The Issue of Determining the Amount of Insurance Compensation if the Insured Event Accurs under the Developer’s Civil Liability Insurance Contract

The author considers different ways for determining the amount of insurance compensation to be paid to the participant of shared-quity construction in case of occurrence of an insured event in the form of recognition of the developer’s insolvency (bankruptcy) or foreclosure of a collateral. The purpose of the paper is to identify approaches to the determination of this amount used by insurers at different stages of implementation of the mechanism of the developer’s civil liability insurance and to analyze these approaches’ legality. The author analyzes actual jurisprudence in cases involving insurers and participants in shared-equity construction. It is established that at the first stage in the legislation there were no rules for determining the amount of insurance compensation in this area, and insurers determined it at their discretion. At the second stage, when the minimum amount of insurance compensation was consolidated in law, insurers faced controversy caused by a mismatch between the amount originally paid by the construction participant under an equity participation agreement and the amount to be paid. The author concludes that, at the second stage, the disagreement concerning the amount of insurance compensation is caused by the insurers’ abuse of right.

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