РОЛЬ ПРУДЕНЦІЙНОГО НАГЛЯДУ У СФЕРІ НАГЛЯДУ ЗА СТРАХОВОЮ ДІЯЛЬНІСТЮ В УКРАЇНІ

Abstract

The article investigates the current state of the insurance market in Ukraine and the history of its formation. The existing problems that hinder the progressive development of the market and attract investment are considered. Attention is paid to the latest legislative state regulation of financial services markets (banking and non-banking) by one regulator (NBU) and the expediency of its introduction in the non-banking financial sector and its further role. The main levers by which Ukraine will be able to obtain a financial system that meets international standards have been identified. The focus is on the provisions of the EU Solvency ll Directive and the requirements and standards set out therein. It also substantiates the feasibility of securing prudential supervision of insurers, which defines its peculiarities and mechanisms by which it operates effectively. The experience of countries that have already introduced this type of surveillance is explored. A number of significant changes have been identified, among which are the following: transparent financial statements, new standards for service provision, extension of oversight functions of the Authorized Body, etc., which will allow for the proper protection of the rights of consumers of financial services. Purpose: to analyze the international norms and standards according to which insurers operate within the European Union. Do the research on the EU Directive (Solvency ll) and the feasibility of its implementation in national legislation. The advantages and disadvantages of prudential supervision of insurers have been identified. Methods: General and specific cognition methods have been involved in the writing of the work. Historical method, comparative-legal method, system-structural analysis method and formal-logical methods have been used as the basis of the research methodology. Results: justification for the introduction of a new transparent financial reporting system in the future; the need to create a new internal insurer risk assessment system and new capital adequacy requirements. Conclusions: A number of advantages and disadvantages of current changes and further transformation of domestic legislation in the field of insurance supervision to the best international standards have been identified. It examines what changes the insurance market of Ukraine is going through and what to expect from insurers in the coming years, what costs will have to be incurred and what they will receive as a result. The focus is on protecting the rights of consumers of financial services to prevent events occurring in the insurance market more than 25 years ago.