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March 2022 (published: 14.03.2022)
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Home > Issue > Limitations as a characteristic of insurance products formed in response to the epidemiological situation
Stepanova M.N., Morozova M.S.
The deterioration of the epidemiological situation in the country and in the world contributed to the development of a new segment of the insurance market. It is represented by three main areas of insurance coverage: insurance against the risk of contracting a new coronavirus infection, insurance in case of post-vaccination complications, insurance in case of need for rehabilitation after an illness. Despite the expected high social significance, insurance programs have conditions aimed at establishing acceptable limits of insurance coverage. The purpose of the study is to identify and summarize the main types of restrictions imposed by insurance organizations in the formation of insurance products formed in response to the development of an unfavorable epidemiological situation in the country and the world. The object of the study is insurance products presented in the segment of risky personal insurance of the Russian insurance market, insurance coverage for which is associated with the risk of contracting coronavirus infection and its consequences. The paper presents the most common program conditions with specific restrictive properties. It was revealed that they are constituted by restrictions that determine the potential of insurance and restrictions that affect the volume and quality of insurance coverage. Some reduce the availability of insurance coverage, while others reduce its consumer value. The conclusion is made about the assumption of the facts of the formal formation of the conditions of insurance programs, the inconsistency of market offers with the basic expectations of the population. The completeness of the implementation of the social function of insurance in the segment, the social significance of which was associated with the functional and financial capabilities of insurers to be useful in a situation of justified increased demand for protection from the general population, was questioned.
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Keywords: COVID-19 insurance, insurance market, insurance restrictions, insurance market range, insurance products, health insurance, health insurance, personal insurance, insurance market, insurance demand.
This work is licensed under a Creative Commons Attribution-NonCommercial 4.0 International License
UDC 368.9
Limitations as a characteristic of insurance products formed in response to the epidemiological situation
The deterioration of the epidemiological situation in the country and in the world contributed to the development of a new segment of the insurance market. It is represented by three main areas of insurance coverage: insurance against the risk of contracting a new coronavirus infection, insurance in case of post-vaccination complications, insurance in case of need for rehabilitation after an illness. Despite the expected high social significance, insurance programs have conditions aimed at establishing acceptable limits of insurance coverage. The purpose of the study is to identify and summarize the main types of restrictions imposed by insurance organizations in the formation of insurance products formed in response to the development of an unfavorable epidemiological situation in the country and the world. The object of the study is insurance products presented in the segment of risky personal insurance of the Russian insurance market, insurance coverage for which is associated with the risk of contracting coronavirus infection and its consequences. The paper presents the most common program conditions with specific restrictive properties. It was revealed that they are constituted by restrictions that determine the potential of insurance and restrictions that affect the volume and quality of insurance coverage. Some reduce the availability of insurance coverage, while others reduce its consumer value. The conclusion is made about the assumption of the facts of the formal formation of the conditions of insurance programs, the inconsistency of market offers with the basic expectations of the population. The completeness of the implementation of the social function of insurance in the segment, the social significance of which was associated with the functional and financial capabilities of insurers to be useful in a situation of justified increased demand for protection from the general population, was questioned.
Read the full article
Keywords: COVID-19 insurance, insurance market, insurance restrictions, insurance market range, insurance products, health insurance, health insurance, personal insurance, insurance market, insurance demand.
DOI 10.17586/2310-1172-2022-15-1-55-62