Classification of Insurance(primary brief)

Table of Contents

I. INTRODUCTION. 4

 1.    Classification is principally related to Supervision. 5

 2.    Different Requirements per Class of Insurance. 5

 3.    Criteria for Adoption of Insurance Classes. 6

II. The Separation of Life and Non-life. 7

III. Classification in Europe. 9

 1.    Non-life. 9

 2.    Life. 10

IV.      The Impact on the Insurance Contract 11

V. Non-life Classification in Particular 12

 1.    Accident 12

 2.    Sickness. 12

 3.    Land vehicles. 14

 4.    Railway rolling stock. 15

 5.    Aircraft 15

 6.    Ships. 15

 7.    Goods in transit 15

 8 & 9.  Fire and natural forces. 16

 10.      Motor vehicle liability. 16

 11.      Aircraft liability. 16

 12.      Liability for ships (sea, lake and river and canal vessels) 17

 13.      General liability. 17

 14 & 15.  Credit - Insolvency (general) 17

 16.      Miscellaneous financial loss - employment risks. 18

 17.      Legal expenses. 18

 18.      Assistance. 18

VI. Life Classification in Particular 20

VII.     Classification in the Russian Federation; Recommendations for Change. 22

VIII.       Systems of Classification and State Supervision. 26

XI. Observations. 28