Rollouts in construction and installation risks reached record volumes

In the construction and installation insurance market, rollouts reached unprecedented heights. In pursuit of fees, some insurers are ready to share 80% of the bonus with builders. Large insurers are alarming: because of such schemes, the market is perceived as a mechanism for pumping money. This is written by the newspaper "RBC Daily" .

According to the publication, in the post-crisis period, when the struggle for bonuses was especially aggravated, rollouts in insurance of construction and installation works (SMR) have become especially relevant. After the construction boom, the market practically got up, the SK risked to be left without bonuses: since the SMR insurance is not mandatory, the insurers agreed to kickbacks, just to get at least some money from the builders.

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“Today, construction companies have come to the point that they demand up to 80% of the rollback for the conclusion of an insurance contract,” said Nikolai Galushin, deputy general director of Ingosstrakh. “Only I had several cases when customers proposed to cooperate through an intermediary who took a commission that made up more than half a prize.”

“As a rule, kickbacks are built according to the following scheme: the managers of some construction companies who are responsible for insurance agree with the intermediary and offer insurance companies to work through it,” says Alexei Yanin, head of the ratings of the expert RA insurance companies. According to him, this intermediary takes a commission in the amount of 50 to 80% of the award, which is a formal rollback.

According to the expert RA, in the first half of 2010, the volume of the SMR insurance market amounted to about 9 billion rubles, the volume of kickbacks - about 4-6 billion rubles. In 2009, the market volume reached 17 billion rubles, and kickbacks - 8-10 billion rubles.

“We are very concerned about the problem of kickbacks, since the SMR insurance market is very promising: we evaluate the penetration of insurance on it at only 30-40%, and due to the behavior of some insurers, it seems that insurance is a way of pumping money, and not the ability to hedge risks,” Nikolai Galushin worries. He believes that, as a rule, small insurers who specialize in construction insurance and installation works agree to kickbacks. "And, on the contrary, large construction projects are insured," added Alexei Yanin.

According to the President of the SRO "Centerregion" Kirill Shalin, any sane company that needs to insure its responsibility for construction and installation risks should apply to the TOP-20 insurance companies, in extreme cases in the TOP-50.