ВКР Омельченко Д.С. (1234028), страница 13
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– reinsurance raises guarantees of solvency of the insurer.
6 Essence of actuarial calculations in insurance and their classification.
Tariff policy.
Actuarial calculations - process during which the expenses necessary for insurance are defined. By means of actuarial calculations the cost of insurance service is defined. As in any economic activity, in insurance the insurer needs determination of the size of the expenses necessary on insurance of this or that object. The form in which expenses on insurance of this object are represented, is called as insurance (actuarial) accounting.
In Ancient Rome officially appointed person who wrote down decisions of the Senate was called as the actuary (actnarins) and daily kept records of debate. For the first time the term "actuary" in relation to business is used in 1762 when in London Society of fair life insurance and a survival was created. In 1775 the mathematician William Morgan who limited the sphere of the activity to calculation of rates of insurance premiums and ensuring reliability of financial operations was appointed to this post. Since then the name "actuary" began to be
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applied to those who performed this financial and mathematical work. The term "actuary" was for the first time used in the legislation of Great Britain in 1819. In modern understanding "actuary" is a person who possesses a certain qualification for an assessment of risks and probabilities in the field of finance and the business activity connected with casual events.
The features of insurance business influencing carrying out actuarial calculations:
- probabilistic character of the studied events;
- calculation of cost of insurance service is made concerning all insurance set;
- need of special reserves of the insurer.
Methodical basis of actuarial calculations is observance of the principle of equivalence, i.e. establishment of balance between payments and insurance payments of the company.
Main objectives of actuarial calculations:
- research and group of risks;
- calculation of mathematical probability of a loss occurrence, determination of frequency and degree of its consequences, as in risk groups, and in general on insurance set;
- mathematical justification of the necessary sizes of expenses on conducting business;
- mathematical justification of necessary insurance funds, definition of methods of their formation.
- as a problem of actuarial calculations it is also possible to consider research of norm of capital investments (interest rate) when using by the insurer of insurance reserves as investment resources.
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6.1 Insurance tariffs. Structure of an insurance tariff
Insurance service, as well as any other goods, has the cost or the price. The price of insurance service is expressed in an insurance tariff (a contribution, an award).
The insurance tariff is set of tariff rates. In turn the tariff rate is the price of insurance risk and other expenses of the insurer on the organization of insurance; adequate monetary value of obligations of the insurer under the signed contracts of insurance. A tariff rate at which the contract of insurance is signed, call a gross premium.
Main objective of calculation of insurance tariffs – definition and a covering of the probable amount of damage falling on each insurer or on unit of the insured sum therefore such signs of insurance as the closed apportion of damage and recoverability of the insurance payments intended for payments are the cornerstone of calculation of an insurance tariff.
The tariff rate (gross premium) as the price of insurance service has a certain structure. Separate elements of structure of a tariff rate have to provide financing of all functions which are carried out by insurance company. Basic elements of a tariff rate are: net - an award (net - a rate) and the loading including expenses on conducting business; the assignments provided by the legislation and an extra charge on profit.
The main part of a tariff rate – net - a rate which expresses directly the price of insurance risk, provides a damage covering. It is quite clear that at the time of accounting of the price the size of future damage is unknown therefore the size of damage is defined on the basis of data on damage for the last period. Therefore when determining net – rates on mass risk types of insurance it is necessary to consider such factors as probability of a loss occurrence, frequency and weight of manifestation of risk, the size of the insured sum of the contract. The expected damage size called pure net - an award acts as minimum price for risk.
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For a guarantee of insurance protection net - rates (pure net - awards) joins in structure risky or the delta extra charge intended for financing of casual deviations of real damage from the expected size.
On loading in structure of a tariff rate the part of an award approximately from 5% to 30% depending on a type of insurance falls.
For different types of insurance the structure of loading can differ a little from called above. So, on life insurance the structure of loading joins only expenses on conducting business and profit.
We will consider the main components of loading
The main part of loading is occupied by expenses on conducting business. Expenses on conducting business can be divided for the analysis as follows:
- the organizational – the expenses connected with establishment of the insurance company;
- the acquisition – the expenses connected with involvement of new insurers and with the conclusion of new contracts of insurance the Main part of acquisition expenses occupy commissions to insurance agents and brokers;
- the collection – the expenses connected with settlement and cash service. Besides, costs of production of forms, receipts, registration registers, etc. belong to these expenses;
- the liquidating – the expenses connected with settlement of losses, a legal cost, travel expenses to a place of insured event, fee of experts, etc.;
- administrative which share property on the general expenses and management expenses. In particular, management expenses include expenses on compensation and assignments on social insurance; household and office expenses; transport; communication; rent; expense accounts; depreciation, etc.
The assignments provided by the legislation. As a rule, these expenses are connected with implementation of the precautionary actions directed on decrease in risk of approach of an insurance event and/or reduction of lameness at its approach. The limit of such assignments in structure of a tariff – no more than 15%
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is legislatively set. Means of precautionary actions in a size provided by structure of a tariff rate go for formation of a reserve of precautionary actions.
The directions of use of a reserve of precautionary actions can be the following: acquisition and operation of means of the fire-prevention, security alarm system; financing of development and/or acquisition of means of protection from diseases (for example, vaccination); financing of construction of water protective constructions, means, protection against accident rate of technical systems, etc. Krom of a reserve of precautionary actions, as the specified element of loading can be other assignments provided by the legislation, for example, contributions to reserves of compensation payments for the CMTPL (2% of a gross premium in a reserve of the current compensation payments and 1% of a gross premium in a reserve of guarantees).
The last component of loading – an extra charge on profit (target profit), i.e. profit on insurance activity which the insurer expects to receive. Existence of this element in structure of a gross premium emphasizes enterprise nature of insurance activity.
The making loadings can pay off both for 100 rub of the insured sum, and in percent to a gross premium.
6.2 Calculation tariff net - rates on risk types of insurance
Mass types of insurance cover a significant amount of objects of insurance and the insured persons who are characterized by uniformity of risks for which there is a sufficient volume of statistical material allowing to calculate a tariff. Casual distribution of size of a loss in mass types of insurance can with a sufficient accuracy be described by normal or logarithmic normal distribution. Except mass risks risks of technogenic and anthropogenous catastrophes are put at insurance. In these cases calculation of an insurance tariff will differ from a technique, characteristic for mass types in a procedure of payments of a risk extra charge
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which owing to insufficiency of statistics will be estimated qualitatively (ekspertno). Thus it is necessary to consider a condition of concrete dangerous object, and also scenarios of possible accidents. It is necessary to distinguish especially rare dangerous events on which there is no statistics from risks of accidents. For example, falling of a meteorite, etc. In view of the fact that the probability of such events and their consequence are quantitatively not defined, they aren't considered at insurance, i.e. such risks aren't insurance.
The second part net - rates is risky or a delta extra charge. Information based on statistical data on the frequency of approach of an insurance event is the basis for calculation of the main part net - rates. At the same time, in various the period these indicators can deviate, and sometimes quite considerably. To avoid the situation connected with insufficiency of insurance fund for payments and apply a risk extra charge.
7 Licensing of insurance activity
The license granting the right to be engaged in insurance activity in the territory of the Russian Federation can be issued only to the legal entity as natural persons have no right to be engaged in insurance activity.
The insurance activity which is subject to licensing the activity of insurance companies and societies of a mutual insurance (insurers) connected with formation of special monetary funds (insurance reserves) necessary for the forthcoming insurance payments is considered.
Licenses are granted on implementation of voluntary and obligatory personal insurance, property insurance and insurance of responsibility. If object of activity of the insurer is only reinsurance, the license is granted on reinsurance implementation. Thus concrete types of insurance which the insurer has the right to carry out are specified in licenses. The activity connected with an assessment of
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insurance risks, determination of the extent of damage, the amount of insurance payments, other consulting and research activity in the field of insurance doesn't demand obtaining the license.
Licensing of insurance activity is carried out by federal executive authority on supervision of insurance activity which grants to insurers licenses for implementation of insurance activity, keeps the unified State register of insurers and associations of insurers, and also the register of insurance brokers, develops the normative and methodical documents concerning insurance activity carried by the Law on insurance to its competence.
Restriction of action of the license means a ban before elimination of the violations established in activity of the insurer to sign new contracts of insurance and to prolong acting by separate types of insurance activity (or to types of insurance) or in a certain territory.
8 Licensing of activity of insurance companies
The license for carrying out insurance activity is the document certifying the right of her owner for carrying out insurance activity in the territory of the Russian Federation at observance by it of the conditions and requirements stipulated at issue of such license. The license for implementation of insurance, reinsurance, a mutual insurance, insurance broker activity gives out to subjects of insurance business Department of the insurance market of the Central bank of Russia.
The order of licensing of activity of insurance companies is defined by hl. 32 "Licensing of activity of subjects of insurance business" of the Act of the Russian Federation "About the organization of insurance matter in the Russian Federation", the Resolution of the Government of the Russian Federation "About the approval of rules of licensing of activity of the medical insurance companies
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which are carrying out compulsory health insurance" of 29.03.94 No. 251 (with amendment and additional of 19.06.98, 03.10.2002, 14.10.2005).
Licenses are granted on implementation of voluntary and obligatory personal insurance, property insurance, insurance of responsibility and reinsurance if object of activity of the insurer is only reinsurance by types of insurance activity. Thus concrete types of insurance which the insurer has the right to carry out are specified in licenses.
The license will be granted in the established form and contains the following requisites:
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the name of the legal person insurer owning the license, his legal address;
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the name of branch, a form of carrying out and a type (types) of insurance activity, with the instruction in the appendix of a look (types) of insurance to which carrying out the insurer has the right;
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the territory in which the insurer and his branches intend to carry out insurance operations;
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signature of the head (or deputy head) and official stamp of federal body for supervision of insurance activity;
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registration number according to the state register of insurers;
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number of the license and date of its delivery.
9 Features of development of insurance in modern Russia
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