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Risk management insurance company on the basis of the information model

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Background: Insurance is a powerful tool for smoothing losses arising in the course of economic activity. A key element of the review process is to determine the insurance risk insurance for different approaches formation of the insurance premium. Naturally, the more appropriate approach is to determine the risk-based insurance model, with subsequent correction results. The article deals with the simulation of risks insured losses in agriculture. Particular attention is paid to the risks inherent in the cultivation of grain. Methods: Modeling carried out on the basis of individual risk model under the assumption of full coverage insurance field. In contrast to classical approaches, this paper takes into account the correlation of significant losses on certain contracts. In the simulation it was assumed that the losses are subject to the normal distribution law. Results: To implement accounting correlated losses have developed an algorithm for generating random variables correlated with each other. It is this algorithm is the basis of the results of risk insurance. In this paper carried out the analysis of differences in the simulation results of insurance risks by taking into account correlation of losses and the assumption of independence of the results of individual contracts. Conclusions: Accounting correlated losses on insurance contracts in agriculture allows more precise approach to the determination of premiums and to develop a strategy for managing this type of insurance from the state to avoid a fatal loss of insurance companies.

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