№ 2015/4
Economy under the conditions of modern transformations
SHIRINYAN L. 1
1National University of Food Technologies (Kyiv)
Financial provision of preventive measures in insurance
ABSTRACT ▼
Preventive measures in insurance are interpreted as a set of measures related to reducing the degree of risk of the insurance object, and averting or decreasing the negative impact of possible insurance accidents on the insurance market participants. The implementation of the preventive function is based on the use of such tools as: payments to the purpose funds and reserves for preventive measures, targeted grants from the state budget, state subsidies and purpose assistance. On the Ukrainian insurance market these tools are not implemented and the problem needs to be discussed. In this study, we propose financial providing for preventive measures through a compulsory fund based on public-private partnership. Calculation of the annual contributions to such a public-private fund for preventive measures gives an estimated value of about 160 million hryvnias per year. It has also been offered that each insurer should create his own reserve of preventive measures or should contribute to the fund of insurance guarantees and preventive measures created on the level of insurers' associations in order to prevent loss events and to ensure the return of deposits to depositors of bankrupted insurance companies.
Keywords: preventive measures, financial provision, public-private fund, cash forecasting, factors of influence on the market participants
JEL: C13, С40, С53, E02; G17, G22, G23; L22
Article in Ukrainian (pp. 69 - 80) | Download | Downloads :686 |
REFERENCES ▼
1. Shirinyan, L. V. (2014). Financial regulation of insurance market of Ukraine: theory and practice problems. Kyiv: Vydavnytstvo "Tsentr uchbovoi literatury" [in Ukrainian].
2. Law of Ukraine "On implementation of changes of Law of Ukraine "On Insurance"", dated 04.10.2001 No 2745-III. Retrieved from
zakon3.rada.gov.ua/laws/show/357-16 [in Ukrainian].
3. Baranova, V. H. (2010). Financial mechanism of the insurance system of Ukraine: problems of function and development. – manuscript. Dissertation on the receipt of scientific degree of doctor of economic sciences after specialty 08.00.08 – Money, Finances and Credit. Odesa: Odessa State Economic University [in Ukrainian].
4. Vremenko, L. V., Korvat, O. V. (2009). Modern tools of prudential supervision of an insurance activity. Ekonomika Rozvytku - Economics of Development, 2, 26–29 [in Ukrainian].
5. Reznik, N. N. (1998). Insurance as a preventive measure of prevention of industrial injuries. Visnyk Ukrainskoi akademii bankivskoi spravy - Bulletin of Ukrainian Academy of Banking, 4, 53–54 [in Ukrainian].
6. Zhabinets, O. Y. (2009). Preventing of insurance frauds as one of the factors of insurer's economic security. Naukovyi visnyk Lvivskoho derzhavnoho universytetu vnutrishnikh sprav - Bulletin of Lviv State University of Internal Affairs, 1, 121–126 [in Ukrainian].
7. Shumelda, Ya. (2004). The elimination of insurance damages plus the detection of insurance crimes: European experience. Strakhova Sprava - Insurance Business, 3, 74–77 [in Ukrainian].
8. Zhilkina, M. S. (2005). Insurance fraud: legal assessment, practice of detection and methods of preclusion. Moskow: Volters Kluver [in Ukrainian].
9. Kuzminov, S. V. (2009). Merger possibilities of public and private properties in joint enterprises. Yevropeiskyi vektor ekonomichnoho rozvytku - Europen vector of Economic Development, 2 (7), 58–67 [in Ukrainian].
10. Pidhaiets, S. (2011). The European experience of implementation of models of public-private partnerships. Zhurnal Yevropeyskoi Ekonomiky - Journal of the European economy, 10 (3), 291–305 [in Ukrainian].
11. The Law of Ukraine "On public-private partnership" dated 01.07.2010 No 2404-VI. Retrieved from
zakon4.rada.gov.ua/laws/show/2404-17 [in Ukrainian].
13. The official website of the National Commission for State Regulation of Financial Services Markets of Ukraine. Retrieved from
nfp.gov.ua/content/informaciya-pro-stan-i-rozvitok.html [in Ukrainian].
14. Law of Ukraine "On obligatory insurance of civil liability of owners of surface vehicles" dated 01.07.2004 No 1961-IV. Retrieved from
zakon2.rada.gov.ua/laws/show/1961-15 [in Ukrainian].
15. Legislation on Guaranty Fund of insurance payout on life insurance agreements. Official web-portal of Verhovna Rada of Ukraine. Retrieved from
w1.c1.rada.gov.ua/pls/zweb2/webproc4_1?pf3511=52410 [in Ukrainian].