D

DECREASE OF LOSS – an insured is entitled to act in all the cases so, as it its property was not insured, and take all the according measures to diminish loss or prevent it, despite of the fat that the loss can be payable as per conditions of insurance.

DEDUCTIBLE – exemption of an insurer from loss indemnity not exceeding definite extent stipulated by conditions of an insurance agreement. There are conditioned (non-deducted) and unconditioned (deducted) deductible (franchise), which is set in percentage of absolute value to a sum insured.

DELICT - law violation, giving occasion to a claim on losses in the absence of a contract.

DEPOSIT OF INSURANCE PREMIUM – part of the premium, retained by the reinsured by conclusion of a reinsurance agreement in accordance with conditions of the agreement, and owned by the reinsurer, which should be returned to the later in a determined period of time (1 year as a rule) pursuant to the conditions of the agreement. This part of the premium can be used by the reinsured only in case the reinsurer for some reason failed to fulfil his/ her obligations under the concluded agreement.

DISPROPORTIONATE REINSURANCE – form of reinsurance agreements organization, which serves for protection of portfolios of a company from the largest and unforeseen losses. As per conditions of this agreement, the reinsurance instrument enters into force only when the final amount of the loss on the insured risk due to insured event exceeds the conditioned amount.

DIVERSIFICATION IN INSURANCE – activity extension of large insurance companies beyond the main business. Diversification is the most important part of insurance market structure. The more business directions the insurer has, the higher the level of diversification. Чем больше направлений деятельности у страховщика, тем выше уровень Д. There are relative (narrow-spectrum) diversification and irrelative (wide-spectrum) diversification, i.e. not connected with main business activity of the insurance company.

DIVIDEND – a part of profit of a stock insurance company upon the activity results of the insurer for a year, subject to distribution among stockholders in accordance with quantity and value.