Uman NUH | today: 07/08/2024
| Author(s) |
Vlasyuk S.A., , , Uman National University of Horticulture Ролінський О. В., , , Ясінський О. Р., , , |
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| Category | Economics | ||
| year | 2024 | issue | Issue number 104. Part 2 |
| pages | 358-367 | index UDK | 330.3:368 | DOI | 10.32782/2415-8240-2024-104-2-358-367 (Link) |
| Abstract | The area of financial risk insurance focuses on maintaining financial stability through a variety of criteria and strategies, including key factors such as having sufficient capital, maintaining a balanced insurance portfolio and establishing a robust reinsurance program. In addition, optimal tariff policies and adequate insurance reserves play an important role in ensuring the overall solvency of insurance companies. Analyze the factors affecting financial stability and reveal their impact on the activities of insurance companies. By examining the Ukrainian insurance market, including the number of insurance companies, total written premiums, and claims, the study aims to understand the dynamics affecting the financial stability of the industry. The main purpose of this article is to analyze the important factors that contribute to financial stability and proper financial risk management should be a priority for any business entity in order for insurance companies to achieve and maintain a high level of stability and solvency. For financial risk management to function properly, it is necessary to strengthen basic insurance laws, adopt a risk-based regulatory framework, improve the supervision and management of the insurance sector, especially on disaster risk, develop local capacity that can help decision makers better understand risk models and financial analysis, make informed decisions on disaster financial management, and improve scientific/technical training. It is necessary to adopt a comprehensive approach to disaster risk management. The authors' conclusions emphasize the importance of insurance products in the broader context of risk management and financial security in the insurance sector | ||
| Key words | insurance, insurance market, financial risks, insurer, insured, insurance reserves, insurance premiums, insurance payments | ||