Integrated evaluation as a precedence of economic security management insurance market

Olga I. Vikarchuk, Serhii M. Nikolaienko, Olena O. Kalinichenko and Iryna O. Poita

RIVISTA DI STUDI SULLA SOSTENIBILITA', 2020, vol. X, issue 2 suppl., 157-171

Abstract: The level of economic security of Ukraine?s insurance market is at a dangerous level, while the countries of Eastern Europe are at a high level. the necessity of state management of the economic safety of the insurance market through: rais-ing the level of life quality of the population and the insurance culture; introduc-tion of increased requirements for the operation of insurance companies with for-eign capital determines the relevance of the topic. The purpose of the study is the scientific substantiation of theoretical approaches and scientific and practical rec-ommendations for improving the efficiency of the economic security manage-ment system of the insurance market of Ukraine and other countries of Eastern Europe through analysis of insurance markets, an integrated assessment of the level of economic security of the insurance market and studying European experi-ence. The leading research methods were comprehensive analysis and comprehen-sive assessment of the state of safety of the insurance market in Ukraine. The arti-cle presents the results of empirical analysis of the research of individual indices of insurance markets of European countries, which testified that the insurance mar-ket in Ukraine was poorly developed, and its indicators are far behind European markets and do not meet national standards. The research empirically confirms and theoretically proves the necessity of state management of the economic safe-ty of the insurance market through: strict supervision and control over mergers and acquisitions in the insurance market; regulation of reinsurance operations; the in-troduction of a special tax policy for subjects of insurance relations; providing var-ious benefits to insurance companies in order to stimulate their activities. The re-sults of the study may be useful for state insurance supervisory authorities, non-state insurance associations, insurance companies and academics in the field of insurance.

Date: 2020
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