Associations of Insurance Companies as a Factor of Self-Regulation in the Insurance Market of Ukraine
Kryvoshlyk T. D.

Kryvoshlyk, Tetiana D. (2018) “Associations of Insurance Companies as a Factor of Self-Regulation in the Insurance Market of Ukraine.” The Problems of Economy 4:247–253.
https://doi.org/10.32983/2222-0712-2018-4-247-253

Section: Finance and banking

UDC 368.03:005.72:334.7(477)

Abstract:
The aim of the article is to study the current status of associations of insurance companies in Ukraine and substantiate their role in the self-regulation of the insurance market. The necessity of creating associations of insurers is grounded. The current status of associations of insurance companies in the insurance market of Ukraine is analyzed. Furthermore, there identified their types, characteristics, and properties, which served as a basis for formulating the definition of associations of insurance companies as specialized non-profit organizations created by insurers in accordance with the requirements of legislation or on a voluntary basis for the purpose of coordinating their activities, representing and protecting the interests of its members, implementing joint programs, cooperating with government and local self-government bodies, Ukrainian and international organizations, promoting the development of the insurance industry. It is noted that most of the associations of insurance companies currently existing in Ukraine are active and well-known. The attention is focused on the fact that part of the associations of insurers ceased their activity, despite the need for them, which negatively affects the level of insurance protection of the society and the development of the insurance market. A classification of associations of insurance companies is developed based on such criteria as types of coordination of activities (it is proposed to divide them into general and specialized ones), form of participation (mandatory and voluntary), territorial basis (all-Ukrainian and regional ones). Based on analyzing the statutory activities of associations of insurers, their common primary tasks are highlighted. There identified factors of self-regulation of the insurance market based on associations of insurance companies.

Keywords: insurance, insurance company, associations of insurance companies , insurance market, self-regulation.

Fig.: 1. Bibl.: 11.

Kryvoshlyk Tetiana D. – Candidate of Sciences (Economics), Associate Professor, Professor, Department of Insurance, Kyiv National Economic University named after Vadym Hetman (54/1 Beresteiskyi Ave., Kyiv, 03057, Ukraine)
Email: tatiana.dk@ukr.net

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