Logistics. Arranging cargo insurance (most important)

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Logistics. Arranging cargo insurance (most important)

Lecture notes, cheat sheets

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43. ORGANIZATION OF CARGO INSURANCE

Insurance - a mechanism by which the insured (the person insuring the risk) diverts from himself the financial consequences of the risk by transferring them to the insurance company (insurer), paying an insurance premium for this.

Types of transport insurance:

1) cargo insurance in case of its physical loss or damage;

2) liability insurance of the carrier (forwarder). The object of insurance is the property interests of the person on whose insurance the insurance contract is concluded. Property interests are associated with the possession, use and disposal of cargo.

Insurance contract is a written agreement between the policyholder and the insurer. According to the contract, the insurer undertakes an obligation upon the occurrence of an insured event to pay the sum insured or compensate for the loss caused within the limits of the sum insured to the insured or another person determined by the insured in whose favor the insurance contract is concluded. The policyholder undertakes to pay insurance premiums (insurance premium) and comply with the terms of the contract.

Subjects of insurance:

1) policyholder - an individual or legal entity (property owner or person responsible for property) who insures his interest in property against certain risks (hazards) and is interested in its safety;

2) insurer - an insurance company that provides insurance on the basis of a license obtained in the prescribed manner.

Other concepts of insurance:

1) insurance premium - payment for insurance, which the insured is obliged to pay to the insurer in the manner and within the time limits stipulated by the insurance contract;

2) insurance value - the actual value of the insured interest. For property, its actual value at its location on the day of concluding the insurance contract;

3) insurance policy - a document issued by the insurer or on behalf of the insurer and indicating the acceptance of risk by the insurer. The insurance policy contains data characterizing the object of insurance, the conditions of liability of the insurer and the sum insured;

4) deductible - the share of the loss that is not payable by the insurer. The deductible is calculated from the sum insured of the entire cargo or its separate part;

5) force majeure circumstances - various types of natural disasters (earthquakes, floods), fires, decisions of state and government bodies, hostilities, civil unrest, strikes, banditry and piracy, the occurrence of which cannot be predicted in advance.

Benefits of insurance:

1) creation of a stable business climate;

2) transfer to the insurer of such risks as loss and damage to products, i.e. risks that the insured cannot control when transporting products. Due to this, the insured can concentrate his efforts on the main activity to obtain maximum results;

3) the release from the insured of funds created and contained in the liquid target insurance reserve to finance measures to prevent and eliminate the consequences of various emergencies. They can be directed to invest in the production capacity of your business.

Author: Shepeleva A.Yu.

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