Functioning of Insurance Protection System in the Agrarian Sector of Economy in Ukraine

Abstract:

The article presents the findings of the research into specific features of the insurance protection of agrarian enterprises in the economy of Ukraine. Structural specific features of establishing agrarian insurance market in Ukraine were defined, the mono-component character of the market is revealed taking into account that it is represented only by the system of insurance of agricultural and perennial crops (with the dominance of field crops). Whereas insurance of livestock is used to achieve other objectives, not related to insurance protection. It has been established that the government support of the agrarian insurance market at a current stage has a declarative character, which negatively affects the dynamics of its development under conditions of voluntary insurance contract conclusion and limited supply of insurance products, presented only by classical (traditional) types. It has been noted that there is a tendency to expand the range of insurance services for agricultural producers. Innovation insurance products, being widely used in international practices due to their simplicity and availability, in particular in the context of index and specific insurance schemes, are practically not presented at the Ukrainian agricultural insurance market, which creates the potential for its further development.

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