Open AccessThe problem of risk protection in agriculture of Ukraine
Author(s) -
I. L. Sazonets,
Sergey Yekimov,
Viktoriia Nianko,
Liudmyla Melnyk,
Ruslan Pushko
Publication year - 2021
Publication title -
iop conference series. earth and environmental science
Language(s) - English
Resource type - Journals
SCImago Journal Rank - 0.179
H-Index - 26
eISSN - 1755-1307
pISSN - 1755-1315
DOI - 10.1088/1755-1315/848/1/012175
Subject(s) - reinsurance , business , risk pool , agriculture , solvency , ukrainian , general insurance , casualty insurance , key person insurance , actuarial science , insurance policy , investment (military) , insurance law , payment , finance , ecology , linguistics , philosophy , politics , market liquidity , political science , law , biology
An important specific feature of risk insurance in the agricultural business is the possibility of systemic risks, which are characterized by large amounts of loss-making for agricultural enterprises. In this case, the amount of insurance premiums received by insurers may significantly exceed the amount of their insurance payments. In our opinion, the insurance products offered by Ukrainian insurers in the field of agricultural insurance do not fully meet the needs of consumers. The main problems of Ukrainian insurance organizations providing services in the field of agricultural insurance are the low level of solvency of agricultural enterprises, as well as inflationary processes that make long-term agricultural insurance contracts concluded in the national currency of little demand. The evolutionary development of the Ukrainian insurance market for agricultural risk insurance, in our opinion, should correlate with the development of reinsurance of these risks. This will make it possible to balance the insurance portfolios of insurance companies and provide insurers with additional opportunities for their investment activities. The creation of a specialized national reinsurance company for reinsurance of agricultural risks, in our opinion, will improve the insurance coverage of Ukrainian agricultural enterprises.