Risk insurance of agricultural enterprises

Abstract

The paper is devoted to the interpretation and analysis of risk insurance of agricultural enterprises. Agricultural insurance is one of the most specific types of insurance, because a huge number of natural factors and emergencies (drought, floods, sudden changes in air temperature, humidity, and insect pests) are constant and inevitable risks of any agriculture. They cause considerable financial losses, and therefore such a sector of the economy must find reliable opportunities to protect against them. One of the risky types of insurance is agricultural risk insurance. This type of insurance is an important means of reducing the degree of risk in agriculture. The paper considers the peculiarities of the functioning of the agricultural segment of the insurance market in foreign countries. The possibility of attracting and adapting foreign experience of state financial support to the insurance market of Ukraine within the framework of basic insurance models is determined. The purpose of the study is to study and generalize risks in insurance, insurance models, foreign experience in agricultural production, development of recommendations for improving insurance operations for public financial support in the agricultural sector of Ukraine, taking into account foreign experience. Risk in agriculture is seen as a threat or possibility to deviate from the expected results of activities or decisions made from the planned ones. The paper also considers the experience of working with foreign countries on this issue. The purpose of the paper is to study the theoretical aspects of risk insurance that arise in the implementation of business activities in agriculture, justification of ways to improve the legislative and financial influence of the state in this process. The purpose of state assistance is to develop insurance infrastructure, standardize insurance conditions, reduce the cost of insurance products for agricultural users and improve the quality of insurance products. So, the main task for insurers of Ukraine is to gain and maintain a decent reputation and provide effective insurance services. Today, the state is trying to improve and stabilize the situation in the agricultural sector, for example, it involves the practice of providing state support in insurance of agricultural products (providing from the state budget to agricultural producers in the form of subsidies to reimburse part of the insurance payment actually paid for them).