Uman National University | today: 12/28/2025
| Author(s) |
Ткаченко Н. В., , , Костюк В. А., , , Ulyanych K.F., Candidate of Economics, , Uman National University of Horticulture, Ukraine Костогриз В. Г., , , |
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| Category | Economics | ||
| year | 2025 | issue | Issue 107 part 2 |
| pages | 429-436 | index UDK | 33.65.347.7.336.368 | DOI | 10.32782/2415-8240-2025-107-2-429-436 (Link) |
| Abstract | The article examines the state of the agricultural sector of the economy for 2020-2025. The dynamics of the development of agricultural insurance for the study period are presented. The main risks of agricultural production are identified (droughts, rains, frosts, floods, war risks). It is studied that the insurance market in the agricultural sector grew moderately but steadily: the insured amount and premiums increased, the insured areas remained at a sufficient level, while the number of companies gradually decreased, the trend of small insurance companies leaving the market continued, and insurance risks were concentrated in a few leading players. This led to increased reliability and financial discipline among the remaining companies, as well as an increase in their capital and investments in agricultural insurance. It has been established that modern flexible solutions for farmers from insurance companies are multi-risk products, index insurance and specialized products for agricultural producers operating in a changing climate, which can cover not only traditional risks, but also unforeseen events. And the expansion of state support, digitalization of insurance processes and integration of agricultural insurance into financial instruments create the prerequisites for increasing the financial stability of farmers. Despite positive trends, the insurance market faces significant challenges: a high risk of catastrophic events, a weak insurance history of many farms, insufficient digitalization of insurance administration, as well as a volatile economic situation due to geopolitical risks. These factors may restrain further increase in farmers' participation in insurance. Therefore, in 2024–2025, the agricultural insurance market in Ukraine is at the stage of structural renewal. There is a consolidation of insurance companies, an increase in insurance premiums and amounts, and new products appear - primarily index and multi-risk. Expanding state support, digitalization of insurance processes, and integration of agricultural insurance into financial instruments (loans, grants, support programs) create the prerequisites for increasing the financial stability of farmers. Thus, agricultural insurance in 2024–2025 is gradually moving from a narrow segment of the insurance market to a key risk management mechanism in the agricultural sector. | ||
| Key words | insurance, insurance companies, risk, agricultural producer, agricultural insurance, insurance market, development | ||