANCE PROTECTION IN THE BANKING SECTOR

2. Risky nature banking and insurance protection as one of the methods of managing banking risk - 26

3. Classification of types of insurance of banking risks 48

CHAPTER II. PROVIDING INSURANCE PROTECTION FOR COMMERCIAL BANKS

1. Foreign experience in insuring banking risks 68

2. Historical aspect development of banking risk insurance 101

V Russian Federation

3. Characteristics of types of insurance of banking risks in the country 113

hot market of the Russian Federation

CHAPTER III. PROMISING INSURANCE PRODUCTS IN THE BANKING SECTOR AND THE POSSIBILITY OF THEIR APPLICATION IN THE RUSSIAN INSURANCE MARKET

1. Problems of insurance protection bank deposits 133

2. Insurance protection of the bank plastic cards market 152

3. Prospects for improving relations between insurance companies 172

companies and commercial banks in the Russian Federation

CONCLUSION 187

REFERENCES 191

APPLICATIONS 199

Introduction to the work

Over the past ten years, since the late eighties, we have been able to observe rapid development financial market In Russian federation. First of all, against the backdrop of this growth, the increasing role of banks in the country’s economy, their formation and further development stood out. To date, as of December 1, 1998, there are a total of 2,498 applications in Russia.

registered commercial banks, of which 1,509 are actually operating 1.

System financial crisis, which takes place in our country and has affected, without exception, all sectors of the national economy, will undoubtedly affect the number of banks that can survive and operate further, but in any case, the market associated with the work of commercial banks as subjects of economic activity remains. It is possible that in the post-crisis period the extensive development of the banking sector will cease, but the need for the existence of a system of commercial banks as an important component of a market economy is of decisive importance for reforming the national economy of the Russian Federation.

The need to overcome the acute financial and economic crisis and reform the economy in modern stage, have presented the insurance industry of the Russian Federation with a number of current problems, requiring solutions. One of these problems is providing effective insurance protection in banking sector National economy.

The interaction of two different sectors of the financial market - banking and insurance - went through several stages during its development. The nature of the relationship between banks and insurance companies has been a very little-studied problem to this day. Very few economic

* studies that would try to look at and analyze the nature of
these connections.

1 The official server of the Central Bank of the Russian Federation on the INTERNET computer network - .

This work is perhaps one of the first attempts in Russian economic practice to consider commercial Bank as a subject of insurance relations and as an object of commercial interest of the insurer.

Currently Russian banks are limited mainly to two types of insurance - insurance of bank property and collection transportation. The practical goal of this study is to determine the most complete “package of insurance services” that Russian insurance companies can offer to commercial banks to protect the property interests of the latter. However, this practical problem cannot be solved without a theoretical justification of the concept of banking risk, insurance banking risk, classification of types of insurance of banking risks.

In modern publications, including even special ones, insurance of banking risks is almost always mistakenly understood as the creation by the bank reserve funds, reserving part of the funds in the form of deductions in the Central Bank of the Russian Federation (creation of a centralized insurance fund), hedging operations and others.

Insurance companies consider the bank as a subject of insurance legal relations, having two groups of insurance interests. The first group combines traditional risks characteristic of all business entities (property, transport, professional liability of employees and others). The presence of the second group of insurance interests is determined by the fact that in the activities of a commercial bank there are a huge number of risks associated with the specifics of this particular type of activity. A modern commercial bank is a complex business entity that performs a large number of different operations and has a wide range of clients, partners and counterparties. The functioning of all sectors of the national economy depends on the smooth functioning of the bank. In addition, the stable operation of the banking sector is of great social importance.

That is why banking risk insurance must be considered as a comprehensive type, i.e. insurance that combines various

branches, types and subtypes of insurance activities. As an analogue, we can cite construction and installation risks insurance, which includes three main types of insurance - construction and installation works, civil liability to third parties and insurance of post-launch warranty obligations, as well as a number of additional ones - insurance of workers against accidents, cargo transportation and others.

All this indicates the relevance of the topic of the dissertation research, which studies the insurance interests of commercial banks and their counterparties, the relationship between the insurer and policyholders arising under banking risk insurance contracts, issues related to development problems and the creation of the necessary incentives for the further expansion of insurance in the banking sector. market.

One of the important tasks of our work is to determine the insurance interests of commercial banks and identify precisely those areas of banking activity where insurance protection is most effective compared to other methods of minimizing risks and the use of commercial insurance opportunities in the banking business.

Other objectives of this dissertation research are to construct a classification of types of banking risk insurance, analyze and study the accumulated experience of banking risk insurance abroad and in our country abroad. last years, development of insurance products that can be offered by domestic insurers for Russian commercial banks, research of insurance in such specific areas of the bank’s activities as deposit operations and the bank plastic card market. In addition, the work will analyze and determine ways to further develop the relationship between insurers and banks in the Russian Federation.

fc Currently, such well-known Russian economists as Kolomin E.V., Lavrushin O.I., Larionova I.V., Or-lanyuk-Malitskaya L.A. are paying great attention to these problems. Sevruk V.T., Spletukhov Yu.A., as well as foreign authors Napmen W.J., Rose P.S., Brown R.F.

When conducting this study, the works of domestic and foreign scientists in the field of insurance and banking were used.

The work was carried out on the basis of the study, generalization and analysis of the legislation of the Russian Federation, official materials of state bodies

military authorities of the Russian Federation, including the Government of the Russian Federation, the State Duma, the Department of Insurance Supervision of the Ministry of Finance of the Russian Federation and the Central Bank of the Russian Federation.

During the research process, practical materials from Russian insurance organizations and commercial banks, as well as foreign primary sources, were used. Periodical press materials were widely used, mainly economic magazines and newspapers.

We used statistical data published in periodicals, as well as in the materials of the Department of Insurance Supervision of the Ministry of Finance of the Russian Federation, the Association of Russian Banks, the Ministry of Internal Affairs of the Russian Federation, insurance and banking special printed and computer publications.

Economic category of insurance protection and its use in the banking sector

In modern Russian, the concept of “insurance” is defined as “a system of measures to create a monetary (insurance) fund at the expense of contributions from its participants, from the funds of which damages caused natural disasters, accidents, and also pays other sums of money in connection with the occurrence of certain events"1. In insurance theory, this term is interpreted as follows: “insurance acts as a set of special closed redistribution relations between its participants regarding the formation of cash contributions a target insurance fund intended to compensate for possible emergency or other losses to enterprises and organizations or to provide cash assistance citizens"2. The main legal document defining the procedure and methods of insurance, that is, the Law of the Russian Federation "On the Organization of Insurance Business" provides the following definition:

“Insurance is a relationship to protect the property interests of individuals and legal entities upon the occurrence of certain events (insured events) at the expense of monetary funds, formed from the insurance contributions (insurance premiums) they pay.”

In other words, insurance is a set (system, complex) of economic relations regarding education, through contributions (payments, premiums) of legal entities and individuals, from specialized enterprises (insurance organizations - insurers) of trust funds intended for payments insurance compensation and insurance coverage in amounts pre-determined by insurance contracts, with pre-established legal entities and individuals (policyholders, insured, beneficiaries) upon the occurrence of events (insured events) specified in the insurance contract, resulting in property damage, loss of income or financial liability of the person who entered into insurance contract, as well as in other provisions provided for current legislation or the relevant agreement, cases.

From the various definitions of the concept of insurance given above, the following points can be identified, which can be considered fundamental in this matter:

1. Insurance implies economic relations, which require the participation of at least two parties - the insurer and the policyholder.

2. An insurer can only be an organization that has the legal right to engage in such activities, that is, one that has received a license to conduct insurance. It is the insurer that develops the most rational insurance conditions acceptable to both parties, as well as prices for insurance service. The insurer provides financial institution insurance process, including the formation of insurance funds.

3. The insured can be either an individual or a legal entity who has a need to protect their property interests related to life and health, and the safety of property.

At the expense of funds contributed by the policyholder (insurance premiums, payments, contributions), an insurance fund is formed to cover possible losses. This is the basic principle of insurance - redistribution relations within the circle of participants in the formation of the insurance fund, based on a closed joint distribution of damage and determined by the random (probabilistic) nature of the use of the insurance fund.

The important fact is that the damage is laid out in space and time. There is a direct relationship between the size of the territory and the number of objects that can be insured. The larger the territory, the higher the opportunity to ensure a normal distribution of damage between the participants of the insurance fund.

The distribution in time is due to the fact that if there were no insurance payments during a certain period, then part of the received insurance payments will be a source of formation of insurance reserves, and can be used to make insurance payments in unfavorable periods.

The very concept of “insurance” contains the meaning of compensation for damage as a result of unforeseen circumstances, accidents, when any predetermined event is considered as an insured event. In other words, the risky nature of insurance is one of the fundamental ones for this economic category. Moreover, the risk factor and the need to cover possible damage as a result of its manifestation cause the very need for insurance.

Foreign experience in insuring banking risks

In developed foreign countries We have accumulated a wealth of experience in insuring various property interests of banks. The history of such insurance goes back many decades. The first banking risk insurance agreement was concluded in 1911 in the USA. Over the period that has elapsed since then, an insurance protection system has been developed in the banking business, covering almost all objective channels of financial losses, that is, external risks of banks. The leading insurers in this area are members of the British insurance corporation Lloyd s.

Currently, banking risk insurance has been widely developed in many countries. For example, in the USA more than 2,000 banking risk insurance contracts are concluded annually. At the same time, for several years now, insurance against risks associated with robbery has been mandatory for American banks.

The growing popularity of banking risk insurance in the world is due to a number of reasons. One of them is the expansion of the insurance field, i.e. growth in the number of banks, their assets and capital, increase in volumes banking operations. Another reason forcing banks to resort to insurance is the increase in the frequency and range of risks causing losses, the growth in the volume of damage caused by various random events.

Finally, the presence of an insurance contract improves the image of the bank, helps to attract customers and investments, since it reduces the risk of its insolvency and bankruptcy. This is due to the fact that in addition to insurers providing guarantees for compensation for losses caused to the bank, when concluding insurance contracts, insurers carefully monitor its activities.

This is expressed in the fact that they usually require a comprehensive audit of the bank’s activities, which includes an analysis of its financial condition, a check of the security system, conditions of transportation and storage of valuables, etc. Based on the results of checks carried out audit firms and the insurers themselves, a list of activities is being developed that the bank must carry out in order for the insurance contract to come into force. The conditions for providing insurance coverage are also the organization of strict control by the services internal audit and safety, detailed definition and delimitation in banking instructions job responsibilities and powers of employees, ensuring the reliability of technical communications and computer networks.

During the period of validity of the insurance contract, in accordance with its terms, insurers also periodically monitor the work of the bank and, based on the results of inspections, give instructions that help reduce the likelihood of insured events and losses from them.

In order to encourage banks to comply necessary measures, reducing the likelihood of losses, insurance companies, as a rule, enter into insurance contracts with an unconditional deductible, without fully compensating the damage caused to the bank as a result of the occurrence insured event.

The elements of the banking risk insurance system used in developed foreign countries, first of all, can be divided into two groups. The first of them covers insurance objects and insurance risks, common to almost any enterprise and organization. The second category includes such objects and insurance risks, the need for insurance protection, in relation to which it is explained precisely by the specificity of banking activities. This division has already been shown when classifying types of insurance for banking risks.

Problems of insurance protection of bank deposits

One of the main types of banking operations are operations to attract funds from legal entities and individuals into bank deposits. These are the so-called passive operations. At the same time, both depositors and banks, as well as the state as a whole, have an interest in the broad development of such operations. Depositors, by depositing their money into a bank, expect to receive a certain income from deposit operations in the form of interest accrued on the amount of deposits. For banking institutions, funds raised on deposits are the most important source of resources. Finally, for the state, the amounts of money mobilized through the system of commercial banks represent one of the main sources of investment. In addition, tying up funds in bank deposits reduces the pressure money supply on the market for goods and services, as well as on the financial market, having a beneficial effect on curbing inflationary processes in the country, reducing the demand for foreign currency.

The volume of funds placed in bank deposits is influenced by many factors: the economic and political situation in the country, the standard of living of the population and its mentality, the degree of development of the banking system, the quality of services provided by banks, etc. However, one of the main ones is the degree of risk when investing funds and the availability of money-back guarantees.

It is generally accepted that investing in commercial banks involves the least risk for the investor, since banks, in terms of the nature of their operations, the volume of accumulated funds, and the legislation regulating their activities, state supervision behind them are usually one of the most stable parts of the economy. At the same time, both world and domestic history knows numerous cases of bank failures. At different periods of time, almost all developed countries faced problems with the safety of bank deposits.

Therefore, it is widely practiced around the world to provide depositors with guarantees in the form of insurance of bank deposits. The essence of such insurance is that the insurer undertakes obligations to depositors to return the funds invested in the bank in the event of bankruptcy of a commercial bank or its inability to return the money. At the same time, there is no uniform scheme for all countries of this insurance, which is explained by significant differences in the banking systems of each country.

According to the methodology adopted by the International Monetary Fund (IMF), all methods of deposit insurance are conventionally divided into the following two systems:

a system of not expressly expressed guarantees;

a system of positively expressed guarantees.

When using the first system, there is usually no special legislation and other regulations, which regulate the procedure, forms, and amounts of compensation for losses to bank depositors in the event of its bankruptcy. In addition, there is no practice of creating special funds intended to compensate for such losses, but there are only abstract obligations of the state or other authorities to preserve the funds invested in banks. In this case, the procedure for compensation of losses is decided in each specific case at the discretion of the state.

Such systems are usually used in countries where the banking systems are highly dependent on the state and have not yet experienced serious crises.

At the same time, insurance systems with positively expressed guarantees are often created as a result of crises that hit the banking system of a particular country. Examples of this are the history of the creation of such systems in the USA, Great Britain, Italy, and Argentina. The main principles of this system are the existence of a legally established procedure for guaranteeing the return of bank deposits, as well as an insurance fund specially created for this purpose.

Our country should for now be classified as one of those states that has a system of non-directly expressed guarantees to bank depositors. In particular, in accordance with the legislation of the Russian Federation, the state guarantees the safety of the population’s deposits in those banks controlling interest shares of which he owns (in particular, in Sberbank and Vneshtorgbank), private depositors have the right, as a matter of priority, to receive the amounts they invested in the bank upon its liquidation, examples with the liquidation of a number of banks that found themselves in a difficult financial situation (for example, CB Tveruniversalbank "), show that sometimes the state gives investors the opportunity to get their money back.

Specialty of the Higher Attestation Commission of the Russian Federation08.00.10
Number of pages 224

CHAPTER I. ECONOMIC CONTENT OF INSURANCE PROTECTION IN THE BANKING SECTOR

§2. The risky nature of banking activities and insurance protection as one of the methods of managing banking risk

§3. Classification of types of banking risk insurance

CHAPTER II. PROVIDING INSURANCE PROTECTION FOR COMMERCIAL BANKS

§1. Foreign experience in insuring banking risks

§2. Historical aspect of the development of banking risk insurance in the Russian Federation

§3. Characteristics of types of insurance of banking risks in the insurance market of the Russian Federation

CHAPTER III. PROMISING INSURANCE PRODUCTS IN THE BANKING SECTOR AND THE POSSIBILITY OF THEIR APPLICATION IN THE RUSSIAN INSURANCE MARKET

§1. Problems of insurance protection of bank deposits

§2. Insurance protection of the bank plastic cards market

§3. Prospects for improving the relationship between insurance companies and commercial banks in the Russian Federation CONCLUSION

Introduction of the dissertation (part of the abstract) on the topic “Insurance of bank risks”

Over the past ten years, since the late eighties, we have been able to observe the rapid development of the financial market in the Russian Federation. First of all, against the backdrop of this growth, the increasing role of banks in the country’s economy, their formation and further development stood out. To date, as of December 1, 1998, there are a total of 2,498 registered commercial banks in Russia, of which 1,509 are actually operating1.

The systemic financial crisis taking place in our country and affecting, without exception, all sectors of the national economy, will undoubtedly affect the number of banks that can survive and operate further, but in any case, the market associated with the work of commercial banks as economic entities remains . It is possible that in the post-crisis period the extensive development of the banking sector will cease, but the need for the existence of a system of commercial banks as an important component of a market economy is of decisive importance for reforming the national economy of the Russian Federation.

The need to overcome the acute financial and economic crisis and reform the economy at the present stage has confronted the insurance industry of the Russian Federation with a number of pressing problems that require solutions. One of these problems is providing effective insurance protection in the banking sector of the national economy.

1 Official server of the Central Bank of the Russian Federation on the INTERNET computer network - http://www.cbr.nl/system/Credorg98.htm.

This work is perhaps one of the first attempts in Russian economic practice to consider a commercial bank as a subject of insurance relations and as an object of commercial interest of the insurer.

Currently, Russian banks are limited mainly to two types of insurance - insurance of bank property and cash-in-transit transportation. The practical goal of this study is to determine the most complete “package of insurance services” that Russian insurance companies can offer to commercial banks to protect the property interests of the latter. However, this practical problem cannot be solved without a theoretical justification of the concept of banking risk, insurance banking risk, classification of types of insurance of banking risks.

In modern publications, including even special ones, insurance of banking risks is almost always mistakenly understood as the creation by a bank of reserve funds, reserving part of the funds in the form of contributions to the Central Bank of the Russian Federation (creation of a centralized insurance fund), hedging operations, and others.

That is why banking risk insurance must be considered as a comprehensive type, i.e. insurance, combining various industries, types and subtypes of insurance activities. As an analogue, we can cite construction and installation risks insurance, which includes three main types of insurance - construction and installation works, civil liability to third parties and insurance of post-launch warranty obligations, as well as a number of additional ones - insurance of workers against accidents, cargo transportation and others .

Other objectives of this dissertation research are to construct a classification of types of insurance for bank risks, analyze and study the accumulated experience of insuring bank risks abroad and in our country in recent years, develop insurance products that can be offered by domestic insurers for Russian commercial banks, study insurance in such specific areas of the bank’s activities, such as deposit operations and the market for bank plastic cards. In addition, the work will analyze and determine ways to further develop the relationship between insurers and banks in the Russian Federation.

The economic necessity and essence of all types of insurance, including insurance related to the banking sector, are deeply and comprehensively developed in the works of classics of Russian and Soviet economic science, such as F.V. Konshin, J.I.A. Motylev, P.A. Nikolsky. , Reikher V.K., Reitman L.I. Currently, such well-known Russian economists as Kolomin E.V., Lavrushin O.I., Larionova I.V., Or-lanyuk-Malitskaya L.A. pay great attention to these problems. Sevruk V.T., Spletukhov Yu.A., as well as foreign authors Napmen W.J., Rose P.S., Brown R.F.

When conducting this study, the works of domestic and foreign scientists in the field of insurance and banking were used.

The work was carried out based on the study, generalization and analysis of the legislation of the Russian Federation, official materials of government bodies of the Russian Federation, including the Government of the Russian Federation, the State Duma, the Department of Insurance Supervision of the Ministry of Finance of the Russian Federation and the Central Bank of the Russian Federation.

Conclusion of the dissertation on the topic “Finance, money circulation and credit”, Kanamatov, Kemal Madzhirovich

CONCLUSION

In this work, a large segment that has not yet been exploited by Russian insurers was investigated. insurance market- insurance of banking risks. The formation and development of this segment of the insurance market is an important condition for strengthening and increasing financial stability banking sector.

The author examined a wide range of risks present in the activities of a commercial bank and tried to identify from them those risks that are insurance and can be insured using traditional insurance methods. The purpose of the work was not to analyze the essence of internal banking and interbank actions aimed at minimizing risks when conducting a number of banking operations, for example, hedging operations (futures, forwards, options and others), since this is not within the scope of this work. This work was aimed at identifying precisely the insurance risks in their traditional understanding that are present in banking activities. In other words, work was carried out to determine the scope of application of the insurance company's forces in relation to a commercial bank, as an object that has a certain and wide range of insurance interests.

According to the author, the prospects for the development of various types of insurance in the banking sector will largely depend on compliance with a number of requirements that will contribute to strengthening the overall role of insurance in the process of market transformations in our country. The author lists these requirements as:

1. Improving the economic and insurance culture of the population;

2. Development of a long-term concept for the further development of insurance in the Russian Federation;

3. Implementation comprehensive program measures related to the legal support of the banking risk insurance market;

4. Making additions to the documents regulating the procedure for the formation and placement of insurance reserves;

5. Formation, based on the development of insurance legislation, of an optimal combination of voluntary and compulsory forms of personal insurance;

6. Development of a set of measures aimed at strengthening the reinsurance market in the Russian Federation, regulating reinsurance operations when transferring risks to foreign insurance companies.

Until now, banks have generally preferred others possible ways coverage of losses from banking risks not associated with specific insurance companies. There are various reasons for this, related to economic, psychological and even historical reasons. The author hopes that this work will bring these two markets - insurance and banking - at least a small step closer and will influence the strengthening of the role of insurance in banking.

Insurance should become attractive to banks because by participating in the formation of the insurance fund by making a relatively small amounts, the bank thereby becomes one of the participants specifically created reserves with the right to a portion of these reserves sufficient to cover accidental damage. The amount of compensation due will be limited only by the amount of the insured amount agreed upon in advance when signing the contract and the actual amount of damage caused.

Unfortunately, until now, for commercial banks themselves, the opportunity to participate in insurance has not turned into a truly expressed need, which is confirmed by the events of the second half of 1998 in the Russian financial market. But we believe that it is only a matter of time. The insurance risk factor really exists, but it is not yet obvious to every bank. So far, banks attach greater importance to system-wide risk, as well as specific risks in banking activities.

In our opinion, it would be possible to propose certain ways to solve this problem in order to increase the interest of commercial banks in insuring their risks and strengthen the role of insurance in credit and banking activities. These are measures such as:

1. Legislative measures:

Granting the right to banks insuring their risks to attribute to expenses (cost) all relevant insurance payments;

Exclusion from the Civil Code of the Russian Federation of the ban on insurance against kidnappings and hostage-taking;

Acceleration and completion of legislative work on the introduction of permanent current system compulsory insurance bank deposits using insurance mechanisms;

Introduction of certain types of compulsory insurance for commercial banks based on the adoption of relevant legislative acts. For example, insurance against counterfeiting of plastic cards, securities and payment documents, against crimes related to penetration into computer networks and banking communication systems, against loss of valuables during their transportation, liability insurance for certain categories of bank employees. In particular, the Central Bank of the Russian Federation could include such requirements in the currently being developed “ State standards on bank security";

Adoption of the Federal Law “On the Circulation of Payment Cards in the Russian Federation”, which will provide precise definitions of all participants in the plastic card market and clearly define their areas of responsibility for the circulation of cards;

Development of standard conditions for comprehensive insurance of banking risks and approval of the licensing procedure by the Department of Insurance Supervision of the Ministry of Finance of the Russian Federation.

2. Organizational measures:

Introduction of comprehensive bank insurance based on the B.V.V. policy. Lloyd's by adapting it to the specific conditions of the Russian financial market, but in compliance international standards;

Establishment of survey, valuation and brokerage work for insurance of banking risks. This is very important for a preliminary assessment of the bank’s position for carrying out insurance and compliance with the conditions and standards of Western insurers for reinsurance purposes;

Training of insurance company specialists, knowledgeable about the job bank and understanding the specifics of banking activities;

Debugging methods for collecting and obtaining information on incidents in the credit and banking sector for correct insurance calculations and to eliminate problems with information, methodological and other materials that allow one to correctly assess the degree of insurance risk, draw up and conclude an insurance agreement, and eliminate damage when an insured event occurs.

Establishing connections between insurers and bankers. The conclusion of general agreements between ARB and a number of insurance companies, as mentioned in this work, is the first step in this direction. It is also possible to create joint public organizations that support the common interests of insurance companies and banks.

We hope that the present work is an important step towards achieving these goals. In any case, there is no doubt that banking risk insurance can become a promising area of activity for many insurance companies and play a role in achieving stabilization and strengthening financial situation banking sector of the Russian Federation.

Please note that the scientific texts presented above are posted for informational purposes only and were obtained through original dissertation text recognition (OCR). Therefore, they may contain errors associated with imperfect recognition algorithms. There are no such errors in the PDF files of dissertations and abstracts that we deliver.

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Introduction

The essence and types of banking risk insurance

Foreign experience in insuring banking risks

Current state and problems of banking risk insurance in Russia

Prospects for the development of banking risk insurance

Conclusion

List of used literature

Application

Introduction

One of the trends in modern Russian banking practice is the use of insurance. Insurance acts as one of the stabilizers of the economic and social situation in the country and as one of the spheres of the economy and business. For banks, insurance is considered one of the risk management methods. The specificity of insurance protection is compensation for damage upon the occurrence of an insured event. The social and public function of insurance is to protect the bank from adverse external and internal influences that should not affect the financial stability of the credit organization, and therefore the state monetary system states. In addition, the importance of insuring banking risks is due to the fairly high degree of probability of their implementation, especially in unfavorable economic or political situations in the country. Different insurance programs allow you to neutralize possible losses.

The use of insurance in banking practice is necessary to manage part of the banking risks, and, in addition, allows you to expand the range of banking products offered. Foreign insurance has gone through a longer development path than Russian, but Russian banks also have access to all well-known foreign practice types of insurance products, so Russian banks have begun to value insurance more, and there is a trend towards the development of the insurance market in banking.

Cooperation between banks and insurance companies allows banks to manage their own risks, modify banking products, create factors that determine the demand for banking products and insurance services. During joint activities banks and insurance companies, the client receives the most convenient range of services, which may include insurance and banking services that complement each other in such a way that overall service productivity increases significantly. It should be noted that a significant disadvantage of using insurance in banking practice is the increase in the cost of the product for the client or additional expenses for the bank. However, a bank that has insured its risks will have an advantage in the interbank market, increasing the degree of business reputation and trust, both among financial institutions and on the part of its clients.

All this indicates the relevance of the topic of this course work, which studies the relationship between the insurer and policyholders arising under banking risk insurance contracts, issues related to development problems and the creation of the necessary incentives for the further expansion of insurance areas in the banking market.

Thus, the purpose of this work is to identify the main problems and prospects for the development of banking risk insurance in modern economic conditions.

This goal dictates the solution of the following tasks:

consider the essence and types of banking risk insurance in Russia;

study foreign experience in insuring banking risks;

analyze current state and identify the main problems, as well as determine the prospects for further development of this field of activity.

The theoretical and methodological basis of the study was the scientific works of economic classics, the results of fundamental and applied research modern domestic and foreign scientists. During the study, legislative and regulatory acts of the Russian Federation, monographic studies, reviews of periodical Russian and foreign publications on the topic under consideration, and thematic Internet pages were studied.

The essence and types of banking risk insurance

It is necessary to distinguish between the concept of “insurance” in a narrow sense and in a broad sense. In the narrow sense, these are actually those relations that are regulated by the Law of the Russian Federation No. 4015-1 of November 27, 1992 “On the organization of insurance business in the Russian Federation” and are the subject of activities of specialized insurance organizations (insurance and reinsurance companies).

In a broad sense, insurance also covers social insurance, mandatory health insurance, mutual insurance and captive insurance, which are governed by different statutes.

The broad concept of insurance includes all those economic relations that express the creation of special monetary funds from contributions from individuals and legal entities and the subsequent use of these funds to compensate the same or other persons for damage (harm) upon the occurrence of various unfavorable events in their lives and activities, and also for payments in other cases stipulated by the terms of insurance.

As the economy develops and the country’s social infrastructure improves, the nature of interaction between these areas will certainly change. Certain functions can be transferred in the process of competition or on the basis of changes in legislation from one area of insurance relations to another.

The first, initial sign of classification in insurance is its division into two areas:

non-profit insurance;

commercial insurance.

Non-commercial insurance includes social insurance, compulsory health insurance and mutual insurance. Commercial insurance includes primary (direct) insurance, including coinsurance and reinsurance.

Next the most important aspect Classification in insurance is an industry aspect. There are following three branches of insurance - personal insurance, property insurance and liability insurance. The Law of the Russian Federation “On the organization of insurance business in the Russian Federation” clearly defines the commonalities and differences of each of the insurance sectors. Differences between industries are determined by the peculiarities of the emergence of property interests of policyholders.

According to the forms of insurance, insurance is divided into voluntary and compulsory. The principle of voluntary insurance is the most consistent with a market economy. The legislation defines only the mandatory attributes (details) of the insurance contract (insurance policy), and the remaining conditions are determined by the agreement between the insurer and the policyholder.

As an additional classification of types of insurance that relate directly to our topic, namely the insurance of banking risks, we can include grouping types of insurance into certain industries, areas or areas of activity of a commercial bank. In our case, this is the identification of specific banking areas of activity. This classification reflects the specificity of the object in question, in our case a banking institution, from the point of view of the insurer, and its place in the modern financial system.

For this purpose, the following directions can be distinguished:

deposit operations (passive operations, to raise funds);

credit transactions ( active operations, on placement of funds) -,

operations in the market of bank plastic cards (both credit and debit

leasing operations.

In accordance with the classification principles described above, a classification of types of banking risk insurance is proposed below.

Also, in this classification of types of insurance, for the sake of completeness of perception of this classification and to create a holistic picture of insurance in the banking sector, types of insurance are given that are not directly related to banking risks. These types of insurance relate to the banking sector as a whole, that is, they are associated with the insurance interests of bank clients - legal entities and individuals, and thus indirectly affect the activities of the bank and the level of risks in its activities.

The classification given below corresponds to the Law of the Russian Federation “On the Organization of Insurance Business in the Russian Federation”, does not contradict the Civil Code of the Russian Federation and reflects not only the established practice of insuring bank risks, but also insurance products that are potentially possible for use.

Classification based on commercial and non-commercial insurance:

Non-profit insurance may be of interest only in terms of social and compulsory medical insurance for employees of commercial banks, as ordinary employees of commercial organizations.

Accordingly, all other types of insurance can be classified as commercial insurance. existing species insurance of bank insurance risks.

Classification by forms of implementation:

When classifying types of insurance of bank insurance risks according to forms of implementation, it is necessary to carry out the following grouping: Compulsory insurance:

life insurance and medical insurance for employees of the Central Bank of the Russian Federation (insurance for employees of the Central Bank of the Russian Federation as civil servants);

life insurance for employees engaged in detective and security activities, working for hire - at the expense of the bank, in connection with the implementation of professional activities;

insurance of citizens' bank deposits;

insurance of property acting as collateral - by the pledgor;

Voluntary insurance:

all other types of insurance of bank insurance risks. Classification by insurance industry:

Personal insurance:

1. Life insurance:

various types of life insurance for the management of a commercial bank;

various types of life insurance for bank employees and persons working under temporary contracts;

pension insurance for management and employees of a commercial bank;

various types of life insurance for bank clients, including:

life insurance of clients - individuals who are borrowers of the bank (credit insurance);

life insurance for bank clients - legal entities and individuals, included as additional service on deposits;

life insurance for bank clients - legal entities and individuals, included as an additional service for holders (owners) of bank plastic cards (credit, debit, chip (settlement);

Accident insurance:

accident insurance for the management of a commercial bank;

accident insurance for various categories bank employees and persons working under temporary contracts;

accident insurance for bank clients, including:

insurance of the client against loss of ability to work as a result of an accident (credit insurance);

accident insurance for bank clients - legal entities and individuals, included as an additional service for bank deposits;

accident insurance for bank clients - legal entities and individuals, included as an additional service for holders (owners) of bank plastic cards (credit, debit, chip (payment);

Voluntary health insurance:

voluntary health insurance ( medical expenses) for bank management;

voluntary collective medical insurance (medical expenses) for bank employees and persons working under temporary contracts;

for holders of bank plastic cards (credit, debit, chip (payment) - traveling abroad;

for holders of bank plastic cards (credit, debit, chip (payment) - traveling across the territory of the Russian Federation;

Property insurance:

When insuring property, we can distinguish, in accordance with the general insurance classification, the following sub-sectors of property risk insurance related to the specifics of the insurance objects:

Classic property insurance against fire and related risks;

Insurance of specialized bank property;

Insurance of electronic and computer equipment;

Motor vehicle insurance;

Property insurance for individuals;

Other types of property insurance;

Insurance against downtime (interruptions) in the activities (business) of a commercial bank (or a branch, a separate direction, type of activity (the so-called “insurance of indirect risks”);

Insurance financial risks;

Cargo (transportation) insurance;

Liability Insurance:

Insurance of borrowers' liability for non-repayment (non-repayment) of loans (principal amount together with or without interest on it).

Liability insurance for bank employees in case of disclosure of contents bank documents;

Insurance of liability of directors and employees of the bank to the Board of Directors or to shareholders;

Professional liability insurance for various categories of bank employees, including tellers, cashiers, collectors, security guards, etc.

Liability insurance for securities registrars;

Depository liability insurance.

Insurance of civil liability of banks as owners of vehicles, real estate and other property, for damage caused to third parties. Additional classification based on grouping types of insurance into separate designated specific banking areas of activity.

It is advisable to present this classification in the form of a table (in Appendix No. 1), which will summarize specific types of banking activities and the corresponding types of insurance. The cells in this table indicate the types of insurance corresponding to the insurance industries and types of banking activities.

It should be noted that, in accordance with this classification, from the point of view of payment of insurance premiums, almost every area of banking activity can be considered from two sides:

When insurance premiums(payments, premiums) are paid by the commercial bank itself;

When insurance premiums are paid by a bank client - an individual or legal entity. This applies to all categories of banking clientele interacting with the bank in various areas of its activities, i.e. this applies to depositors, borrowers, pledgors, plastic card holders, buyers of securities, currency, holders of various types of bank accounts, lessees, etc.

In accordance with the above comments, a table is provided in Appendix No. 1 to this study.

After determining the entire set of insurance banking risks and the set of types of insurance in accordance with which these risks can be insured, it is advisable to move on in the next chapter to the consideration and analysis of foreign experience of the existing theory and practice of implementing this insurance, as well as the possibilities of its implementation in modern political and economic conditions of the Russian Federation.

Foreign experience in insuring banking risks

Developed foreign countries have accumulated a wealth of experience in insuring various property interests of banks. The history of such insurance goes back many decades. The first banking risk insurance agreement was concluded in 1911 in the USA. Over the period that has elapsed since then, an insurance protection system has been developed in the banking business, covering almost all objective channels of financial losses, that is, external risks of banks. The leading insurers in this area are members of the British insurance corporation Lloyd's.

The growing popularity of banking risk insurance in the world is due to a number of reasons. One of them is the expansion of the insurance field, i.e. growth in the number of banks, their assets and capital, increase in the volume of banking operations. Another reason forcing banks to resort to insurance is the increase in the frequency and range of risks causing losses, the growth in the volume of damage caused by various random events.

The elements of the banking risk insurance system used in developed foreign countries, first of all, can be divided into two groups. The first of them covers insurance objects and insurance risks that are common to almost any enterprise and organization. The second category includes such objects and insurance risks, the need for insurance protection, in relation to which it is explained precisely by the specificity of banking activities. This division has already been shown when classifying types of insurance for banking risks.

The specificity of banking risk insurance is a group of types, the need and procedure for which are determined by the special nature of banking activities. This group of insurance operations can also, in turn, be divided into several areas.

The first of these includes insurance operations that provide protection in relation to bank values and other property of banks.

To the second - operations that provide insurance protection associated with the use of computer equipment and software(hardware & software) in the banking sector (primarily computer fraud insurance).

Thirdly, insurance against risks associated with the use of plastic cards in the banking sector.

The fourth is insurance of active banking operations (issuing loans, purchasing bonds, etc.).

And finally, to the fifth - insurance of passive banking operations (bank deposits).

At the same time, it should be emphasized that leading insurers around the world categorically reject the possibility of accepting for insurance a number of professional banking risks, which are an integral part of banking activities and largely depend on the qualifications of banking personnel. Such risks not accepted for insurance include currency, financial, and a significant part of credit. As already mentioned, the result of the bank’s activities when such risks (speculative risks) are realized can bring the bank both profit and loss. Insurance covers only risks that can cause damage.

Let's consider the procedure for conducting insurance operations by leading foreign insurers.

The basis of banking risk insurance contracts concluded by most European insurers is the “General Obligations for Bank Insurance” developed in the 70s by Lloyd's Corporation, known as Bankers' Blanket Bond Insurance (B.B.B.). The following definitions are also found in the specialized literature - “Comprehensive Banking Insurance”, “Comprehensive Banking Risk Insurance”, “Comprehensive Banking Insurance”, “General Policy for Bankers”, “Lloyd’s Banking Policy”, “Lloyd’s General Banking Policy”, and often simply "V.V.V."

In the USA, banking risk insurance is carried out on the basis of the so-called “General Policy” developed by the American Guaranty Association for US banks. The terms of such a policy are, in fact, identical to the terms of the Bankers Blanket Bond. For many years, American banks have been required to insure themselves on a “B.V.V.” basis. Over the past almost three decades, comprehensive bank insurance policies have been adapted to suit local laws for use in many countries and are now widespread throughout the world. This process is currently ongoing in countries of Eastern Europe and CIS.

Bankers Blanket Bond insurance contracts are concluded for insured amounts ranging from US$5-10 million to US$250 million. insurance banking risk

One of the most important parts of banking risk insurance is insurance against illegal fraudulent actions of bank employees. It usually accounts for more than half of all insurance claims. This is due to the fact that even the most sophisticated methods internal control and audits do not always make it possible to completely protect a bank from the risk of theft of funds by its employees.

Objects of insurance for valuables located on the bank premises may be banknotes, securities and coupons from them, precious metals in bars and products, precious and semi-precious stones, coins made of such metals and alloys, checks, bills, bills of lading, insurance policies, letters of guarantee, deposit receipts, cash orders, revenue stamps, mortgages and others monetary documents, belonging both to the bank itself and to other persons and located in the bank’s vaults, storerooms and cash desks.

Insurance risks are:

A) theft, robbery, robbery and deception committed by persons while they were on the bank premises;

b) mysterious unexplained disappearance;

c) damage, destruction or malicious removal to another place committed by any persons with malicious intent.

Insurance against the occurrence of the following three groups of insurance events is becoming increasingly relevant due to the development of technical means of copying and their increasing availability, which, in turn, leads to an increase in the number of crimes related to forgery of documents, securities, and banknotes.

Thus, insurance against losses caused by the bank carrying out operations on the basis of forged documents compensates for losses incurred by the bank due to the fact that it issued loans and made transfers Money, any payments or carried out other operations on the basis.

a) forged (including with a forged signature) or substituted checks, cash orders, payment orders, promissory notes and other payment documents;

b) fictitious instructions received by the policyholder by telegraph, teletype, fax and other means of communication, allegedly sent on behalf of a client of a bank, broker, other bank or financial institution, but in fact not transmitted by them or transmitted, but with a different content.

Insurance against losses caused by loss, theft or counterfeiting of securities compensates for damage caused to banks in connection with their transactions based on forged (including forged signatures), forged, lost or stolen shares and certificates for them, bonds, securities coupons securities, mortgages and other securities.

Finally, insurance against losses incurred by the bank in connection with the acceptance of counterfeit currency is carried out in the event that bank tellers accept counterfeit, counterfeit or non-payment paper money or coins.

As a result of the widespread introduction of electronic technology into banking practice, banks' losses from crime in the area of using such technology have sharply increased. Suffice it to say that, according to estimates by the British Federation of Entrepreneurs, the amount of damage from fraud using computer systems averages $500,000 per case, and the total annual loss, for example, in the United States is estimated at $3-5 billion. Moreover, a significant part of such crimes are solved only by chance and after the criminals have fled. It should be noted that computer fraud, first of all, can be committed by employees of the insured bank itself.

US insurers have developed their own version of insurance against crimes related to the use of computer and other electronic equipment. Moreover, the American version of such insurance, in contrast to the insurance conditions developed by Lloyd's, actually consists of one paragraph, which states that the insurer covers the insurer's losses incurred as a result of unauthorized access of persons not working at the bank to its computer system or to a payment transfer system for the purpose of fraud.

Insurance against risks associated with the use of plastic cards as a means of payment is carried out due to the fact that, in accordance with the conditions for the use of plastic cards by clients of the issuing bank, in some cases, the risks of financial losses caused by the use of such cards are assigned to it. Therefore, they have an insurable interest when concluding insurance contracts against such risks.

The most well-known conditions for insuring risks associated with plastic cards are also the conditions developed by Lloyd's Corporation.

Now let's move on to the Japanese experience of insuring bank risks. The Japanese form of the “Comprehensive Banking Risk Insurance” policy was introduced relatively recently, since February 1983 and, in its main features, repeats the classic Bankers" Blanket Bond. Licenses for this insurance are issued by the Ministry of Finance of Japan. The Japanese credit and banking sector is the largest in the world in terms of capital, but the number of large and medium-sized banks does not exceed one hundred.

The Japanese banking risk insurance system was created on the basis of American and European experience, but it also has some of its own characteristics. First of all, the peculiarity of the Japanese policy form V.V.V. is that its insurance coverage includes the following three separate parts with different amounts of insurance coverage.

Part I. Property insurance:

Section 1. Cash insurance;

Section 2. Insurance against counterfeiting;

Section 3. Insurance interior decoration and equipment;

Part II. Professional liability insurance for bank employees;

Part III. Insurance against electronic and computer crimes.

According to the Japanese form of V.V.V. the following combinations are possible:

Part I, only;

A combination of Part I and Part III;

Part III, only.

The policyholder is required to insure all of its buildings, offices, branches and branches in Japan, and does not have the right to select or exclude individual offices and premises from the insurance policy.

The insurance period is usually one year, but at the request of the policyholder it can be either shorter or longer, but in any case a multiple of one month.

As far as the objects of insurance are concerned, they are almost identical to the classic form of V.V.V.

Throughout the world, in addition to V.V.V., insurance can extend to various types of activities of commercial banks. One of the main activities of banks is such active operations as issuing loans, purchasing shares, bonds, etc. When implementing specified activities banks bear the risks of non-repayment of the loan by the borrower, non-repayment of bonds or non-payment of interest on them, etc. It is clear that banks are interested in protection against such risks, including through insurance. Types of insurance that provide insurance protection against these risks are: insurance of mortgaged property, life and health insurance of borrowers, insurance of financial guarantees, credit insurance.

Current state and problems of banking risk insurance in Russia

When characterizing the current state of the banking risk insurance industry, one cannot fail to mention in general the pace of development of the entire bank insurance industry. In general, today in this insurance industry there is a tightening of banks’ requirements for insurance companies, but it is also important to note that banks are increasingly turning to insurers to protect themselves from their own risks. At the same time, insurance companies are doing everything possible to increase their portfolio.

In 2012, in the bancassurance market, insurers associated with banks grew by 70%, market ones - by only 13%. At the same time, the volume of the bancassurance market in 2012 amounted to 161 billion rubles, which is 28% higher than last year, and this growth was ensured primarily by one type - life and health insurance of borrowers consumer loans(77% increase). According to a study prepared by the Expert RA rating agency, the share of insurers associated with banks increased from 28% in 2011 to 37% in 2012, and in 2013, according to the Expert RA forecast, it will reach 50%. In 2013, the growth rate of bancassurance is forecast to be 20%. The basis of the bancassurance market of previous years - comprehensive insurance of cars purchased on credit - is moving into the dealer sales channel. The driver of the bancassurance market in 2013 will remain life and health insurance for borrowers in consumer lending, its growth will be 50%. However, from 2014, the growth rate of the insurance market for consumer lending will decrease - “it is impossible to grow forever by imposing simple products.”

Thus, we can say that bank lending has begun to gradually recover; accordingly, we should expect an increase in the receipt of insurance premiums for new business in retail bancassurance.

There were no significant changes in the structure of bancassurance in 2011. As in 2010, the largest share is occupied by retail insurance through the banking sales channel - 81%, insurance of legal entities through banks accounted for 13%, insurance of the risks of banks themselves - 6%.

The top five main types of bancassurance in 2011 included motor hull insurance (54% of premiums from the total volume of the bancassurance market), mortgage insurance (12%), life and health insurance of consumer loan borrowers (28%), insurance collateral property borrowers (13%), voluntary health insurance for bank employees (3%).

The first places in the ranking in terms of bancassurance volume in 2011 were taken by VSK JSC (10.8 billion rubles in bank insurance premiums), Generali PPF Group (9.2 billion rubles), Ingosstrakh Group (9.1 billion . rubles), LLC IC Soglasie (7.2 billion rubles) and OSAO RESO-Garantiya (6.9 billion rubles).

A smaller share of the bancassurance market, associated with insurance of risks of legal entities and insurance of risks of banks, will remain to universal insurers. With proper organization of risk management in banks, their own risks and complex large risks of legal entities should not be transferred to affiliated insurance companies, so that there is no accumulation of risks within the group. However, the rest of the bancassurance market is not as attractive as the retail market.

Despite the revival of lending, insurance of collateral property of legal entities is stagnating; it has not reached the pre-crisis level and continues to decline (-4% in 2011).

The reason for this is the increase in the share of unsecured lending, the replacement of collateral with other types of collateral, for example working capital, control financial activities and other. This was also reflected in the dynamics of premiums, which increased significantly for other types of insurance of risks of legal entities associated with banking services (+32% in 2011).

Insurance for small and medium-sized businesses when lending is increasing. However, SME companies do not always have property that could be provided as collateral, so in this category of borrowers the most common is insurance of goods in circulation (+86% for 2011). Most banks view insurance not as a tool to protect their own operational risks, but simply as a way to increase staff loyalty.

In insurance of the risks of banks themselves, the main share is consistently occupied by VHI of bank employees; the share of this type amounted to 56% of the total volume of insurance of banks’ own risks. As before, banks prefer to spend most of their funds on insurance for their employees rather than on other operational risks. Life and health insurance for bank employees is growing at a significant pace (133% in 2011); liability insurance for bank managers (D&O) has increased by 95%. BBB insurance is not widespread among banks; the volume of this market in 2011 remained at the same level.

In the post-crisis period, banks began to approach the selection of insurance companies more and more carefully, so not every insurer can become a partner of the bank. Last year, only those insurers that had high financial stability could be accredited by banks. The main requirements of banks are high reliability of the company and timely settlement of losses. Selection procedure for insurance companies different banks approximately the same, but the requirements of banks may differ in the number of requested documents. Insurers complain that sometimes this list can be very large, and the decision on accreditation can be too long. On the other hand, thanks to the actions of the FAS, the requirements of banks have become more transparent - banks began to publish a list necessary documents and requirements for insurance companies on their websites, and after a positive response from the bank, the company’s name appears in the list of recommended insurers.

One of the pressing problems today remains the issue of the financial stability of an insurance company, which often arises when an insurer fails to comply with solvency guarantees, systematically fails to fulfill its obligations to policyholders, and other violations. Thus, it is difficult for the policyholder himself to verify the financial stability of the insurance company, as well as the reliability of the information it provides. The company's conscientious fulfillment of its obligations to the client can be evidenced by the ratio of its assets and liabilities. In such cases, the insurance regulatory body has the right to suspend, limit the validity of the license and even revoke the insurer’s license.

To date, the function of control and supervision in the field of insurance activities has been transferred to the Bank of Russia since September 1, 2013 (in accordance with Federal law dated July 23, 2013 No. 251-FZ “On amendments to certain legislative acts of the Russian Federation in connection with the transfer to the Central Bank of the Russian Federation of powers to regulate, control and supervise the financial markets”).

Also important is the issue of reinsurance of the insurance company’s obligations in the event of insufficiency reserve funds to pay off your monetary obligations in front of clients. IN in this case It would be a good idea for potential clients to inquire whether the insurance company you wish to deal with has a reinsurance agreement with a larger insurance company, preferably a foreign one.

Guarantees of financial stability are an important factor when choosing an insurer, but the choice of an insurance company largely depends on the conditions and insurance rules offered by a particular insurer. Despite all the differences in the insurance rules offered by insurance companies, the basic conditions for insuring certain interests of the bank usually have a lot in common: as a rule, the lists of risks in the event of which an agreement is concluded, the procedure for determining the amount of loss, etc. are similar. Often, insurers enter into agreements to insure the interests of a bank on the terms of the general insurance rules developed by them. For example, an insurance contract for valuables in a bank vault is concluded on the terms of the property insurance rules, insurance of cash-in-transit transportation - on the terms of the cargo insurance rules, etc. However, insurance companies specializing in insuring banking interests usually offer the policyholder original insurance rules developed specifically for the bank or its clients. Such rules reflect all the features of insurance of banking interests, which, however, need to be paid special attention to.

Analyzing current practice Russian insurance Unfortunately, we have to admit that banks are not ready to conclude large combined insurance contracts: there are both financial reasons (such insurance is very expensive) and reluctance to allow the insurer access to banking information (and without this, concluding such an insurance contract is unthinkable). It is obvious that it is possible to radically change the situation for the better only with mutual trust and interest in each other among banks and insurers. Only under these conditions will comprehensive banking insurance become a reality, offering the most optimal model preventing existing modern world risks of banking business.

Prospects for the development of banking risk insurance

In modern economic conditions, institutions banking sector Insurance has become increasingly valued, and this applies not only to the insurance of collateral, but also to the risks of the banks themselves. Taking into account all the pros and cons of partnership with an insurance company, banks are expanding the insurance protection necessary to more fully cover their risks, and when borrowers refuse to purchase insurance, banks themselves began to insure the pledged property in cases of serious liquidity problems for borrowers.

Credit institutions are increasingly interested in insuring their own risks. A promising direction bancassurance in the near future there will be comprehensive insurance of bank risks (Bankers Blanket Bond - BBB). In 2011, according to Expert RA estimates, the insurance of operational risks of banks (OBR) accounted for 270 million rubles, which exceeded the volume of 2010 by 12.5%. For the bancassurance market this is an insignificant amount, but it is gradually increasing.

Typically in Russia, banks insure individual operational risks, rather than their entire complex. Comprehensive insurance of banking risks is widespread abroad, and sometimes even mandatory, and is only just beginning to develop in Russia. At the same time, this type of insurance allows you to “cover” a significant part of the risks that arise in the process of banking activities, and therefore is an important component of the comprehensive risk management system of any bank focused on long-term development and caring for its image and reputation. For the Russian banking market, these are pressing issues for the near future.

Another area of protection against bank losses is insurance of bank card issuers. In 2011, the insurance segment for bank card issuers amounted to an insignificant amount - 25 million rubles, which exceeded the 2010 value by only 1.3%. This type of insurance is still very poorly developed in Russia, but with the increase in fraud committed with bank cards, interest in insurance will grow. Despite the crisis, this type of insurance has not decreased, which indicates that banks are interested in reducing losses associated with fraud in this area. There are two possible schemes for cooperation between an insurance company and a bank: issuing a policy directly to the bank or insuring bank clients. Currently, banks prefer to insure the risks associated with plastic card fraud themselves, as they understand that clients are more willing to choose a bank that has such protection.

The cooperation scheme under a collective insurance agreement is by far the most convenient and technologically easy. But the actual choice of cooperation scheme usually depends on the bank’s assessment of legal and tax risks. Sometimes, for these reasons, the choice is made in favor of a less convenient agency agreement.

Now the banking market is reviving, lending is being restored, and accordingly, in 2011, retail bancassurance will grow again. Today, due to excess liquidity of banks and the post-crisis recession in the corporate sector, it is in the area retail lending and, accordingly, there is a noticeable recovery in retail loan insurance.

According to Expert RA, the most promising types of bancassurance in the next years, in addition to popular retail types, will be insurance of collateral, goods and property of legal entities through banks, as well as BBB, insurance of bank card issuers, and personnel liability insurance.

Conclusion

Banking, like any business, is associated with numerous risks. The term "banca insurance" has many different interpretations. In Russia, until recently, bancassurance was understood either as the creation by a bank of its own insurance company, or as a mechanism for “tax optimization.” Both of these options are Russian conditions have taken root quite well.

A bank that accumulates depositors' funds is naturally interested in the safety of these funds and in protecting them from various types of risks. Banking risks, as well as their management system, are a complex concept. A special place in the management of banking risks is given to insurance, which, as a tool for compensating for banking risks, fits very harmoniously into the mechanism of banking risk management, and in most cases is much more profitable, based on its fairly acceptable cost, than the classical tools of neutralization, minimization or evasion. banking risk management.

New technologies, the complexity of bank management, computer crimes, armed raids, the emergence of new types of activities and much more that gives rise to acquisition financial institutions insurance policies. Typically, those risks that the bank cannot influence are insured. Banking experts identify many banking risks. Currently, the interaction between banks and insurance companies is intensively expanding, which is understandable, taking into account the mutual benefit of such cooperation, because the main goal of doing business is to ensure joint sustainability while simultaneously achieving mutually beneficial operating results. This kind of interaction, in which part of the credit institution’s risks is transferred to the insurer, is beneficial to both participants in this relationship: banks in this case insure their risks and can focus directly on providing banking services, and insurance companies, in turn, receive new channels for selling insurance policies in various areas (auto insurance, collateral insurance, mortgage lending), ensuring the stability and reliability of the credit institution, which is an important factor influencing the positioning of banking products.

Banks that have decided to insure their risks determine together with the insurer insurance amount taking into account the insured risk. The amount of insurance rates is set depending on the object and period of insurance, the volume of the insurer's obligations, as well as the degree of risk. For example, the tariff for insuring collected and transported funds can range from 0.005 to 0.01% of the insured amount.

In recent years, this segment has shown significant growth rates and attracted the attention of numerous financial market participants and its researchers. The attitude of banks towards insurers is also noticeably changing, which is understandable, because in the future it will be those who establish relationships with insurance companies now who will take leading positions.

List of used literature

Civil Code RF (Civil Code of the Russian Federation) dated November 30, 1994 N 51-FZ - Part 1. ( current edition dated 09/01/2013) // SPS Consultant-plus.

Federal Law No. 177-FZ of December 23, 2003 “On insurance of deposits of individuals in banks of the Russian Federation” (as amended on May 7, 2013).

Federal Law No. 4015-1 of November 27, 1992 “On the organization of insurance business in the Russian Federation” (as amended on June 21, 2004 N 57-FZ)

Letter of the Bank of Russia dated June 23, 2004 N 70-T “On typical banking risks” // “Bulletin of the Bank of Russia”, N 38, 06/30/2004.

Letter of the Bank of Russia dated May 24, 2005 N 76-T “On the organization of operational risk management in credit institutions” // Bulletin of the Bank of Russia, N 28, 06/01/2005.

Letter of the Bank of Russia dated June 30, 2005 N 92-T “On organizing the management of legal risk and the risk of loss of business reputation in credit institutions and banking groups” // “Bulletin of the Bank of Russia”, N 34, 07/06/2005.

Alenichev D.V. Insurance of currency risks, bank and export commercial loans. - M.: Publishing House "East Service". - M.: 2004.-114 pp.;

Aminov D.I., Revin V.P. Crime in the credit and banking sector. - M.: Brandes, 2007.

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Afonchenko A.G. The essence and significance of risk as a civil category // Modern law. 2007. N 8. P. 58.

Banking risks: Textbook. allowance / Ed. O.I. Lavrushina, N.I. Valentseva. M.: KnoRus, 2007. P. 122.

Banking management / Ed. O.I. Lavrushin. M.: Knorus, 2011.

Banking supervision. European experience and Russian practice / Ed. M. Olsen. M., 2005.

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Gracheva E.Yu., Boltinova O.V. Legal basis insurance: tutorial. M.: Prospekt, 2011. 128 p.

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Annex 1

Correspondence of industries and types of insurance and areas of banking activities

Deposit (passive) operations Credit (active) operations Bank plastic cards (credit and deposit) Leasing operations 1234 Personal insurance, including voluntary medical insurance: Insurance at the expense of the bank: life insurance for depositors, as an additional service of the bank; accident insurance for depositors as an additional service of the bank; Insurance at the expense of the depositor's funds: 1. the bank can transfer all payments for the above types of insurance to the depositor, including them in the interest accrued by the bank on the deposit; Insurance at the expense of the bank's funds: no Insurance at the expense of the borrower's funds: life insurance of borrowers - individuals, (at credit insurance); borrower insurance - individual from loss of ability to work as a result of an accident; Insurance of bank plastic card holders at the expense of the bank: life insurance for bank plastic card holders; accident insurance for plastic card holders; voluntary medical insurance (medical expenses) for those traveling abroad - holders of bank plastic cards; voluntary medical insurance (medical expenses) for holders of bank plastic cards traveling across the territory of the Russian Federation; Insurance at the expense of holders (owners) of bank plastic cards: the bank can shift all payments for the above types of insurance to the owner, including them in the costs of servicing the card; Insurance at the expense of the bank: no Insurance at the expense of the client: no Property insurance: Property insurance Insurance at the expense of the bank: no Insurance at the expense of the depositor: no; for: Insurance at the expense of the bank: no Insurance at the expense of the borrower: insurance of the real estate collateral mortgage lending; insurance of various types of collateral when a borrower receives a loan; Insurance at the expense of the bank: insurance of processing equipment, ATMs, plastic cards and other property related to this market; Insurance at the expense of the cardholder's funds: noInsurance at the expense of the bank: no Insurance at the expense of the leasing company or lessee: insurance of property leased;Insurance of financial risks: Insurance at the expenseInsurance at the expense of the bank: no Insurance at the expense of the borrower's funds: insurance the risk of non-repayment (non-repayment) of the loan, including or not interest on it; Insurance at the expense of the bank: insurance of financial losses (losses) on plastic cards (as a result of loss, forgery, theft, unauthorized access, etc.); Insurance at the expense of the cardholder's funds: the bank can shift all payments for the above types of insurance to the owner, including them in the costs of servicing the card; Insurance at the expense of the bank: no Insurance at the expense of the leasing company or lessee: insurance of financial risks in favor of the bank - creditor (the insurance policy is security for the repayment of the loan under which equipment is purchased on lease); bank funds: insurance of deposits by the bank itself or within Federal program deposit insurance; Insurance at the expense of the depositor: insurance of bank deposits; Liability insurance: Insurance at the expense of the bank: no Insurance at the expense of the depositor: no Insurance at the expense of the bank: 1. liability insurance of bank employees in case of disclosure of the contents of bank documents; 2. liability insurance of directors and employees of the bank to the Board of Directors or to shareholders; professional liability insurance for various categories of bank employees; civil liability insurance of banks as owners of various types of property for damage caused to third parties; Insurance at the expense of the borrower's funds: insurance of the borrowers' liability for non-repayment of the loan (the principal amount of the loan, including or not interest on it).Insurance at the expense of the bank's funds: no Insurance at the expense of holders (owners) of bank plastic cards: noInsurance at the expense of the bank's funds: no Insurance at the expense of the leasing company or lessee: no

Economic category of insurance protection and its use in the banking sector

Foreign experience in insuring banking risks

Problems of insurance protection of bank deposits

Introduction of the dissertation (part of the abstract) on the topic “Insurance of bank risks”

Conclusion of the dissertation on the topic “Finance, money circulation and credit”, Kanamatov, Kemal Madzhirovich

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