THE IMPORTANCE OF SERVICES OF INSURANCE IN LATVIAN ECONOMY Cover Image

THE IMPORTANCE OF SERVICES OF INSURANCE IN LATVIAN ECONOMY
THE IMPORTANCE OF SERVICES OF INSURANCE IN LATVIAN ECONOMY

Author(s): Svetlana Polovko
Subject(s): National Economy, Transformation Period (1990 - 2010), Financial Markets
Published by: Masarykova univerzita
Keywords: Insurance; gross domestic product; national economy; life insurance; non-life insurance; insurance company;
Summary/Abstract: Insurance is one of the major, but the least studied branches of economy. Insurance services appeared a long time ago. The main aim of insurance is to satisfy various requirements of people who need insurance protection in various emergency situations. The article considers the economic nature of insurance consisting of available special relations of income distribution, which are created on the basis of premiums paid by the insured. These premium payments are used for covering losses and paying compensations in case of the occurrence of the insured event.

  • Page Range: 226-230
  • Page Count: 5
  • Publication Year: 2010
  • Language: English