Integration of the market of insurance services in the global financial space
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Дата
2020
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Назва журналу
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Назва тому
Видавець
KNUTE
Анотація
Relevance of research. Insurance sector is an important part of the financial
system and a tool for economic growth in all developed countries. Insurance s erves as
risk management tool for business and households, as it helps to minimize the impact
of unexpected financial losses. It also ensures financial stability by providing long-term investment in the economy, as insurance premiums, accumulated by insura nce
companies, can be used as credit and investment resources. Considering the continuous
economic and political instability, insurance is especially relevant for the participants
of economic activities in Ukraine as a mean for protection from negative fac tors and
potential threats. Given Ukraine's course towards European integration, it is essential
to bring the domestic insurance market to international standards and successfully
integrate it in the global financial space, which explains the need for the study.
Conceptual principles of functioning of the insurance services market are
covered in the works of such authors as: O. Zhuravka [9], V. Vyhovska [6], O. Vovchak
[6], O. Stoyko [26] and D. Dema [8]. The scientific works of such scientists as L.
Nechiporuk [14], O. Kozmenko [13], N. Fedorova [30] and others are devoted to the
study of theoretical and practical problems of integration of the domestic insurance
market into the global financial space. However, considering the developments
occurring in the field of insurance in Ukraine and constant changes of the economic
environment, further research into the theories and practices of the insurance market
continues to be relevant, which led to the choice of the topic of this research,
determined its purpose and objectives.
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