SIGNIFICANCE AND POSSIBILITIES OF MAJOR ACCIDENT INSURANCE

The development of human society is placing ever increasing demands on their production. This action brings the company not only positive but also negative impacts. Along with the development of industrial production, people have to face the risks posed their activity brings. The accidents, which occurred in the recent past, they still have a negative impact not only on humans but also on the environment and the economy. In this paper, we address the issue of major accidents. Major accidents are meant only accidents caused induced by human activities. The paper presents the best known major accidents since the beginning of the 20th century. They have come in the European Union to modify the legislation that is valid for the all EU Member States. In the Czech Republic, these rules are enshrined in Act No. 59/2009 Coll., on the prevention of major accidents. For human society is a necessary protection against the effects arising from major accidents. One of the possibilities is the insurance of major accidents. Since in major accidents frequently occurs very high damage is therefore utilized modelling and simulation of extreme values. One of the options that can be used is modelling using the quantile function. The paper recalled model and process simulation of extreme values. It is possible to estimate the values of the damage amounts thanks to the help of the simulation of the quantile function, and it is also possible to estimate the maximum limit of the interval of damage. This knowledge can be used in deciding on the appropriate type of non-proportional reinsurance and also for the management of catastrophic risk insurance.