One of the oldest aspects of industrial-social relations is insurance. Its origins should be sought back in the days of the slave system. Then the property and slaves were insured against their possible destruction by various forces of nature or from other circumstances. So gradually an association of people interested in this process took place. There was an insurance business.
This is one of the main institutions of the economy. The most widespread insurance business was in the conditions of market relations.
The essence of this process is to satisfy a person’s security needs. In market conditions, insurance acquired a slightly different formation. This is a way to pool funds in order to make their use more efficient.
Insurance business plays a huge role in the country's economy. First of all, this increases the country's potential for investment in its development. Reliability and security guarantees attract additional capital.
Insurance is a prerequisite for the growth of the welfare of the nation. It makes it possible to stabilize the system of social and pension benefits.
The insurance industry is subject to its laws and has specific development features.
It is divided into property, liability and personal insurance. Separately, we can distinguish the area of this process associated with medicine. The insurance category includes objects that have the following characteristics:
1. The presence of insurance risk.
2. Association of insurers and insurers.
3. The payback of this process.
4. Unallocated relationships.
5. Chargeback.
The insurance object is all the risks in the event of which the insurer is obliged to compensate for the damage caused. As an object, various categories can act.
Personal insurance includes the interests of citizens that relate to age criteria, certain events in life, the scope of medical services, diseases and other events. In personal insurance, this is the life and health of citizens, as well as their ability to work.
In property insurance, objects are any values that have a material form that fall under the criteria of this process. This may be the possession of certain property, as well as its use and disposal. This includes liability insurance, which consists in paying compensation to others for the damage caused. Entrepreneurship also belongs to this category of entities.
Another point, which includes the insurance business, involves a package of documents necessary for the occurrence of a case for compensation for damage.
The subjects of insurance are agents, organizations, societies, brokers and other participants in this process.
All activities of entities must be licensed or certified. There is a special state register that contains the entire list of participants in this process.
Insurance is a necessary part of the public life of any country with a developed economy. It is the key to stability, which contributes to the development of investment activity. The owners of property and cash must be sure that in the event of an insured event they will be compensated for the damage caused.
In Russia, insurance has come a long way. But the process of its formation is not completed to date. In 1996, they developed a resolution that stipulated measures to develop the insurance market in Russia. In 1997, a program was adopted to develop insurance for risks arising from global disasters, natural disasters, and other similar cases.