PROSPECTS AND DIRECTIONS OF DEVELOPMENT OF THE PROPERTY INSURANCE MARKET IN THE KR

Abstract

The article discusses the role of insurance as a basic element of the functioning of the infrastructure of market relations in the development of the economy.

Currently, insurance is one of the fastest growing business sectors. First of all, this is due to the fact that the non-state sector that has appeared in the national economy makes demand for various types of insurance. Without financial guarantees from the state, the owners want to insure themselves against possible risks. Due to the change in the socio-economic and political situation in the country, when insurance became commercial and occupied its niche in a market economy, the full provision of insurance services without solving theoretical problems became impossible. At the same time, the massive nature of transactions puts insurers in front of the need to solve a number of practical problems. It should be noted that the lag in the level of development of scientific understanding of insurance activities from the level of development of the real insurance market, the insufficient development of measures for legislative regulation of insurance activities caused a number of errors both in regulatory documents and in law enforcement practice.