Insurance of risks in construction and banking

Calculate and foresee risks have been tried at all times, and more than one volume of mathematical calculations is devoted to this topic. But practice shows that Unpleasant events occur always unexpectedly.

Construction risks insurance

This type of activity during construction works is an effective protection against possible losses. Whatever the advanced technologies in this industry, the technical equipment of the site has been improved, it is impossible to exclude the possibility of causing damage when constructing facilities.

The insured . In this case, one contract is drawn up for the entire amount of construction work, in which all participants in the facility are considered insured. The insurer is most often the general contractor, since he is fully responsible to the customer of the project.

Objects of insurance . This contract presupposes the insurance of risks of property that is available on the site, designed for certain works, namely:

- all kinds of construction products;

- mechanical means and mechanisms;

- Temporary buildings on the construction site;

- buildings, structures that require reconstruction and major repairs.

Fundamentally new directions are insurance from:

- possible interruptions in the work process;

- failure to comply with the terms of the signed construction contract.

Coating. Insurance of risks under such a program works on the principle of "all risks", which means providing protection not only in classical cases, but also in other unusual situations.

Sum insured . According to the mutual agreement, a fixed rate is established, which includes cash payments for the construction object and liability for damage to third parties.

Insurance of bank risks

The specifics of the work of banking activity implies protection from possible losses that arise due to the instability of situations both in the domestic market and in the world market. Risk insurance implies, in this case, not only the probability of non-receipt of profits from transactions, but also the possibility of losing all capital. The following types are recognized:

• Financial: credit, interest, liquid, investment, foreign exchange. And also the risk of insolvency.
• Functional: Strategic, technological, operational. In addition, there is a risk in the introduction of new products and various banking technologies.
• External: the probability of inconsistency and loss of reputation.

Insurance of risks in the sphere of banking concerns not only the credit institution, since in the process of performing various operations it risks not only its finances but, above all, the money of depositors. However, the bank's capital can not be insured in full, so a special reserve fund is created. Such a procedure is carried out only for deposits that are especially important for the establishment of funds.

Many countries have introduced into practice the work of the bank mandatory acquisition of the main policy, which increases the reputation of the institution and helps attract new customers.