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Modern Trends in the Development of the Pan-European Agrarian Insurance Market: Opportunities and Prospects for Ukraine
Vilenchuk O. M., Savytska A. S.

Vilenchuk, Oleksandr M., and Savytska, Anastasiia S. (2024) “Modern Trends in the Development of the Pan-European Agrarian Insurance Market: Opportunities and Prospects for Ukraine.” Business Inform 4:253–259.
https://doi.org/10.32983/2222-4459-2024-4-253-259

Section: Finance, Money Circulation and Credit

UDC 368:338.43

Abstract:
Under martial law on the territory of Ukraine, insurance of agricultural products becomes particular relevance, since the danger of losing future crops is scaled not only due to the traditional hazards (agronomic, natural and climatic, financial and economic, etc.), but also due to the presence of wartime risks. The scientific novelty of the presented article lies in the substantiation of the expediency of further development of agrarian insurance in Ukraine, taking into account the global experience and European experience in particular. The article identifies the key problems that impede the functioning of the agrarian insurance market in Ukraine. Based on the results of the study, a comparative analysis of the existing models of functioning of agrarian insurance markets in the countries of the European Union is carried out, their advantages and disadvantages are substantiated. The importance of insurance for a sustainable development of agribusiness and ensuring the country’s food security is emphasized. Summarizing the current trends in the pan-European agrarian insurance market, the authors of the article emphasize the expediency of diversification of insurance protection of agricultural producers by expanding the range of insurance services (microinsurance, index and classic insurance). On the basis of a generalization, an analysis of the key parameters of the development of the agrarian insurance market in Ukraine for 2019–2022 is carried out, the authors’ proposals aimed at forming a model of public-private partnership are formulated, the expediency of strengthening social responsibility and increasing the stability of communication links between stakeholders of the agrarian insurance market, as well as ensuring comprehensive digitalization of the insurance process, is substantiated. The implementation of these measures is considered in the context of adaptation of the national agrarian insurance market to the pan-European insurance space.

Keywords: agrarian insurance, losses, food security, insurance market, insurers, agricultural risks, subsidies.

Fig.: 2. Tabl.: 2. Bibl.: 11.

Vilenchuk Oleksandr M. – Doctor of Sciences (Economics), Associate Professor, Professor, Department of Finance and Credit, Polissia National University (7 Staryi Blvd, Zhytomyr, 10008, Ukraine)
Email: [email protected]
Savytska Anastasiia S. – Masters Student, Polissia National University (7 Staryi Blvd, Zhytomyr, 10008, Ukraine)
Email: [email protected]

List of references in article

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Singh, K., and Misra, M. “The evolving path of CSR: toward business and society relationship“. Journal of Economic and Administrative Sciences, vol. 38, no. 2 (2021): 304-332. DOI: https://doi.org/10.1108/JEAS-04-2020-0052
Skydan, O. et al. “Identification and interpretation of internal factors influencing the agricultural insurance market in Ukraine“. Scientific Horizons, vol. 26, no. 10 (2023): 150-162. DOI: https://doi.org/10.48077/scihor10.2023.150
“Ahrostrakhuvannia: reitynh strakhovykh kompanii Ukrainy za 2020-2022 roky“ [Agroinsurance: Rating of Insurance Companies of Ukraine for 2020-2022]. https://forinsurer.com/ratings/nonlife/20/12/76
Vilenchuk, O. M. Ahrarne strakhuvannia v Ukraini: paradyhma stanovlennia ta stratehiia rozvytku [Agrarian Insurance in Ukraine: Paradigm of Formation and Development Strategy]. Zhytomyr, 2019.
Pepelia, V. “Zbytky silskoho hospodarstva vid viiny v Ukraini siahnuly ponad 80 miliardiv dolariv - Svitovyi bank“ [Agricultural Losses From the War in Ukraine Reached More Than 80 Billion Dollars - World Bank]. LandLord. February 16, 2024. https://landlord.ua/news/finansi/zbytky-silskogo-gospodarstva-vid-vijny-v-ukrayini-syagnuly-ponad-80-milyardiv-dolariv-svitovyj-bank/
Klierini, H. V. “Ahrostrakhuvannia v umovakh voiennoho stanu: problemy pravovoho rehuliuvannia i vyklyky maibutnyoho“ [Agricultural Insurance under Martial Law: Problems of Legal Regulation and Challenges of the Future]. Analitychno-porivnialne pravoznavstvo, no. 6 (2022): 179-183. DOI: https://doi.org/10.24144/2788-6018.2022.06.32
Masiuk, Yu. V. “Osoblyvosti rozvytku strakhovykh vidnosyn v silskomu hospodarstvi Ukrainy“ [Features of the Development of Insurance Relations in Agriculture of Ukraine]. Efektyvna ekonomika, no. 8 (2021). DOI: https://doi.org/10.32702/2307-2105-2021.8.72
Slobodianiuk, O. V. “Zarubizhnyi dosvid ahrarnoho strakhuvannia: rekomendatsii dlia Ukrainy“ [Foreign Experience of Agricultural Insurance: Recommendations for Ukraine]. Ahrosvit. 2016. http://www.agrosvit.info/pdf/24_2016/6.pdf
Tatarina, T. V. “Tendentsii rozvytku rynku ahrarnoho strakhuvannia v Ukraini“ [Trends in the Development of the Agricultural Insurance Market in Ukraine]. Problemy ekonomiky. 2016. https://www.problecon.com/export_pdf/problems-of-economy-2016-3_0-pages-89_94.pdf
Tretiak, K. V. “Ahrostrakhuvannia: zarubizhnyi dosvid ta resursy shchodo yoho implementatsii v ukrainsku strakhovu praktyku“ [Agricultural Insurance: Foreign Experience and Resources for Its Implementation in the Ukrainian Insurance Practice]. Efektyvna ekonomika, no. 1 (2019). DOI: https://doi.org/10.32702/2307-2105-2019.1.32

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