Insurance Activities Research Articles

СТРАТЕГІЧНІ ПРІОРИТЕТИ РОЗВИТКУ СТРАХОВОГО РИНКУ УКРАЇНИ

The article reveals the role of the insurance market in the regulation of socio-economic processes. It is substantiated that the insurance market is an important element of a market economy, respectively, substantiation of the priorities of its development, ensuring the adaptability of the mechanism of state regulation of insurance activities to socio-economic processes is a strategic task. In turn, a developed insurance market contributes to achieving the goals of socio-economic development of the country. The factors that determine the peculiarities of the insurance market development and the ability of the state regulator to perform its tasks and functions in regulating insurance activities have been studied. It is determined that the restraining factors of Ukraine's insurance market development are: increasing military aggression against the country, high inflation, unstable financial condition of insurance companies, lack of optimal ratio in the structure of the insurance portfolio; relative closedness of the insurance sector; low level of integration in the world economic space; underdeveloped segment of long- term insurance, which could be a significant source of domestic investment to support the domestic economy. The main scientific approaches are revealed and the development of the insurance market of Ukraine is assessed. The dynamics of gross and net insurance premiums, gross and net insurance benefits, the level of gross premiums and benefits are analyzed. The main problems are considered and the priorities of the development of the insurance market of Ukraine are substantiated, which include: introduction of alternative mechanisms for assessing insurance risks; increasing the effectiveness of risk management tools in insurance activities; active introduction of information technologies, which will speed up the process of data exchange, simplify the procedure for concluding insurance contracts; increase in the share of long-term insurance in the overall structure; unification of insurance conditions taking into account international standards.

Assessment of the posterior risk of sudden death due to cardiovascular diseases at the workplace

Introduction. The aim of the study was to find the associations between cardiovascular disease and occupational risk factors of sudden death in the context of the St. Petersburg population. It remains relevant and is part of the problem of a significant mortality rate among working-age people in the Russian Federation. Materials and methods. Methods adopted in the study of non-infectious diseases were selected as the primary research methods. The analysis of deaths of employees of enterprises was carried out based on a retrospective cohort. Results. There has been a marked increase in sudden cardiac death (SCD) in the workplace from cardiovascular diseases. The calculation of mortality rates per 10000 workers from cardiovascular diseases showed that the first ranking place in the period since 2016 until 2018 in St. Petersburg was occupied by such types of economic activities as administrative activities (6,05 cases); construction (4,23 cases); provision of electricity, gas and steam (3,63 cases); land transport activities (3,26 cases); financial and insurance activities (3,02 cases) and manufacturing (1,97 cases). The posterior risk of death from diseases of the circulatory system was established to be 1.67 times higher for workers employed in jobs with harmful working conditions. The analysis of SCD showed that the high level of risk for workers is recorded at the age of 50 to 59 years, reaching values of 27,72 (11,33-67,81) (p <0,001). In the course of the study, it was found that the organization of timely medical care in the conditions of health centres of industrial enterprises in the acute period of the development of cardiovascular insufficiency will contribute to a decrease in mortality rates at the workplace by more than three times. Limitations. The study of the causes and indicators of 347 deaths at the workplace was carried out based on official statistics provided by the State Labor Inspectorate in St. Petersburg and registered at industrial enterprises in the period from 2016 to 2018. The study does not include small and medium-sized businesses. Conclusion. The results of assessing the risk of death in the workplace of industrial enterprises in St. Petersburg indicate the need to improve the organization and procedure for investigating, recording and registering such cases in order to establish cause-and-effect relationships.

New Methods in Assessing the Risks and Solvency of Insurance Companies

Determining the solvency of insurance companies on the basis of comprehensive consideration of different risk groups is becoming especially relevant in modern financial activity, which requires thorough research of these aspects of the problem. This article contains the types and structuring of the main risks of insurance activity and it also presents their relationships.

The Legal Basis For Free Entrepreneurship

The main source of financing of the financial system of Georgia and the most promising means of entrepreneurial activity. The development of market economy depends on an unjustified comprehensive regulation of entrepreneurial relations. Entrepreneurship is based on an organized initiative of individuals and their unions, independent and repeated activities aimed at obtaining material wealth, intellectual values, paid services or other works. It shall be carried out in Georgia in consideration of national interests: it is not permissible to commit criminal interests against national interests in order to win profits. Legal regulation process of entrepreneurial relations was commenced in 1991 in Georgia by law of Georgia “about the basics of entrepreneurial activity”. It laid the foundation to start of entrepreneurial activity and has established the legal conditions of subject of commercial nature. Initially, the entrepreneurial practice has placed the topic “to develop an applicable legislation” in agenda. Nowadays the field related to entrepreneurs is thoroughly and comparatively perfectly governed by 1994 Law of Georgia “about entrepreneurs” and Civil Code of Georgia dated as of 1997. According the law, an entrepreneur bears the responsibility in case of non-fulfilment or improper fulfilment of agreement concluded, for violation of anti-monopoly legislation, for defamation of consumer interests, for environmental pollution, for damage and demolition of state and social property, national valuations, historical and cultural monuments, for incorrect labeling of the goods, for violation of standards and technical terms, for violation of labor safety, for non-fulfilment of tax liabilities and other. The guarantor to protect the entrepreneur`s rights and lawful interests in Georgia is the country. It ensures the equal rights of all entrepreneurs. During the overview of market business principles the significant importance is given to develop small and medium business. The country puts every its effort to promote an expansion and development of small enterprise activities. The reimbursement of loss dealt to entrepreneur due to lawless actions of state bodies or their officials is subject to discuss according the judicial rule. Comprehensive development of entrepreneurial activity constitutes the guarantee of stable financial resources of the country. Keywords: Charter, insurance activities, attachments, licensing. Forsyth Methodology - A Strategic Tool For The Development of Regional Industries

State and Trends of Occupational Health and Safety in the Philippines

Introduction. In the Philippines, industries began to recognize the importance of workers’ health after occupational safety and health were introduced in the early 1900s. Ever since, several legal bases have existed to protect the people’s welfare. However, data regarding this matter is limited in the country.
 Objective. This paper aimed to develop a comprehensive review of occupational safety and health data, including hazard exposures and occupational diseases for various Filipino occupational groups.
 Methods. A comprehensive analysis of the latest records and statistics from various government agencies, non-government organizations, academe, and research institutions was done. Data analysis was completed through a critical appraisal of the Philippines' current occupational health and safety regarding occupational diseases, injuries, accidents, and existing occupational health and safety policies. Data were also extracted from reviews of literature and other related research studies. Data analysis was done through a critical appraisal of the Philippines' current occupational health and safety in terms of occupational diseases, injuries, accidents, and existing occupational health and safety policies.
 Results. Most of those working in the informal sectors do not have enough social protection in the Philippine context. Others in the same situation involve construction workers, farmers, miners, and waste or garbage pickers. Child labor was also seen to be prevalent, risking these children's health and safety. Another issue is on gender, and wherein women were found to have lesser protection than their counterparts. Among the industries present in the country, administrative and support service activities, manufacturing, wholesale and retail trade, financial and insurance activities, education except for public education, and agriculture, forestry, and fishing were seen to have a high prevalence of occupational diseases. The study has shown occupational safety and health among various occupational groups and categories, the profile of occupational diseases in Philippine industries, and the OSH programs implemented in industries.
 Conclusion. Analysis of available data confirmed the presence of threats of unsafe and unhealthy conditions in various jobs and workplaces. To keep up with other nations, the country should strive more with its local developments.

Trends in Telehealth Care for Diabetes During the COVID-19 Pandemic

Importance: This very large claims data analysis documents widespread adoption of telehealth use by patients with diabetes during the first year of the COVID-19 pandemic, giving us insight into the potential role of telehealth as we enter a stage of “new normal” of healthcare delivery in the U.S. Objective: The COVID-19 Telehealth Impact Study was designed to describe the natural experiment of telehealth adoption during the pandemic. This focused analysis can assist program development for care of large populations of patients with diabetes. Design, Setting, Participants: In March 2020, the MITRE Corporation and Mayo Clinic founded the COVID-19 Healthcare Coalition (C19HCC) and Telehealth Impact Study to respond to the pandemic. We report trends using a data set of over 2 billion healthcare claims covering over 50% of private insurance activity in the U.S. (January 2019-March 2021). Main Outcomes and Measures: We compared rates of telehealth use in the one-year pre and one-year post onset of the COVID-19 pandemic among a population of 8,339,633 patients with diabetes. Results: Compared to a baseline of very low telehealth use in 2019, there was rapid adoption of telehealth by patients with diabetes in Spring 2020. 27% of diabetics used telehealth in Q2 2020 and use rates declined in the ensuing months to approximately 13%. Diabetics and their providers used telehealth to address a wide variety of health problems. 77% of telehealth visits addressed diabetes, 53% hypertension and over 40% of visits addressed mental and behavioral health diagnoses. Audio-only (telephone visits) accounted for a substantial portion of telehealth encounters (10.0- 16.3%) and will be an important consideration for future telehealth planning. Over the course of the first 12 months of the pandemic, 98% diabetics who used telehealth used 4 or fewer telehealth visit. Conclusions and Relevance: We believe that telehealth will quickly become a best practice for routine care of patients with diabetes and other chronic conditions. Telehealth interactions 2-4 times per year supplemented with remote monitoring for glucose, blood pressure and weight have the potential to greatly enhance patient care. Further research will be needed to measure the telehealth impact on glycemic control, patient satisfaction and other outcomes. We encourage CMS and other payers to embrace and promote use of telehealth based on this real-world experience of patients and providers during the pandemic.

Description of insurance organization’s business processes from the perspective of internal control procedures

Subject. The article is devoted to essential conceptual, methodological provisions of internal control of business processes and its development. Objectives. The aim is to describe business processes to understand the operations and their sequence in insurance company’s activities, investigate control procedures used in the internal control of insurer's business processes, determine the strength of control procedure and optimize the internal control of the insurance business. Methods. The study employs economic and mathematical methods, methods of grouping, statistical research, economic analysis, comparison. Results. I provide a detailed description of business processes of the insurance company, link control procedures to each business process, determine the specific weight of every control procedure in a particular business process. The extended description of business processes in the insurance business in the context of control procedures enabled to calculate the indicator of strength of insurer's control procedure. Conclusions. The effectiveness of business processes of any insurance company largely depends on the control activities of the insurer. Optimally selected control procedures, which are the most appropriate for a particular process, represent the optimization of internal controls of insurance activities.

INSTITUTIONAL SUPPORT FOR STATE REGULATION OF INSURANCE BUSINESS IN TAJIKISTAN

The article analyzes the growth trends of the economy of the Republic of Tajikistan, which accompanied the development of the insurance institution as one of the components of the economic infrastructure. The specific features of insurance business, trends in the formation and development of the institutional structure and a high level of institutional relations in this type of activity are revealed. It is substantiated that at the present stage of the development of the republic, the state regulation of insurance activities has turned into a complex system of regulation, covering various blocks of relations, both regarding the creation and use of insurance funds, and related to the functioning of various structures of economic institutions, which requires the appropriate type of institutional provision regulation.

Financial Role of Insurance on Economic Development in Denmark

The insurance plays an essential role in economic development by alleviating business risks occasioned by abrupt and disastrous incidents in established and developing nations. Thus, the research assessed the financial role of insurance on economic development in Denmark. The research adopted the descriptive research design. The target population was 200 insurance companies. The research study sampled 100 participants that were chosen from the target population of 200. The sampling technique that was considered the most appropriate was stratified. Questionnaires were utilized to gather the data. The study results showed that insurance is significant in impacting the economic development in Denmark. Insurance activity improves families and organizations' financial stability and helps with competitiveness and the growth of trade and business. Insurance companies help businesses mitigate risk and protect their employees, thus spurring economic development. In addition, insurance companies help finance economic development projects. The study recommended that more emphasis should be developed by all the stakeholders in Denmark, including the government, to ensure the insurance companies are sustainable. The regulatory authorities should establish policies to make it attractive for its residents to patronize the insurance business. This would certainly translate to enhanced insurance investment and more outcomes to the development of the economy because insurance investment has a positive link with GDP. Insurance policies must be made mandatory for people and enterprises to motivate and shield financiers and ensure sustained economic growth. Keywords: Insurance, Economic Development, Denmark

CURRENT STATE OF DEVELOPMENT OF THE INSURANCE MARKET IN UKRAINE

The given statistical data show that the interest of Ukrainians in insurance and the level of financial literacy of the population is growing, trust in insurance services is increasing. However, the crisis related to the COVID-19 pandemic and the economic crisis in 2020 continued to have a moderate impact on insurers. Insurers’ insurance premiums reported to the National Bank maintained an upward trend, but the increase was halved. The problematic consequences of the pandemic for insurers are: reduction of the share of insurance premiums for aviation insurance and property insurance; reducing the number of contracts related to new car insurance; difficulty in the organization of remote customer service by employees of the insurance company, namely the assessors of insurance losses; elimination of small insurance companies that failed to organize quality online services. The pandemic has led to both positive and negative consequences in the activities of domestic insurers. It gave a new impetus to the development of insurance culture among Ukrainian citizens. People began to understand the importance of such a service, especially life and health insurance. Therefore, it can be argued that most insurance companies in the market were able to adjust and find solutions for stable operation in conditions of economic danger. Thus, according to the current process of formation of the insurance market in Ukraine, we came to the conclusion that its further successful development will depend on: effective control over the activities of insurers by the state; strengthening the capital requirements of insurers, their solvency and assets; adaptation of domestic insurance legislation in accordance with the norms, rules and requirements of European and world markets; introduction of innovative insurance technologies and the latest service quality standards in this area; creation of associations of insurers on the most important insurance issues; creation of a comprehensive system of training and retraining; promotion of insurance services among the population.

SIMULATION MODELLING OF THE ALGORITHM OF STATE REGULATION OF FINANCIAL STABILITY OF AN INSURANCE COMPANY

At present, Ukraine as a whole underestimates the possibilities of insurance as an influential tool for the development of the national economy. The potential of insurance, which is aimed at creating a market system of protection of property rights and interests of owners, maintaining socio-economic stability in society, is not used at full capacity. Insurance, as an integral part of the financial sector of the economy, accounts for a very small share in the structure of GDP. Ukraine's entry into the system of world economic relations and restructuring of its economy on a market basis requires the development of insurance business in Ukraine. The author proceeds from the fact that the most effective step in solving these problems should be the state regulation of insurance activities in Ukraine. Article main unresolved theoretical and practical issues of Government regulation insurance activities in Ukraine. It proposes ways and orientations of increasing the efficiency of insurance activities in Ukraine. Role of public institutions in formation and regulation of insurance market are investigated. Functioning of system of state regulation of insurance activities is analysed; ways and possibilities of its improvements are found. Peculiarities of official insurance policy are revealed. Main methods and instruments of state regulation of insurance activities are considered. Existing in world practice systems of organization of regulation and control over insurance activities are covered. Foreign experience of state regulation of insurance activities is evaluated in terms of possibilities of its adaptation to national economy of Ukraine under present conditions of its national insurance market. Moreover, is justifies that without continuing active role of the Government it is impossible to successfully resolve urgent issues of economic and social nature focused on the development of insurance activities, increasing its effectiveness and impact on the economy.

МОНІТОРИНГ ФІНАНСОВОГО СТАНУ СТРАХОВОЇ КОМПАНІЇ

Theoretical and methodological approaches to assessing the financial condition of well-known insurance organizations for the purpose of monitoring their condition are considered in the article for the stable operation of insurance companies. Monitoring in the anti-crisis management of an insurance company still remains an underdeveloped problem, therefore the issues of developing a methodology and analytical apparatus for building financial monitoring models, developing analytical and predictive procedures for the strategic development of an insurance organization are urgent. Taking into account methodical approaches to the assessment of the financial condition of the insurance organization, an analysis of the activities of insurers and timely identification of weaknesses in the activities of insurers was carried out. At the same time, a SWOT analysis of insurers' activities was carried out in order to choose strategic directions for their development. SWOT analysis is a necessary element of research, a mandatory preliminary stage in the preparation of any level of strategic plans. Thus, a well-conducted SWOT analysis makes it possible to identify both tactical and strategic problems, the further analysis of which will be the basis for developing a system for managing the effectiveness of the insurance company's financial activities. In accordance with the obtained results, insurers are offered to choose a renewal strategy. It involves a continuous process of searching for and implementing new management methods aimed at the consistent improvement of various areas of the insurer's activity. Strategy development will take into account adaptation to the external environment, internal coordination and organizational foresight. Therefore, strategic programs should be made flexible enough to be reoriented or modified if necessary. The need to use the main approaches of financial monitoring to develop the insurance company's development strategy is substantiated.

ІНВЕСТИЦІЙНІ РИЗИКИ ТА ІНВЕСТИЦІЙНІ ПРОЦЕСИ В УКРАЇНІ У РОЗРІЗІ ВИДІВ ЕКОНОМІЧНОЇ ДІЯЛЬНОСТІ

The article is devoted to the problems of assessment and modeling of investment processes in terms of economic activity types. The article determines that the development of state investment activity as an economic category is characterized by certain degrees of uncertainty and risk. In addition, investment risks and the influence of their factors on the development of the economic system are characterized. It is emphasized that investment risks can be interpreted as the probability of not receiving investment profits, social effects of investments, failure to achieve planned investment goals. Obviously, the investment risks of the economic system are influenced by a number of external and internal factors. The authors indicated that among the external factors, if the economic system is considered at the micro level, are an unbalanced market, an unstable market situation, an increase in the level of inflation, unpredictable actions of economic counterparties, a decrease in the welfare of the population, an increase in unemployment, various force majeure circumstances, political and economic crises, military actions in country, etc. Among the internal – unqualified staff, dishonesty of management, low level of productivity and others. It is also stated that risk is an integral component of any sphere of economic activity. Therefore, it is extremely important to take into account risks in investment activities, as every investor seeks to minimize them, reduce the level of potential losses, take into account various factors influencing investment processes, etc. The research also analyzed the dynamics of capital investments in Ukraine for 2010–2020, calculated indicators of the dynamics of capital investments in Ukraine such as absolute growth, growth rate, growth rate, etc. The model of averaging indicators over time was also used. The research selected the types of economic activity that are the most important both in wartime and in peacetime: agriculture, forestry and fishing, industry, construction, transport, warehousing, postal and courier activities, food and beverage provision activities, information and telecommunications, financial and insurance activities, public administration and defense; compulsory social insurance. The profitability indicator is also used to assess investment risks. Therefore, the profitability of economic activities was evaluated. Special attention is focused on the systematization of information on investment processes in Ukraine in the form of tables and visualization of data on investment activity.

РОЗВИТОК СТАРТАПІВ В УКРАЇНІ: ТЕОРЕТИЧНІ АСПЕКТИ, ТЕНДЕНЦІЇ, МОЖЛИВОСТІ

The article examines the theoretical aspects of the functioning of startups: the essence, content, and differences of startups from traditional entrepreneurship. A startup is a modern form of starting an innovative business that has a high potential for development and is designed for rapid growth and scalability. The main criteria that determine the credibility of startups and form their rating are identified: efficiency; financing; market size; talent; experience; knowledge; connectivity. Ukraine's international ranking for the development of startups, as well as trends in the country's leading cities are analyzed. According to the international rating StartupBlink, Ukraine in 2021 ranked 34th among 100 countries. Over the past 20 years, the development of startups in the IT industry has gained momentum. However, there are many promising areas in the country, in addition to IT, which may develop in the future and help bring Ukraine to high ratings. An assessment of investment attraction and cost formation of startups in Ukraine was conducted. The risks and problems faced by Ukrainian startups have been identified. The tendencies and strategic prospects of further development of startups are outlined, among which: activity in the field of information technologies; the growing number of startups with mobile applications, computer programs, and games; stimulating innovation and development of startups in the processing industry, financial and insurance activities, telecommunications. Ukraine has great potential and opportunities for the development of startups in the future, but their further implementation is possible only with effective state intervention. The problem for Ukraine is the insufficient level of support for startups from the state, the low investment climate in the country, as well as the ambiguous regulatory framework. The directions of state support for the development of startups and venture investment in Ukraine are substantiated: orientation on the development of entrepreneurial culture; enabling startups to participate in international programs; guarantee of protection of the rights of startups, intellectual property; increase in investments by the state for further development of startups in the country.

THE INSURANCE MARKET OF UKRAINE UNDER THE CONDITIONS OF THE STATE OF MARTIAL

The purpose of the article is to study the peculiarities of the regulation of insurance activity in Ukraine under martial law and to determine the prospects for the development of national insurance. This article examines the theoretical aspects that define insurance markets and their structure. The dynamics of the number of insurance companies by type and the main indicators of the insurance market are presented in detail.To analyze the state of the insurance market, the amount of insurance premiums and insurance costs, the number of concluded insurance contracts, the amount of income, the share of total insurance premiums, insurance reserves and assets of insurance companies are taken into account. Factors affecting the insurance market of Ukraine are considered. The rating of the leaders of insurance companies of Ukraine by net premiums is given. A number of problems were identified that must be solved to ensure the competitive functioning of insurance markets. In order to overcome the problems of the effective functioning of the insurance market of Ukraine, the methods of improving its activity are given.At the theoretical level of research, it is possible to highlight insurance activity in Ukraine, as it is based on the norms of the Law on National Insurance, the development of which in the pre-war period took a difficult path, but provides a reliable basis for insurance even in the conditions of martial law. Furthermore, there is no doubt that, despite the martial law, there is still room for further development of insurance, especially as an investment vehicle. It looks promising to attract the investment opportunities of insurance companies to restore the nationwide network of medical and pharmaceutical institutions destroyed by the war. Reasoned opinion, the state can introduce new state securities, focusing on insurance investors, etc., the funds will be directed to the restoration of the state health care system

Digitization in the insurance sector – challenges in the face of the Covid-19 pandemic

The Covid-19 crisis has accelerated the need for a digital transformation of insurance companies, which has shifted from being a strategic option to a necessity. Dynamic changes are transforming the insurance sector. Insurance market leaders who look boldly into the future have not resorted to observation alone and they take actions that allow them to be more customer-oriented, improve their offers, and increase operational efficiency. The aim of this article is to present the digitization processes taking place in the insurance sector in the face of the crisis caused by the Covid-19 pandemic and an attempt to answer the following research question: has digitization in the insurance sector taken the right direction and is a response to the needs of the insurance market participants (insurers, insured persons, intermediaries, etc.) as a consequence of the actual epidemic risk (Covid-19) and its consequences. In order to verify the research question and achieve the set goal, a critical analysis of the source literature, the analysis of trends and digital solutions in the insurance sector and the analysis of secondary data were performed. The study was based on data available in national and international reports, including data published by the Polish Insurance Association, OECD or the Geneva Association.The presented results of the considerations indicate that the use of new technologies and ubiquitous digitization have a great impact on customer expectations, which was particularly noticeable in the aftermath of the epidemic risk come true (Covid-19). The article highlights the changes introduced in the organization's processes (the importance of decision support systems in insurance activities), as well as supporting consumer users (the universality of social media, and the availability of speech and image recognition technology).

ФІНАНСОВА БЕЗПЕКА СТРАХОВИХ КОМПАНІЙ В УМОВАХ НЕСТАБІЛЬНОГО РИНКОВОГО СЕРЕДОВИЩА ФУНКЦІОНУВАННЯ

In the role of the article, there is about that significance in the institute of insurance, as a guarantee of the insurance protection of the interests of all economic entities. Under the insurance activity, it is necessary to understand, regulated by the norms of law state activity of insurers with the provision of insurance services for wages formed insurance funds, which are built to obtain a license, as a rule, with the method of taking profits. The article analyzes the current development of the insurance market of Ukraine, which is characterized by an unstable economic core of functioning, identifies the main problems and analyzes in proportion to the large-scale Russian invasion of real insurance. Today, the insurance market is saving an invariably low share of premiums from insurance companies in the structure of the added value of the entire financial sector. An assessment of the financial status of the taken insurance company has been made, it has been highlighted that it is effective to live from the effective victory of the money, the obligation to pay the selected insurance premiums for the income increase of the population. It was concluded that the functioning of institutions in rather difficult conditions for the country's economy negatively affects the real financial condition of each insurer. Since the beginning of the war, insurers have faced significant problems in their activities, which are a threat to financial security: the inability to work in regions of active hostilities, a decrease in the solvency of customers, a noticeable narrowing of the life insurance segment, an increase in the rate of increase in the amount of insurance capital, insurance reserves, and a decrease in their financial stability. A stable financial condition is the basis of an appropriate level of financial security of insurance companies, which enables effective protection of economic entities from all risks and threats, including, in particular, during the period of martial law. More financially stable and initiatives to introduce new insurance products of the company will successfully ensure insurance activity, but will contribute to ensuring the fulfillment of its obligations to consumers of insurance services.

АНАЛІЗ ПОКАЗНИКІВ ДІЯЛЬНОСТІ СУБ’ЄКТІВ СВІТОВОГО РИНКУ СТРАХОВИХ ПОСЛУГ

The economic sense of insurance marker at the article is determined. The insurance market is relations of insurance service realization and possibility of insurance funds to create conditions of risk reduction and elimination for all participation of economics activities and all segments of the population. Problems of insurance companies’ activities were determined at many scientific sources. Activities of life insurance companies at Ukrainian market were determine. Analyze of insurance companies’ data on national market was made, the main problems and measure of creation situation on insurance market of Ukraine. The insurance brokers, their classification and their functions were determined. But at modern research there are not analyze of insurance companies’ activities on global insurance market. The main aim of article is analyzed of insurance companies’ activities on global insurance market, the global tendencies on global insurance market was determined. Also, this article is dedicated to analyze of insurance companies on wolds insurance services market. At the article the important data such as the ratio of real estate premiums to victims and the ratio of life premiums to annuities. As basic for analyze great insurance companies of German, Great Britain USA, France, Switzerland, Bermuda. Also were analyzed data of most great world insurance brokers. Also the data of activity of world property insurance and life insurance companies were analyzed. Was determined, that during 2019 and 2020 profit of world insurance brokers create. Also was determined, that during 2019 life insurance profit of world insurance companies was created. The traditional insurance is not more the main business of life insurance field. The influence of pandemic COVID 19, showed both positives and negatives effects. Pandemic show impotent of having protection against force mayor. That is why, the support increased as for customer and for companies. Very impotent for insurance company to offer digital communication of all aspects, because it is world tendency. It is very important to develop these tendencies all time.

Uticaj isplata osiguranih suma na investicioni portfolio osiguravajućih kompanija

The need for insurance dates back from the distant past. A lot of time has passed from the primitive insurance forms to its institutionalization and legal implementation. The modern insurance market, regardless of its global character is not equally developed. The unevenness of development is one of its main characteristics, often connected with the achieved level of economic development. Numerous factors influences on the investment activities of insurance companies as the carriers of the insurance market. The subject of this paper will be the examination of the connection of payments of insured sums (damages) on the redistribution of the investment portfolio on the capital market. For this purpose will be formulated two hypotheses, separately for the non-life and life insurance market. Examination of the relationship between the considered variables will be conducted by using SPSS statistical software, ie the Chi-squared test. Regardless of proving the hypotheses will not be possible to draw unique conclusions for both markets.

Government Control and Supervision of Motor Vehicle Insurance Companies in Cameroon: An Appraisal of the Cima Code

The increasing number of victims of automobile accidents has created in every country an urgent social problem. The government’s interest is aroused here since insurance touches the economy much. That is the more reason why government regulates the activities of insurers in order to guarantee a sound economic environment and to protect the interest of policyholders. This control is exhibited by way of preventive, concurrent and final controls extended to the place of business and subsidiaries. The objective of this paper is therefore to examine the extent of government control and supervision of motor vehicle insurance company in Cameroon, its compliance with the CIMA Code and challenges faced. To achieve this objective, the paper adopts a methodology which is doctrinal consisting of primary and secondary data. The findings reveal that though measures have been put in place in compliance with the provisions of the CIMA Code to regulate the activities of motor vehicle insurance companies, the intentions of the legislator have not been reached as it is fraught with challenges. Considering that insurance contracts are contracts of adhesion par excellence, it is recommended that the government should step up measures to better protect the parties involved in the contract as well as ensure that parties perform their obligations