CHARACTERISTICS OF INSURANCE ACCESSORIES

Abstract

Insurance is a necessary element of modern society, it allows not only to provide compensation for the damage caused to the policy holder, but also to protect him from possible insured risks. The relevance of the article is due to the need to classify insurance as a means of ensuring the fulfilment of obligations. The use of insurance as a means of securing obligations in legal doctrine is still debatable, and there is no unified position among legal scholars as to whether insurance is recognised as a security for the performance of obligations, which would make it possible to determine its accessory nature. At the same time, the possibilities of insurance of the risk of liability for breach of contractual obligations are considered, when insurance becomes dependent on the main obligation. The author studies the classification of forms of security, analyses the specifics of insurance and its types. This helps to reveal the potential of using insurance as security for the principal obligation. The article reveals how the specificities of certain types of insurance contracts, revealing the signs of their accessory nature, the relevant conclusions are made as to whether the insurance contract can act as collateral (related) security of the main obligation, corresponding to the signs of accessory nature.