compulsory insurance

Main article: Mandatory insurance

Such insurance is mandatory when the state sets the mandatory introduction of appropriate terms of insurance premiums of policyholders. The mandatory form of insurance covers the priority items of insurance coverage, that is, when the need for compensation for material damage or other provision of financial assistance not only affects the interests of a particular victim, but also the public interest. Civil Code (Art. 927) provides for mandatory state insurance, which is carried out by insurance companies at the expense of state budget funds, and mandatory insurance, which must be carried out through other sources.

Examples of compulsory insurance:
Compulsory health insurance
insurance of military
passenger insurance
motor liability insurance
Professional liability insurance for certain professionals (such as notaries in the Russian Federation)

Compulsory insurance is established by law, under which the insurer is obliged to insure the appropriate facilities, and insurers - due to make insurance payments.

The law generally provides for:
list of objects subject to compulsory insurance;
insurance cover;
level or rate of insurance coverage;
procedure for establishing the tariff rates or the average difference between these rates with the provision of law of their differentiation in the field;
frequency of making insurance payments;
basic rights and obligations of the insurer and the insured.

Compulsory insurance provides, as a rule, continuous coverage of the objects specified in the law. For example, if you require it of the means of transport of passengers, we are obliged to insure everything, who is going to make the trip.

If compulsory insurance is usually provided for the valuation of insurance coverage (for example, the minimum sum insured).