Insurance was originally performed the function of protecting the public from the risks of production. Scientific and technological progress, radically changed thenature of social production, led to the emergence of new risks, implementation of which could have disastrous consequences.
The result was a general urbanization not only increase the number of man-made disasters, and global climate change, manifested in the rapid growth of natural disasters. Changes in climatic conditions, the active intervention of human natureled to ecological imbalance, which caused a significant increase in catastrophic insured events - hurricanes, storms, typhoons, earthquakes, floods, infestations, epidemics, devastating fires, etc.
Closer to us in 2008 was also one of the most devastating in recent years: 750 disasters, including massive earthquake in Sichuan and a large number of tropical cyclones. All these phenomenals are responsible for the increased need for insurance protection on a global scale, since it is a large and very large risks to insure that a separate national or regional insurance market is becoming impossible. As a consequence of the influence of natural and man-made disasters, from the 70s of the twentieth century, the international insurance market for most types of insurance operations, a systematic trend of growth loss. Note that if you rank the top 10 most unprofitable accidents, 5 of them occurred in the period from 2001.
Scientific and technical progress, changes in social production have led to the emergence of new risks, implementation of which could have disastrous consequences for the global economy. These phenomenals are responsible for the increased need for insurance protection on a global scale, since it is a large and very large risks to insure that a separate national or regional insurance market is becoming impossible.
