A market economy suggests that companies provide financial stability on their own. The company should be prepared for unexpected technological accidents, natural disasters, default on partners. All firms need protection of their property, interests and social protection of personnel. Provides this corporate insurance, which will be discussed in the article.
What does it include?
Corporate insurance is a complex of services that an insurance company provides. The following fall under protection:
- Financial risks.
- Employees.
- Transport.
- Production facilities.
- Misc.
Corporate clients receive various benefits and service exemptions, because they use a package of services, and not one type of insurance. Insurers offer profitable programs, since such cooperation is beneficial for them. Such services will be beneficial for large and small companies.
Benefits
Corporate insurance has the following advantages:
- Customers receive discounts on services. Recently, companies have reduced tariffs for the protection of real estate, transport, equipment, as well as insurance of risks, cargo, liability.
- Favorable offers are valid for corporate clients.
- Provided to large and small enterprises.
- It will turn out to prevent various troubles, since brokerage services are developed in this area. In the global market, up to 90% of this type of business is supported by brokers.
- Specialists will help you choose the program that is most suitable for a particular company.
Principles
Corporate insurance is based on the following principles:
- Complexity, which means the work of accounting for all risks.
- A combination involving the assumption of various risks.
- Long-term - the duration of the enterprise and the insurer, which is necessary to optimize financial flows, organize events to reduce the risks of the organization.
In Russia, this area affects only certain risks that may arise at the enterprise. Over time, the corporate insurance system will develop to ensure the security of the client's financial flows.
Prospects
The stability of many companies is associated with insurance coverage, which allows you to compensate for damage in various activities. The modern corporate insurance market in Russia is considered a positive factor in influencing the economy because of its continuity and financial stability. This sphere develops, increases the investment potential of the country.
There are prospects for corporate insurance to improve. In most subjects, this area is actively developing. But many companies use traditional insurance products, so reforming this area is important.
Kinds
Corporate types of insurance are as follows:
- Auto insurance. The presence of even a small fleet has the risk of accidents, theft. An effective way of protection will compensate for various costs. This will allow you to correctly plan the costs of maintaining the fleet.
- Property. There are many different facilities in enterprises that require safety, as well as safe maintenance and operation. Due to damage or loss of property, the economic situation of the company may worsen.
- Health.Corporate insurance of employees is considered an effective means of motivating them, as well as attracting and retaining qualified specialists.
- Construction and other technical risks. The creation and use of technical products can lead to negative consequences. Thanks to insurance, it will be possible to cover the damage.
- Endowment life insurance. With the payment of contributions, a deferred bonus is created, which the insurance company pays to the employee if he worked for a certain period. The program provides financial protection in the event of disability.
- From accidents. This type of service is necessary to protect the employee from unforeseen situations.
- Pension. It is a motivation for the staff, improves the competitiveness of the company in the market. The employee has a guarantee of obtaining a decent income upon retirement.
The insurance market in Russia allows you to use the above services. They allow you to motivate employees, since protection is supposed to be in the form of compensation for damage. It also helps minimize risks.
Tariffs and premium
The size of the premium depends on the sum insured, characteristics of the insurance object, liability limit, and tariffs. Thanks to the right choice of tariffs, material stability of the procedure is ensured - a balance of premiums, compensations, expenses.
The premium is paid in single payments or shares. Dates and sizes are established by the contract. With risky types of insurance, it is supposed to pay premium simultaneously or in 2 payments. When corporate insurance events occur, compensation is paid. Cumulative types of services involve the payment of premiums in several installments.
Rates for compulsory insurance are developed by the state, and for voluntary insurance by firms, taking into account the contributions accumulated in the fund and the size of payments. The insurance market operates on the basis of applicable laws.
Choosing an Insurer
It is important to choose a suitable company, which will offer you to arrange profitable services. Should be considered:
- The company has a regional network, its availability, since an insured event can occur anytime, anywhere.
- List of documentation required to conclude a contract.
When analyzing financial stability, you need to study:
- The size of the authorized capital, the structure of funds.
- The amount of losses for several periods.
- Reinsurance Policy.
A positive nuance is a high rate of capitalization in relation to the minimum requirements. Information related to reinsurance coverage is an indicator of the financial stability of a firm. Assessment of financial indicators can be found using the services of appraisers or dating ratings. The insurer must have a state license to provide services. Now they are registered by many companies, but such large companies as Sogaz and Ingosstrakh are considered the most popular.
Ingosstrakh
The company was founded in 1947, and since then it has been actively developing. Ingosstrakh provides many services in various fields. Each has licenses prescribed by law. The company is known for premium fees (from 60 billion rubles per year) and large payments for obligations.
Ingosstrakh has an impeccable reputation, which is why the company is considered an official insurer in the field of construction and maintenance of public facilities. Representative offices are located throughout the country.
The company offers 5 packages of corporate insurance programs for employees, including executive liability insurance. The VHI package provides various types of medical services, including dental. Upon request, additional services may be added to the policy. There is a pension program under which pension accruals are expected.
Savings programs include long-term risk insurance. This is not entirely familiar to Russian customers, since this area is associated with an irretrievable loss of money after a specific period. Ingosstrakh provides financial protection with payment of accruals at the end of the contract. This is a great motivator for employees.
Sogaz
Small and large companies can contact Sogaz, which also offers profitable services. In terms of insurance premiums it takes 2nd place, the company has branches in Germany and Serbia. The services are used by more than 77 thousand enterprises in Russia, including monopolists and backbone complexes.
Offers services in the field of nuclear energy, the creation of gas and oil fields, aviation and space industry, railway and shipping. Sogaz offers liability insurance for carriers, producers, officials. Other industries are insured by subsidiaries of the group, for example, Sogaz-agro provides services to agricultural firms.
Corporate packages, in addition to general programs, include insurance for those traveling outside the permanent residence. This type of service is ideal for business travelers, since standard MHI policies are valid only at the place of their registration.
Accumulative and VHI are offered by the Sogaz-Life subsidiary. In property insurance, the company is in first place in the Russian Federation, which is associated with guaranteed coverage of construction and installation risks, protection of property of enterprises.
Personnel insurance features
An important goal of corporate insurance is to protect the health of employees, as well as to prevent the consequences of accidents. In Russia, DMS is becoming more popular every day, especially the service is relevant among pregnant women and newborns.
Employees of the insured company can get a whole family policy at discounts. The area of pension insurance is in demand. The benefit is this: the company receives tax subsidies, and employees share contributions with the company. Modern insurance allows you to combine risk and savings programs. This type of service is only developing in Russia.
VHI
In many enterprises, managers offer to issue their employees VHI policies. In addition to basic services, additional assistance is provided in the medical field. The policy can guarantee:
- Getting outpatient services.
- Diagnostics
- Inpatient treatment.
- Dental services.
Often, funding is offered for the medical services of relatives of employees. Corporate insurance serves to protect workers. Also, this area allows you to stabilize business processes, increase staff loyalty, aiming at long-term cooperation.