Trends in the Development of the Agricultural Insurance Market in Ukraine

Abstract

The aim of the article is to identify the promising directions in reforming the agricultural insurance market on the basis of studying its current state and consideration of the major development problems. The article analyzes the current state of the agricultural insurance market in Ukraine. It is proved that this segment of the insurance market has a tendency to slow reduction, as all the major insurance indicators in the dynamics for the past four years have a decreasing character. In spite the difficult macroeconomic situation in the country, agricultural insurance market proves its vitality and potential for further development. On the basis of the identified trends in the development of insurance of agricultural risks the problems hampering further effective functioning of the market are described. There suggested directions in reforming the national agricultural insurance market, in particular, the introduction of new programs of insurance protection with reinsurance guarantee, accelerated development of measures on insurance protection of investing and crediting. Also the agricultural insurance market requires efforts by the government aimed at its support: the introduction of changes in the active legislation and their enforcement mechanisms.

Keywords

• agricultural insurance market
• government subsidy