Uman NUH | today: 12/22/2024
| Author(s) | Клименко В. О., , , | ||
|---|---|---|---|
| Category | Economics | ||
| year | 2023 | issue | Issue number 103. Part 2 |
| pages | 140-153 | index UDK | 368.5 | DOI | 10.32782/2415-8240-2023-103-2-140-153 (Link) |
| Abstract | The article is devoted to topical issues related to the peculiarities of the development of insurance services in the agricultural sector of the Ukrainian economy in the context of the new transformational changes in the period 2013–2022. The article describes in detail the current state and outlines the general trends in the development of insurance services in the agricultural sector of Ukraine's economy in 2013–2022. The results of the study reveal the peculiarities of agricultural insurance development in the context of individual components, in particular, the general indicators and criteria that characterise it. Attention is paid to the interpretation of the main indicators of agricultural insurance development and its dynamics, in particular in terms of reinsurance (the level of reinsurance was 60 %), insurance premiums and payments (the level of agricultural insurance payments was 44 %), the optimal portfolio of insurance services (agricultural insurance in the structure of the insurance portfolio of insurers is about 3 %), and the growth of insurance payments (no clearly defined trend, a noticeable decrease by 60 % in 2022). It is determined that reinsurance in the agricultural insurance market is necessary to ensure the financial stability of insurance companies, reduce risk, expand coverage, obtain expert support and increase competitiveness. Level of reinsurance in the agricultural insurance market reflects the degree of involvement of reinsurers (reinsurance companies) in covering agricultural insurance risks. Reinsurance is a process in which an insurance company transfers a certain share of risk to other companies (reinsurers), receiving financial protection from them in the event of insurance claims. It is established that the share of agricultural insurance in the portfolio of insurance organisations operating in the Ukrainian insurance market during the analysed period is quite insignificant: in 2020–2022, agricultural insurance in the structure of the insurer’s insurance portfolio is less than 1 %, and in 2013–2019, it is on average close to 4 %. The level of agri-insurance payments averaged 44.4 % in 2013–2022. The study has led to the conclusion that there is a sufficient level of development of agricultural insurance (in terms of a detailed analysis of key indicators) with a significant improvement in the quality of market characteristics, as well as a number of problems and unresolved issues in the functioning of the latter. It is established that at present the agricultural insurance market is in the process of transition to a qualitatively new stage of functioning, which is generally in line with global trends, while having a strong potential for further development. | ||
| Key words | agricultural insurance, insurance protection, agricultural insurance market, agricultural sector, insurance services, risks, development trends | ||