Safeguard abilities one names the part of the active of an insurance company, which serves to secure the requirements of the insurants in insurance.

To the safeguard ability therefore special restrictions apply.

Range of the safeguard ability

The height of the safeguard ability depends on "§ 66 of the law of supervision of insurance (VAG). The safeguard ability must cover the sum of the following posts at least:

1. Contribution transfers
2. Covering resetting
3. the resetting for
   • not yet completed accidents and buy-back
   • success-independent refund of contributions
   • unspent contributions from resting insurance contracts
4. the fixed part of the resetting for success-dependent refund of contributions
5. Commitments from the insurance transaction opposite insurants, even locked
6. the amounts taken as premium, which an insurance company has to refund, if an insurance contract or a business specified in "§ 1 exp. 4 VAG came or were waived not

Safeguard ability as insolvency protection

Due to the Sicherstellung of the requirements of the insured ones in case of an insolvency, the safeguard ability is a special estate separated internally from the remaining fortune of the insurance company, which is extracted from the access of other creditors. The safeguard ability of belonging fortune articles in a safeguard summary of assets and liabilities are led. In the life insurance, which substitutive health insurance and the private care obligation insurance the safeguard ability of a trustee supervised.

Liabilities fund as predecessors of the safeguard ability

Until December 2003 the liabilities fund fulfilled the function of the safeguard ability. With the extension of the positions which can be covered (pre-payments and premium depots and a majority of the damage resetting by the liabilities fund were not e.g. secured) - also to the avoidance of mistakes - renaming this security instrument took place in safeguard abilities.

bound fortune

The insurance-technical resetting as well as the commitments and calculation deferred items, as far as they originate from insurance contracts, form the bound fortune. As far as the bound fortune not already belongs to the safeguard ability, it forms the other bound fortune.

Investment regulations

After "§ 54b VAG the investments are fund and index-linked life insurance in their own department of the safeguard ability, the plant stick, to put on in the values concerned.

In all other respects apply for 54 VAG and the plant regulation (AnlV), issued on its basis, to the plant of the bound fortune (and thus the safeguard ability) the regulations "§. Goals of the investment are security and profitability with consideration of the liquidity. The permissible plant forms are finally described. Are to be considered the principles of mixture (quantitative restriction of individual kinds of investment) and dispersion (on different debtors).

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BaFin: Plant regulation (AnlV) (version consolidated)

Articles in category "Safeguard ability"

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