CURRENT STATUS OF FINANCIAL RISKS INSURANCE IN UKRAINE

2018 ◽  
Vol 8 (2) ◽  
pp. 118-122
Author(s):  
Olena Panchenko
Keyword(s):  
Financial Risk ◽  
Insurance Market ◽  
Current Status ◽  
Financial Risks ◽  
Present Stage ◽  
The Status ◽  
Key Indicators ◽  
Financial Transactions ◽  
Risk Insurance

A set of relationships, which are formed in the process of financial risks insurance in Ukraine at the present stage, is researched within the article. When considering the organization of insurance protection of financial transactions, the features of financial risk insurance and deficiencies in its classification were identified. The analysis of the status of financial risks insurance is carried out taking into consideration the author's approach to the classification of insurance services, which prevents existing misunderstandings. The analysis of financial risk insurance is based on the study of the dynamics of key indicators, which characterize the existing situation in the insurance market. Such indicators are insurance premiums, insurance payments and the level of insurance pay-ments. Based on the analysis, problems of financial risks insurance as the most controversial and imperfect type of insurance in the insurance market of Ukraine are identified and ways to improve its organization are offered.

scholarly journals Method Development to Assess the Enterprise Financial Risks

2019 ◽  
Vol 9 (2) ◽  
pp. 1540-1543
Keyword(s):  
Risk Assessment ◽  
Financial Risk ◽  
Method Development ◽  
Qualitative Assessment ◽  
Financial Risks ◽  
Risk Event ◽  
Risk Areas ◽  
Financial Transactions

The activities of the enterprise are associated with financial risks, the management of which is considered mandatory to ensure sustainable and efficient functioning. Underestimation or reassessment of financial risks can lead to financial losses; therefore, the result of the organization’s risk management depends on the quality of the financial risk assessment. The article presents: the concept of “financial risk” formulated by the authors; classification of financial transactions by risk areas; the developed methodology for assessing financial risks is presented, consisting of two successive stages (calculating the amount of damage and calculating the probability of occurrence of financial risk after identifying a risk event; the developed methodology for monitoring financial risks and calculating the residual value of financial risk is presented; the developed methods for quantitative and qualitative assessment of financial risks are presented; a methodology for determining the development of scenario analysis of financial risk assessment is presented.

THE METHODOLOGICAL VALUE OF THE CLASSIFICATION IN THE COMPANY FINANCIAL RISK MANAGEMENT SYSTEM

2020 ◽  
Author(s):  
A.A. Fathulin ◽  
N. A. Fathulina ◽  
S. N. Basova
Keyword(s):  
Risk Management ◽  
Management System ◽  
Financial Risk ◽  
Methodological Approach ◽  
Financial Risks ◽  
Risk And Uncertainty ◽  
Financial Risk Management ◽  
Risk Management System

The complexity of understanding the nature of risks, as well as the diversity of their types and manifestations, including financial risks, requires the use of a methodological approach to their classification. Classification of financial risks is of particular importance in the company's activities in order to effectively manage them. The article analyzes the concepts of "risk" and "uncertainty", and provides risk classifications for various reasons. It is concluded that it is possible to control and manage risks through comprehensive accounting and, accordingly, prevention of various types of threats and uncertainties in the company's activities.

scholarly journals The Peculiarities of Foreign Exchange and Insurance Markets

Economics ◽  
2021 ◽  
Vol 104 (3-5) ◽  
pp. 28-40
Author(s):  
Khatuna Shalamberidze Khatuna Shalamberidze ◽  
Nana Benidze Nana Benidze
Keyword(s):  
Foreign Exchange ◽  
Financial Market ◽  
Financial Risk ◽  
Insurance Markets ◽  
Exchange Rate Risk ◽  
Financial Risks ◽  
Foreign Exchange Risk ◽  
Exchange Risk ◽  
The Right ◽  
Risk Insurance

Foreign exchange risk is one of the most important components of the financial market. Like any other financial risk, it can be managed or avoided. Financial risk management requires the relevant knowledge and resources and only specialized financial institutions are engaged in doing so. Thee commercial banks do not accept foreign exchange risks, their assets and liabilities are denominated in the same currency. Therefore, it is recommended for households and businesses to avoid the currency risk. People's behavior is different during the sharp fluctuations of exchange rates. There is no ideal tactic for behavior. However, we would like to share some basic tips to help you reduce your expected financial risks; At the same time, the undesirable attitude characteristic of the period of strong fluctuations in the course will become clearer and more preventive. We hope that the information presented in such circumstances will help you to make the right decision. Keywords: Foreign exchange and insurance market efficiency; Exchange rate risk insurance; Involvement of financial instruments.

scholarly journals The Peculiarities of Foreign Exchange and Insurance Markets

Economics ◽  
2021 ◽  
Vol 104 (3-5) ◽  
pp. 28-40
Author(s):  
Khatuna Shalamberidze Khatuna Shalamberidze ◽  
Nana Benidze Nana Benidze
Keyword(s):  
Foreign Exchange ◽  
Financial Market ◽  
Financial Risk ◽  
Insurance Markets ◽  
Exchange Rate Risk ◽  
Financial Risks ◽  
Foreign Exchange Risk ◽  
Exchange Risk ◽  
The Right ◽  
Risk Insurance

Foreign exchange risk is one of the most important components of the financial market. Like any other financial risk, it can be managed or avoided. Financial risk management requires the relevant knowledge and resources and only specialized financial institutions are engaged in doing so. Thee commercial banks do not accept foreign exchange risks, their assets and liabilities are denominated in the same currency. Therefore, it is recommended for households and businesses to avoid the currency risk. People's behavior is different during the sharp fluctuations of exchange rates. There is no ideal tactic for behavior. However, we would like to share some basic tips to help you reduce your expected financial risks; At the same time, the undesirable attitude characteristic of the period of strong fluctuations in the course will become clearer and more preventive. We hope that the information presented in such circumstances will help you to make the right decision. Keywords: Foreign exchange and insurance market efficiency; Exchange rate risk insurance; Involvement of financial instruments.

STATE OF CONCENTRATION AND MONOPOLIZATION OF THE INSURANCE MARKET OF UKRAINE

2021 ◽  
Vol 1 (21(49)) ◽  
pp. 10-18
Author(s):  
Anna Novoseletska
Keyword(s):  
Life Insurance ◽  
Insurance Market ◽  
Insurance Companies ◽  
Market Development ◽  
Property Insurance ◽  
Insurance Group ◽  
Key Indicators ◽  
Risk Insurance ◽  
Financial Groups

The intensity and quality of insurance market development are directly related to the level of competition, concentration and monopolization between insurance companies. Although the insurance market of Ukraine is insignificant in terms of key indicators in comparison with foreign ones, the competitiveness of its insurers is very important to ensure proper insurance protection of policyholders. The article is devoted to the assessment of the processes of concentration and monopolization of the insurance market of Ukraine. The study analyzed the structure of the insurance market by segments, concentration indicators and the Herfindahl-Hirschman index for the market as a whole and for individual types of insurance, gradation of insurance companies by the amount of collected insurance premiums. Based on the assessment, it was determined that the insurance market of Ukraine is generally low concentrated, as well as the sector of risky types of insurance. Among the selected segments of the insurance market, the most concentrated is the CASCO insurance. In the field of health insurance there is a slightly lower level of concentration and monopolization as in the OTSPVVNTZ segment. The market of classical property insurance is the least concentrated. The life insurance segment is characterized by moderate concentration and monopolization. The most powerful insurance companies in the relevant sectors of the insurance market of Ukraine are outlined. Since 2015, the top three leaders of the life insurance market are PJSC “MetLife”, PJSC “Insurance Group TAS” and PJSC “IC UNIСA LIFE”. Virtually unchanged leaders in the field of risk insurance during 2018-2020 were PJSC “IC ARX”, PJSC “IC UNICA” and PJSC “Insurance Group TAS”, which are members of financial groups that include leaders of the life insurance market. In general, the national insurance market is becoming more concentrated, which will be appropriate and accepted benefits while strong market players will not involve their residents, and the state controls these processes.

scholarly journals The Peculiarities of Foreign Exchange and Insurance Markets

Economics ◽  
2021 ◽  
Vol 104 (3-5) ◽  
pp. 28-40
Author(s):  
Khatuna Shalamberidze Khatuna Shalamberidze ◽  
Nana Benidze Nana Benidze
Keyword(s):  
Foreign Exchange ◽  
Financial Market ◽  
Financial Risk ◽  
Insurance Markets ◽  
Exchange Rate Risk ◽  
Financial Risks ◽  
Foreign Exchange Risk ◽  
Exchange Risk ◽  
The Right ◽  
Risk Insurance

Foreign exchange risk is one of the most important components of the financial market. Like any other financial risk, it can be managed or avoided. Financial risk management requires the relevant knowledge and resources and only specialized financial institutions are engaged in doing so. Thee commercial banks do not accept foreign exchange risks, their assets and liabilities are denominated in the same currency. Therefore, it is recommended for households and businesses to avoid the currency risk. People's behavior is different during the sharp fluctuations of exchange rates. There is no ideal tactic for behavior. However, we would like to share some basic tips to help you reduce your expected financial risks; At the same time, the undesirable attitude characteristic of the period of strong fluctuations in the course will become clearer and more preventive. We hope that the information presented in such circumstances will help you to make the right decision. Keywords: Foreign exchange and insurance market efficiency; Exchange rate risk insurance; Involvement of financial instruments.

scholarly journals The Current Status of Administrative and Legal Regulation of the Activities of Specially Authorized Entities in the Field of Combating Corruption in Ukraine

2020 ◽  
Vol 90 (3) ◽  
pp. 177-186
Author(s):  
В. І. Стреляний
Keyword(s):  
Legal Status ◽  
Legal Regulation ◽  
Current Status ◽  
Public Agencies ◽  
Public Authorities ◽  
Police Agencies ◽  
The Status ◽  
The Law ◽  
National Police

The author has revealed the content of the term of “specially authorized entities in the field of combating corruption” contained in Part 1 of the Art. 1 of the Law of Ukraine “On Prevention of Corruption”. By analyzing the current administrative legislation of Ukraine, the range of public authorities that fall under this concept has been identified. Based on the classification of public authorities existing in administrative science, which are divided into agencies of general and special competence, the author has provided recommendations to improve the list of those public agencies that have the status of specially authorized entities in the field of combating corruption. According to the results of the study, the author has formulated an exhaustive list of specially authorized entities in the field of combating corruption in Ukraine, has provided propositions to improve the provisions of the Law of Ukraine “On Prevention of Corruption” and the Law of Ukraine “On Prosecutor’s Office” in regard to the administrative and legal status of the Specialized Anti-Corruption Prosecutor’s Office. The author has offered to amend Part 1 of the Art. 7 of the Law of Ukraine “On the Prosecutor’s Office”, supplementing it with the word “agencies” after the word “system” and before the word “prosecutor’s office”. Thus, this norm will look like this: “the system of agencies of prosecutor’s offices will consist of: 1) Attorney General’s Office; 2) prosecutor’s offices in oblasts; 3) regional prosecutor’s offices; 4) Specialized Anti-Corruption Prosecutor’s Office. It has been established that only the Specialized Anti-Corruption Prosecutor’s Office can be recognized as a specially authorized entity in the field of combating corruption among the existing prosecutor’s offices. In this regard, the application of the term of “agencies of prosecutor’s office” in Part 1 of the Art. 1 of the Law of Ukraine “On Prevention of Corruption” is not grounded and leads to a false expansion of the range of anti-corruption entities. In practice, this may lead to an ambiguous interpretation of this legal norm. In this regard, the author has offered to specify the range of prosecutorial agencies that are specially authorized entities in the field of counteraction by replacing the phrase “agencies of prosecutor’s office” with the phrase “Specialized Anti-Corruption Prosecutor’s Office”. It has been determined that either the National Police of Ukraine or its separate agencies are not specially authorized entities in the field of combating corruption. In this regard, it has been offered to amend Part 1 of the Art. 1 of the Law of Ukraine “On Prevention of Corruption” by replacing the phrase “National Police” with the phrase “National Police Units”. Thus, those structural subdivisions of the National Police agencies that exercise competence in the field of combating corruption may be recognized as specially authorized entities in the field of anti-corruption.

scholarly journals INSURANCE OF FINANCIAL RISKS OF BUSINESS ENTITY: FROM THEORY TO PRACTICE

2017 ◽  
pp. 151-158
Author(s):  
Tetiana Pysmenna
Keyword(s):  
Economic Activity ◽  
Financial Risk ◽  
Insurance Companies ◽  
Financial Risks ◽  
Material Loss ◽  
Insurance Premiums ◽  
Insurance Rate ◽  
The Subject ◽  
Actual Damage ◽  
Risk Insurance

The subject of the study is the theoretical and practical principles of insurance of financial risks of the subject of economic activity. The purpose of the study is to substantiate the theoretical foundations and analyse the practice of financial risk insurance of the entity. It is established that the essence of insurance of financial risks can be formulated in different ways. Often, under this notion we consider the protection of the property interests of the entity in the event of financial risks in its activities, which is carried out at the expense of the insurance company's funds formed from insurance premiums. In the implementation of financial risks, an entity may suffer material loss in the form of actual damage or loss of profit. The tendencies of development of insurance of financial risks in the market of insurance services of Ukraine are determined. They are affected by the change in the volume of gross and net insurance premiums and insurance premiums on insurance of financial risks. On the basis of the assessment of the level of gross and net insurance payments, the insurance of financial risks is classified as a profitable type of insurance to a certain extent. The main types of insurance of financial risks of the subject of economic activity are described. At the domestic insurance market, insurance companies practice loan insurance, insurance guarantees and investment insurance. Each type of insurance of financial risks is carried out in order to protect the property interests of the entity in the event of various insurance incidents. For each type of insurance of financial risks, the insured amount, insurance rate, insurance payment and insurance indemnity must be established. It is concluded that the issue of financial risk insurance needs further research in the consideration of other types of financial risk insurance of the entity.

scholarly journals Financial risks of the stock market: opportunities and specifics of their insurance

2019 ◽  
Vol 10 (1) ◽  
pp. 26-35 ◽  
Author(s):  
Inna Shkolnyk ◽  
Eugenia Bondarenko ◽  
Ievgen Balatskyi
Keyword(s):  
Stock Market ◽  
Financial Risk ◽  
Financial Institution ◽  
Emerging Market ◽  
Insurance Coverage ◽  
Risk Level ◽  
Financial Risks ◽  
Insurance Sector ◽  
Business Entities ◽  
Risk Insurance

The Ukrainian stock market is rated as an emerging market, which is characterized by high profitability and higher risk level as compared to developed economies. Securities transactions on the Ukrainian stock market are accompanied by stable uncertainties. Moreover, insurance is the most effective way to reduce financial risks and their negative effects. Given the current economic and political instability, financial risk insurance can ensure the economic performance of business entities and stimulate their further economic development. Financial risk insurance is the liability insurance in its nature, but its terms are often included in property insurance. This insurance sector has considerable facilities, which require activation of new insurance products that will be able to protect individual and institutional investors. Insurance and stock markets are direct competitors for limited investor resources, including strategic sources such as temporarily free institutional investor funds and household savings. In general, although there is a significant interaction between the insurance and other financial markets in Ukraine, it is hardly realized at all, unlike foreign economies, where it is used to its maximum. With the development of the insurance culture of the population and insurance in general, the relevance of insurance services in a high-risk segment like the stock market increases. The article harmonizes types of financial risks arising on the stock market with the methods of their leveling (insurance, hedging, diversification, etc.), determines the risk factors of the investor in the stock market, and specifies the professional risks of financial institutions. For the Ukrainian stock market participants, the use of two types of insurance coverage, namely, Bankers Blanket Bond and Financial Institution Professional Indemnity, is proposed.

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