State regulation and the main ways to support the development of agricultural insurance in Russia and in foreign countries

Abstract

In our work on the basis of economic literature, statistics and scientific works in periodicals, we analyzed the international experience of conducting agricultural risk insurance in other countries, special attention was paid to issues of state support for this industry. As a result of the study, we identified the features of conducting agricultural insurance abroad, which can be further adapted to the conditions of the Russian insurance market and applied in order to improve and develop the mechanism of agricultural insurance in our country. The article also examined the dynamics of the main economic indicators of the development of the agricultural insurance market with state support. The main indicator of market development is the share of insured sown areas and livestock of farm animals. The dynamics of these indicators over the past six years has shown that the level of agricultural insurance protection in our country is at a low level, despite the fact that in 2019 there was a positive trend to the world average indicators is still very far away. Much attention was paid to indicators characterizing the level of state support for this industry in our country. As a result of research, it was determined that the agricultural risk insurance system lacks budget funds, and its development directly depends on the amount of funding. It should also be noted that large agricultural producers are mostly involved in the insurance process, and for small-scale farming, the proposed insurance products are mostly inaccessible due to the high cost. Further, the main problems of the development of the agricultural insurance mechanism were identified and directions for improving the state support system for this industry were outlined.