Romanova I.N. Business Insurance as a Reducer of Losses

DOI: https://doi.org/10.15688/lc.jvolsu.2019.2.13

Irina N. Romanova, Candidate of Sciences (Jurisprudence), Associate Professor, Head of the Department of Civil Law and Procedure, Moscow University named after S.Yu. Witte (Ryazan branch), Prosp. Pervomaysky, 62, 390013 Ryazan, Russian Federation, This email address is being protected from spambots. You need JavaScript enabled to view it. This email address is being protected from spambots. You need JavaScript enabled to view it. , https://orcid.org/0000-0002-6222-630X

Introduction: conducting a business, a priori associated with certain property risks, determines the objective interest of economic entities in preventing negative consequences of its conducting, and in the case of such consequences – in minimizing them. An effective means of solving this existential problem is insurance, which acts as the most important factor in reducing losses of business entities, providing the incentives for technological modernization, the introduction of new forms and methods of production and management. Methods: the methodological framework for this study is a set of methods of scientific knowledge, among which the main ones are the methods of consistency, functionality, analysis, and the formal legal method. Results: as part of the study, based on the analysis of the insurance rules developed by the insurers, the experience of the Russian companies in the organization of risk insurance was studied, as well as the experience of the law enforcement practice in this area. On the one hand, all this allowed us to identify the existing standard models of property risks insurance in business; on the other hand, to form an idea of the development problems of this segment of the insurance market in Russia. Conclusions: as a result of the study, the author determines the alternative of business risks insurance to other legal, contractual, means of protecting the property interests of economic entities. It is established that the object of insurance in the financial risks insurance are the property interests of the insured or the person whose financial risk is insured.

Key words: insurance contract, property interest, business activity, insurance protection, insurance premium, insured risk, insurance indemnity, financial risk.

Citation. Romanova I.N. Business Insurance as a Reducer of Losses. Legal Concept, 2019, vol. 18, no. 2, pp. 84-89. (in Russian). DOI: https://doi.org/10.15688/lc.jvolsu.2019.2.13

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