Abstract:

In modern conditions, the danger of harmful results of all kinds of adverse circumstances related to the development of scientific and technological progress and the increased risk of losses related to entrepreneurial activity is growing, the value of the financial relations industry, namely insurance, is significantly increasing. Insurance is designed to protect the interests of legal entities and citizens in the event of any kind of harm due to the influence of adverse factors that are objective in nature. At the current stage of the progress of market relations, in addition to the traditional purpose of insurance, namely the desire to protect policyholders from natural hazards, unintended environmental and technological actions, a new one is being fixed: insurance of such objects as property interests related to compensation of property or person damage caused by the insured . It is through insurance that a person fulfills his most important need - the need for security. As a result of this, the functioning of such an element of the financial market as the insurance services market acquires specific relevance.