Integrated Estimation of the Security of Insurance Market in Ukraine
Journal Title: Бізнес Інформ - Year 2015, Vol 2, Issue 0
Abstract
The article presents the authors' definition of the category of «insurance market security», taking into account the interaction of development processes at the micro and macro levels of the management hierarchy system. An estimation of the security level of the insurance market of Ukraine has been carried out with revealing the most significant threats to the development of the insurance sector of the national economy. The basic directions of strengthening the domestic insurance market security in the current conditions of transformation of the economy of Ukraine have been substantiated. Results of the study showed improved security of the insurance market of Ukraine for the time span of 2009-2013. At the same time, the statistical values of the indicators, which are stimulants of the insurance market security, during this period did not meet the criteria of safety and were significantly below the mandatory threshold values. This shows that the domestic insurance market is not able to fully perform their functions related to compensation of losses of economic agents, is used to launder funds, reduce the tax burden, and does not play a prominent role in the terms of the national economy. As for the indicators-disincentives, their changes were not relevant and within the normal range, which can be seen as positive factor. The integrated indicator of insurance market security has proven to be the most sensitive to changes in the long-term insurance share in the total volume the of collected insurance premiums and very sensitive to the change of the indicator of premium rate, belonging to the non-resident re-insurers. The authors believe that the main directions of improving security of the Ukrainian insurance market should focus on optimizing these indicators.
Authors and Affiliations
Iryna Babets, Olga Zhabynets
Keywords
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- EP ID EP122078
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