INTERACTION OF INSURANCE MARKET STAKEHOLDERS ON THE BASIS OF THE STATE-PRIVATE PARTNERSHIP

Abstract

The main approaches to the organization of the agrarian insurance market functioning on the basis of public-private partnership are investigated. Based on the experience of foreign countries, the key benefits for the state, insurance companies and insurers are reflected from their interaction in the insurance process. There are three main stages of partnership implementation between the state and subjects of insurance business in the agrarian sector. The first stage provides the formation of a legal framework for a public-private partnership model in the field of agrarian insurance. At the second stage defines the main criteria, conditions and rules of interaction between the public-private partnership subjects in the field of agrarian insurance. The third stage is related to the need to motivate the subjects to activate their insurance activities within the framework of the partnership relationship between the state authorities and the insurance business. According to the forecasting results of the insured area for 2019-2023, it was established that if state subsidies are used to cover a part of the insurance payment cost, the of the property protection level of agricultural producers will increase, much more rapidly than in the absence of such support. The necessity in the framework of public-private partnership realization is substantiated. The strengthening of socioeconomic (availability of insurance interest, assortment, availability and price flexibility in insurance services), ethical (trust in insurance, service and quality of insurance services) and institutional (current legislation observance, modern infrastructure development, services diversification for classical and index insurance types) stakeholder's responsibility of the insurance market.

Keywords

• agrarian insurance
• public-private partnership
• agricultural risks
• stakeholder
• insurance market