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Insurance of environmental risks

"Ecological insurance" most often means insurance of civil responsibility of owners of potentially dangerous objects due to the need of compensation of the damage to the third parties caused by technology accident or accident. His broad treatment includes the comprehensive common responsibility providing protection of the insurer in case of any suit brought against him demanding compensation of losses as a result of property damage. The obligation (private-law character) of insurer provided by the law on criminal liability to indemnify the loss caused to legal entities and physical persons as a result of impact of hazardous substances on the earth, air, water is insured (and reservoirs). The property losses following from violation of the property rights, the right to the equipment and productive activity and rights to use by water space or certificates on use of them are insured.

The insurance of property responsibility connected with damage from pollution arose in the 1960th years when policies were aimed at providing a covering of the emergency and unforeseen situations defined as "the case including the long or repeating impacts on conditions which attract personal or property damage and are unexpected and inadvertent from the insurer". These policies were actually the license for pollution.

Insurance ecological audition has to become the main thing in methodology of assessment of ecological danger of the enterprises and productions. It is designed to answer only two, but very much an important issue:
1) what probability of ecological accident on the concrete object included in the system of ecological insurance,
2) what size of losses which can be caused by ecological accident.

Danger of industrial production:
1) it is identified according to the list of the harmful chemicals used in this production in critical quantities;
2) is determined by multiple excess of limit rates of impact on the environment;
3) comes to light proceeding from rated sizes of risk of pollution and the hypothetical damage caused to them.

The methodology of ecological insurance is characterized by dissimilarity of views of foreign and domestic researchers for its role in economic life of society. At the first it is associated and performed (seldom) within property insurance. If it is carried out in the course of liability insurance, then damage caused to the owner of property or its health as a result of pollution and not necessarily emergency, is compensated by insurance company. It does it or on the basis of the insurance contract signed earlier providing regular insurance premiums or at the expense of responsible established judicially. In both cases the size of a loss is defined by traditional valuation methods of inventory losses and uncollected profit. A special role in it is played by standard legal documents.

In ecological insurance the losses caused by receipt to the environment from one source of a certain quantity (in emergency volume) a hazardous substance and education at specific recipients of negative effects are considered as losses. In liability insurance for emergency pollution there is a personification of the one who does harm, and the recipient. In property insurance the deposit of separate pollutant is not allocated for a case of pollution of the environment. From this it follows that the financial covering of insurance sums is provided not only from different sources, but also the got insurance premium is used by the insurer in the different target directions.

The ecological insurance performed as liability insurance for emergency environmental pollution is aimed at providing ecological safety and compensation of losses of the third parties (certainly, on condition of observance of commercial interests of insurers) and as property insurance - is directed only to compensation of losses of the insurer.

Determination of ecological insurance as enterprise liability insurances - sources of the increased ecological danger and valuable interests of the insurers resulting from emergency environmental pollution, providing a possibility of compensation of a part of the losses caused by pollution and creating additional financing sources of nature protection actions, is guided by that methodological basis about which I there were a speech here. Its main task - collateral financial provision of ecological safety at observance of interests of all parties: insurers, insurers and the third parties.

If for transactions of property insurance there is rather rich range of standard and methodical documentation, then for emergency pollution of the environment it still should be developed for liability insurance

Theoretically the size of an insurance sum consists of costs for prevention of emergency pollution and assessment of influence of the polluted environment for the recipient. For the insurer the first introduces additional, unjustified in case of absence during validity of ecological insurance expenses. For society and the third parties in whose advantage the insurance contract of responsibility for emergency pollution of the environment is signed, such costs - a part of potential losses. Realizing it and evaluating a possible insurance indemnity, the insurer or itself allocates funds for a preventization of accidents, or forces (economically stimulates) the insurer on nature protection actions. It is possible either to perform them, or to consider in calculation of an insurance sum.

The second component of an insurance sum are losses, as a result of impact of the hazardous substances which came to the environment on recipients. Unlike the first type of losses, they are shown also at the third parties. In either case ecological insurance supports as liability insurance emergency pollution of the environment as sources of the increased ecological danger.

Losses from emergency pollution are sustained not only by recipients - the third parties for the benefit of whom liability insurance, but also insurers - pollution sources, too being recipients is led. Insurers can be that and others.

In this regard above it was also told about differentiation of compensation policy of the insurers. So, compensating losses of a source of emergency pollution within property insurance, the insurer does not create interest at the insurer in prevention of pollution. Paying damages of recipients - the third parties, it exempts the insurer - the issuer of pollution - from need of mitigation of consequences and a preventization of future accident.

Insurance process in itself rewards those who minimize future risks and expenses of society. As a result the mechanism of private market becomes the instrument of regulation and risk management with a possibility of considerable decrease in environmental damage. Application of such direct economic incentive can be effective addition to traditional methods of economical legal regulation of relationship of society and the nature. So, we will allocate 4 blocks of fundamental problems of development of ecological insurance.

The first, defining essence, the place and a role of ecological insurance in economy, gives it as to an element of providing ecological safety of the country, nation-wide value. This factor is a basis of the concept of introduction of compulsory ecological insurance.

The second block is basic provisions of the insurance ecological audition allowing to solve problems of an atributirovaniye of objects of the insurance field (to evaluate degree of ecological danger of the enterprises and productions, size of possible losses, etc.).

The third forms legal space of ecological insurance.

The fourth block is made by the relevant methodical and instructive documents.