INTERDEPENDENCE OF INSURANCE NEED AND DEVELOPMENT INSURANCE MARKETS
INTERDEPENDENCE OF INSURANCE NEED AND DEVELOPMENT INSURANCE MARKETS

Summary/Abstract: On the one hand, the insurance market is no different from other markets, as it has market entities, supply, demand, price and "product" (sale of security). Still, on the other hand, it is specific in relation toall other markets; the market subject to sale is a risk that may or may not be realized in the future.Insurance is a form of risk management, primarily moderate to reduce financial losses or transfer of riskfrom the insured to the insurance company, with insurance premium payment. The security market has itsown branch institutional network consisting of: companies (important factors in the global financialeconomy), intermediaries (brokers), insurance agents (banks, companies), directorates for businesssupervision of insurance organizations, professional associations (insurance associations), the associationof actuaries, etc. In addition to them, an important place belongs to the individuals and legal entities likeinsured objects. This topic has been insufficiently researched in practice, so the authors consider itimportant

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