scholarly journals METHODICAL APPROACHES TO FORMATION OF TARIFF POLICY IN THE AGRICULTURAL INSURANCE SPHERE

2021 ◽  
Vol 26 (1(86)) ◽  
Author(s):  
Oleksandr Vilenchuk
Keyword(s):  
Economic Feasibility ◽  
Insurance Market ◽  
Insurance Companies ◽  
Tariff Policy ◽  
Agricultural Risk ◽  
Agricultural Insurance ◽  
Agricultural Producers ◽  
Insurance Rate ◽  
Methodological Principles ◽  
Gross Rate

The article substantiates the methodological approaches to the formation of a balanced tariff policy for agricultural insurance services. The outlined approaches are based on methodological principles, which together are focused on achieving holistic guidelines (moral and ethical, socio-psychological, financial and economic) in the relationship between the insurance market stakeholders. The functioning of the insurance protection effective system of agricultural producers while ensuring a sufficient profitability level of insurance operations, requires scientific detail of the pricing mechanism for insurance services. The observance necessity of methodological sequence in the process of actuarial calculations for agricultural insurance services is argued. This sequence involves the following measures: providing access to information sources for assessing agricultural risks and deciding on insurance; processing of statistical data on specific objects of insurance, (in particular, assessing the probability of an insured event and agreeing on key conditions for the transfer of agricultural risks to insurance) the calculation of the full tariff rate (gross rate). The formulated measures are necessary from the standpoint of ensuring information awareness of insurance companies regarding the accepted insurance risks, assessing the probability of insurance risks and possible compensation payments, as well as the economic feasibility of the insurance rate (gross rate) and its components net rate and load. The economic-mathematical interpretation of insurance tariffs related to insurance of natural and climatic risks is carried out. In particular, using actuarial calculations, the rates of insurance tariffs in the insurance of crops (winter wheat, rye, winter barley and rapeseed) for the autumn-winter and spring-summer periods are reflected. The presented calculations can be used by insurance companies specializing in the provision of agricultural risk insurance services. According to the results of the study, the actor’ proposals aimed at ensuring the actuarial balance of stakeholders in the agricultural insurance market are presented.

scholarly journals Factors influencing and dynamics of the agricultural insurance market

VUZF Review ◽  
2021 ◽  
Vol 6 (2) ◽  
pp. 42-49
Author(s):  
Nataliya Tanklevska ◽  
Vitalina Yarmolenko
Keyword(s):  
Crop Production ◽  
Agricultural Sector ◽  
The State ◽  
Insurance Market ◽  
Insurance Companies ◽  
Agricultural Insurance ◽  
Agricultural Producers ◽  
Agricultural Enterprises ◽  
Insurance Sector ◽  
Factors Influencing

The article is aimed at identifying modern features of insurance in the agricultural sector of the Ukrainian economy and defining the factors of influence on the agricultural insurance market. The article discloses interpretation of the terms of «insurance» and «agricultural insurance» and also presents the types of possible risks arising in the activities of agricultural enterprises. The performance indicators of leading insurance companies in the field of agricultural insurance are analyzed. The current state and dynamics of insurance of agricultural risks, which arise both in the field of crop production and in livestock, are researched. This will allow predicting the future prospects of the market for insurance services and products, as well as finding possible optimal ways to solve the problems of product insurance, faced by the agricultural producers. The main factors influencing the efficiency of the insurance market in the agricultural insurance sector are allocated. The basic principles of insurance of agricultural products with the State support are analyzed. It is defined that the further development of agricultural insurance should be directed towards creating a profitable and safe environment for all participants in the agricultural market, which provides for the distribution of risks between agricultural producers, processing enterprises, banks, insurance companies and the State. The agricultural insurance of risks creates possibilities for advantageous harmonizing the interests of participants in the agricultural insurance market and the State as a party whose first priority is to ensure stable economic growth.

scholarly journals Insurance Protection of Agricultural Producers of Ukraine: A Review of Insurance Companies and Products

2021 ◽  
Vol 4 (519) ◽  
pp. 249-256
Author(s):  
N. M. Rubtsova ◽  
◽  
N. H. Radchenko ◽  
N. V. Trusova ◽  
◽  
...  
Keyword(s):  
Current System ◽  
Insurance Market ◽  
Insurance Companies ◽  
Domestic Sphere ◽  
Agricultural Insurance ◽  
Agricultural Producers ◽  
Agricultural Producer ◽  
Insurance Mechanism ◽  
Entire Amount ◽  
Limited Choice

The article is aimed at analyzing the work of insurance companies in the agricultural insurance market, evaluating their services for insurance protection of agricultural producers and studying the State’s efforts in supporting farmers in the sphere of agricultural insurance. In the course of the study, it is defined that the current system of agricultural insurance is unsatisfactory, and every year regressive processes are observed in the agricultural insurance market. The low demand for agricultural insurance in Ukraine is associated with the high cost of the service, limited choice of counter-parties, complexity of the insurance mechanism. The carried out analysis of the work of insurers in the agricultural insurance market indicates their partial participation in this type of insurance: for example, out of 64 insurers licensed for agricultural insurance, only less than a third provide services in this direction. As a result of the study of the line of insurance products for agricultural insurance, it is determined that complex and index insurance and insurance of animals and poultry are in great demand. It is found out that the extanrt system of agricultural insurance with the State support, even under the conditions of its functioning, would not have gained much popularity. The main reasons are a complex insurance mechanism, a one-time payment of 100% insurance premiums and the insecurity of the agricultural producer in obtaining the entire amount of subsidies belonging to him further on. In the future, in order to improve the situation in this industry, it is necessary to make certain amendments to the current legislation, which will revitalize the domestic sphere of agricultural insurance while providing confidence to agricultural producers in the continuity and reproduction of their output.

scholarly journals Innovative Approaches to the Use of Agricultural Insurance Potential

2021 ◽  
Vol 2 (98) ◽  
pp. 6-20
Author(s):  
O. O. Nepochatenko ◽  
◽  
О. T. Prokopchuk ◽  
M. I. Malyovanyi
Keyword(s):  
Quality Management ◽  
Agricultural Sector ◽  
Insurance Market ◽  
Insurance Companies ◽  
Structural Elements ◽  
Conceptual Approach ◽  
Agricultural Insurance ◽  
Agricultural Producers ◽  
Insurance System ◽  
Innovative Approaches

Highly profitable activities of insurance companies in the future, ie from the standpoint of short-term and long-term time frame, provides for the formation of a favorable insurance environment in which the interests of all key players in the agricultural insurance market will be taken into account and protected. In this context, it is important to introduce innovative developments in the field of insurance services to the agricultural sector of the economy. As a result, this study aims to form a conceptual approach to the formation of agricultural insurance relations based on innovative approaches to using the potential of agricultural insurance, based on the feasibility and need to involve IT technologies in the insurance system of the agricultural sector; building interaction between structural elements of the market on the basis of quality management as a basis for ensuring the competitiveness of insurance services in the agricultural insurance market and the emphasis on reengineering in agricultural insurance. signs will surpass their counterparts. Ensuring the competitiveness of the insurance service depends on the level of satisfaction of policyholders in the received insurance coverage. Innovation in insurance services is manifested in the expansion of services with risky components; development of specific service packages for different groups of agricultural producers (in particular, small, medium and large). According to the results of the study, modern approaches to the formation of an effective insurance system in the agricultural sector of Ukraine are identified, the key of which are: improving the system of intermediary services in the agricultural market to strengthen the interaction of insurance companies with infrastructure entities mediation through the involvement of the latter in the mechanism of insurance services and in order to increase the coverage of insurance protection of agricultural producers; expanding the horizons of cooperation between companies working in the field of insurance protection of agricultural producers and companies providing the latter in the sale of insurance products, which cover the crop segment; establishing an active and lasting dialogue between participants of the insurance process, which is based on the principle of customer-oriented approach, based on which it is advisable to integrate the interests of a particular agricultural producer, related to the need for insurance protection. the need to attract IT technologies to the insurance system of the agricultural sector of the economy. Conceptual approaches to the formation of agro-insurance relations on the basis of innovative directions of using the potential of agro-insurance are reflected, which provide for the need to involve IT technologies in the system of insurance protection of the agricultural sector of the economy; building interaction between the structural elements of the market on the basis of quality management as a basis for ensuring the competitiveness of insurance services in the agricultural insurance market, and emphasizing reengineering in agricultural insurance.

scholarly journals PROBLEMS OF AGRICULTURAL INSURANCE IN UKRAINE AND WAYS THEIR SOLUTIONS

2020 ◽  
pp. 20-34
Author(s):  
Larysa VDOVENKO
Keyword(s):  
Agricultural Production ◽  
Agricultural Sector ◽  
Insurance Market ◽  
Insurance Companies ◽  
Agricultural Insurance ◽  
Agricultural Producers ◽  
Economic Interests ◽  
Current Trends ◽  
Term Insurance ◽  
High Degree

The article is dedicated to the current trends of the agricultural insurance market in Ukraine. It has been established that for silskogospodarske, in accordance with the specific features and skills of the middling community, the need for a proper insurance business from a variety of derivative businesses in the case of uncomfortable natural businesses of unfair natural businesses. It is established that the risks inherent in agricultural production are systemic and create significant fees for most agricultural producers at the same time, which can lead to large insurance payments, so there is a system of regulation of complex economic processes in agriculture is insurance of agricultural products. The analysis of the legislative and normative protection of insurance claims has been completed. The payments were made, which is one of the important incentives for effective government insurance. The main indicators of insurance activity are analyzed, the development trends of the regions of Ukraine are determined, the problems of insurance and agricultural insurance are considered in the context of the participants in the events. A copy was made for the inexplicable activation of agricultural insurance as a key to the growth of the potential of the agricultural sector of the economy. In addition, the system of agricultural insurance is based on the protection of economic interests of the participants of the insurance companies (insurers, insurance and powers) and the short-term insurance of small losses in the aeronautical spheres. Based on an improved agricultural insurance system, affordability, improving the quality of insurance services, forming an effective insurance market infrastructure, a high degree of trust in insurers by policyholders, diversification of insurance products by special industry, the state's ability to provide real financial support for agricultural production.

Tools of state regulation of the agricultural insurance market

Ekonomika APK ◽  
2021 ◽  
Vol 321 (7) ◽  
pp. 95-102
Author(s):  
Iryna Artimonova ◽  
Kateryna Tkachenko
Keyword(s):  
Research Methods ◽  
Agricultural Sector ◽  
Practical Experience ◽  
State Regulation ◽  
The State ◽  
Insurance Market ◽  
Practical Significance ◽  
State Support ◽  
Agricultural Insurance ◽  
Agricultural Producers

The purpose of the article is to develop practical recommendations for improving the tools of state regulation of the agricultural insurance market. Research methods. The research was based on general scientific research methods, scientific works of domestic and foreign economists on insurance in the agricultural sector of the economy, regulations and Internet resources. The application of the method of comparison, the monographic method in combination with the method of induction made it possible to systematize and generalize the foreign experience of state support for agricultural producers. Research results. The reasons for the need to improve the system of state regulation of the agricultural insurance market are systematized. The international practical experience of formation of systems of the state support of agricultural insurance is generalized. The normative-legal acts regulating relations in the field of insurance of agricultural products are considered. Emphasis is placed on existing programs to protect agricultural producers from the risks posed by the state. An assessment of the current state of the agricultural insurance market in Ukraine and identified prospects for its development using the tools of state regulation. Scientific novelty. It is proved that agricultural insurance is a new effective tool for state support of farmers in case of risks, which will help improve the economic performance of the agricultural sector of Ukraine. Practical significance. Measures to improve the instruments of state regulation of the agricultural insurance market are proposed. The introduction of state support for agricultural insurance will contribute to the growth of the domestic market of agricultural insurance, which will provide additional revenues to the state budget. Refs.: 13.

scholarly journals Insurance of agricultural products with state support in Ukraine: state, problems and prospects of development

2019 ◽  
pp. 53-62
Author(s):  
Liudmyla Chvertko ◽  
Oksana Vinnytska ◽  
Tetiana Korniienko
Keyword(s):  
Financial Support ◽  
Crop Insurance ◽  
The State ◽  
Agricultural Products ◽  
Insurance Market ◽  
State Support ◽  
Agricultural Insurance ◽  
Agricultural Producers ◽  
Economic Relations ◽  
Practical Recommendations

The purpose of the research is to substantiate the laws of development of agricultural insurance with state support in Ukraine, and provide a set of practical recommendations for implementation of insurance mechanisms for financial support of agriculture. Methodology. The theoretical and methodological basis of the research are the dialectical method of knowledge of economic processes, the fundamental provisions of modern economic theory, scientific works domestic and foreign scientists on economic relations between participants of the agricultural insurance market with state support for agricultural products. A systematic approach, methods of generalization, induction, deduction, analysis, synthesis and comparison were used to achieve this purpose. Results. The necessity and importance of using insurance mechanisms to mitigate risks for agricultural producers had been determined. The state of economic relations for the protection of property interests of agricultural producers had been reviewed in general, and trends in the development of subsidized crop insurance in the insurance market of Ukraine had been identified. The indicators of agricultural insurance and the amount of subsidies from the state budget allocated to reduce the cost of insurance premiums (contributions), which actually had been paid by actors of the agricultural market, had been analyzed. It was revealed that in 2005-2008 the introduction of state support for crop insurance had a positive impact on the performance of the agricultural insurance market, contributed to the popularization of this type of insurance in Ukraine, and positively affected protecting the interests of agricultural producers. The factors hindering the development of domestic crop insurance with state support were revealed. It had been proved that current level of penetration of this kind of insurance protection remains low and insufficient to guarantee the safety of business activities in the agricultural sector, the current model of agricultural state aid, provided by the Law of Ukraine “On peculiarities of crop insurance with state support”, was inefficient and therefore required reformation. The importance of improvements in state regulation, including implementation mechanisms of the existing legislation, and state policy of financial support had been substantiated. It was determined that the market model of crop insurance system in Ukraine should be based on the principles of public-private partnership. Practical meaning appears in the possibility of using theoretical conclusions and practical recommendations for the further development of agricultural insurance in general and crop insurance with state support in particular. Prospects for further research are identification and scientific substantiation of the ways of forming a reliable mechanism for insurance protection of property interests of agricultural producers, development and legislation of recommendations on the forms of effective interaction between the main participants in agricultural insurance – agricultural producers, insurance companies and government.

scholarly journals ANALYSIS OF THE CURRENT SITUATION OF INSURANCE MARKET AND CREDIT INSURANCE IN RA

World Science ◽  
2018 ◽  
pp. 46-49
Author(s):  
Gohar Voskanyan
Keyword(s):  
The Body ◽  
Insurance Market ◽  
Insurance Companies ◽  
Agricultural Insurance ◽  
Agricultural Credit ◽  
Credit Insurance ◽  
Compulsory Insurance ◽  
The Republic ◽  
The Stability ◽  
Almost All

The Armenian insurance market has undergone major changes in the transition to a market economy. Growth tendencies were observed in almost all insurance indicators. At present, the RA Central Bank is the body overseeing the financial system of RA. The positive shifts in the insurance market are partially conditioned by its activities. The article presents the main directions of the activities of insurance companies in RA. Insurance premiums and insurance indemnities have undergone comparative analysis. In a number of countries the insurance is one of the most important prerequisites for the provision of agricultural loans through which banks try to mitigate their credit risk. Agricultural insurance is not implemented in the Republic of Armenia, which negatively affects the stability and development of the sector. Taking into account the advantages of compulsory insurance and the current socio-economic conditions created in Armenia, the article recommends to implement compulsory insurance of agricultural credits. The necessity of introduction of credit insurance in the RA agrarian sphere has been justified, the reasons of non-implementation of agricultural credit insurance has been raised, and the main results expected when implementing agricultural credit insurance has been presented.

scholarly journals DEVELOPMENT OF AGRICULTURAL INSURANCE SYSTEM

2020 ◽  
Vol 1 (1) ◽  
pp. 1-7
Author(s):  
Yuliia Aleskerova
Keyword(s):  
Financial Stability ◽  
High Quality ◽  
Agricultural Insurance ◽  
Agricultural Producers ◽  
Insurance System ◽  
Economic Method ◽  
Effective Instrument ◽  
Insurance Mechanism ◽  
Methodological Principles ◽  
Definition Of

The purpose of the work is to substantiate theoretical and methodological principles and practical recommendations for defining the main landmarks, priority directions and the dominant components of the development of the agricultural insurance system. Agricultural insurance is an effective instrument for its financial support and ensuring the continuity of expanded reproduction, which promotes stabilization of production, ensuring the financial stability of agricultural producers and, thus, generates conditions for achieving the desired standard of living, food security of the state and the welfare of the population. The objectives of the study are: to consider genesis of views on the essence and role of the agricultural insurance system; to analyze the current contour of the agricultural insurance system; to substantiate the priority directions of development of the system of agricultural insurance. Method. The methodological basis of the study is the general economic method of ascending from abstract to concrete, theoretical achievements of domestic and world financial science, conceptual provisions of modern insurance theories. The research is based on the use of a systemic approach to the consideration of financial phenomena, on the fundamental positions of economic theory, system theory, theory of finance, insurance management, etc. Results. The concept of the development of the agricultural insurance system and its main implementation vectors determine the purpose, defining tasks is a more specific form of decision-making, requiring the elaboration of certain strategic measures. In this case these are to outline the criteria for evaluating the purpose, to determine the high-quality and quantitative characteristics of these criteria. High-quality characteristics are understood as a landmark and quantitative as a task. Value/originality. Improved theoretical and methodological approaches to the definition of the essence and structure of the agricultural insurance mechanism have allowed to propose conceptual provisions for the harmonization of the mechanism of agricultural insurance, this will allow to take into account the inquiries, interests and financial opportunities of agricultural producers comprehensively in order to minimize adverse effects of agricultural risks depending on the intensity and level of their manifestation, on the basis of which a bunch of effective measures is developed, which allows to ensure the leveling of threats and the dynamism and flexibility of the system, which will facilitate the provision of insurance protection of agricultural produces and increase of export potential of agriculture.

Catastrophic Risk, the Disequilibrium of Agricultural Insurance Markets and Reinsurance - Based on the Data from Hubei

2013 ◽  
Vol 798-799 ◽  
pp. 846-850
Author(s):  
Hui Ru Xing ◽  
Jiang Ping Tao ◽  
Wei Zhao
Keyword(s):  
Agricultural Production ◽  
Insurance Market ◽  
Insurance Companies ◽  
Insurance Markets ◽  
Insurance Risk ◽  
Agricultural Insurance ◽  
The Sustainable Development ◽  
Catastrophic Risk ◽  
Risk Transfer ◽  
Transfer Mechanisms

Catastrophic risk existing objectively in agricultural production is the main cause for the imbalance of the agricultural insurance markets, and to promote the sustainable development of the agricultural insurance, it is necessary to improve the agricultural insurance risk transfer mechanisms. Under the condition of farms and insurance companies expected utility maximum, we develop an agricultural insurance market equilibrium model based on the M-V preference function, and then demonstrate that catastrophic risk leads to the imbalance in the agricultural insurance market. Insurance companies involved in reinsurance arrangements helps rectify the imbalances in agricultural insurance market. Based on this analysis we verify the development of Hubeis agricultural insurance market, and then simulate the reinsurance arrangement of Hubei agricultural insurance. The theoretic and empirical analysis has an implication for the design of agricultural insurance catastrophe risk transfer tools.

scholarly journals The methodology of the business processes management in the agricultural insurance market

2016 ◽  
Vol 38 (2) ◽  
pp. 155-167
Author(s):  
Oleksandr Vilenchuk
Keyword(s):  
Process Management ◽  
Business Processes ◽  
Insurance Market ◽  
Insurance Companies ◽  
Agricultural Insurance ◽  
Economic Interests ◽  
Investment Environment ◽  
Organization And Management ◽  
Rational Allocation ◽  
Process Methodology

Formation of a favorable investment environment in the market of agricultural insurance is possible with the organization and use of the business processes by insurance companies to provide insurance protection for farmers. The problem of research is the need to increase the motivation of insurers and policyholders to the implementation of the existing interests of their insurance through the mechanism of activation of business processes in the market of agricultural insurance .The objective of research is to justify modern methods of business process management of the insurer for the rational allocation of risks and responsibilities among all the participants of the insurance process. Methodology of research is based on generally accepted methods and techniques of organization and management, interrelated business processes of the insurer from its design till implementation, based on equivalent financial and economic interests of participants of the insurance market. The research results confirm the need for differentiation of concepts "value" and "utility" in the system of insurance relations, as well as the adaptation of the proposed simulation model for managing business processes for all agricultural insurance entities.

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