id: 32808
Title: Essence, types of insurance and its development in agriculture
Authors: Koval L.
Keywords: essence, types of insurance, development, agriculture
Date of publication: 2023-04-12 13:02:55
Last changes: 2023-04-12 13:02:55
Year of publication: 2023
Summary: The purpose of the paper is to explores the economic essence of the insurance category in the theoretical aspect and the regulatory framework and reveals the importance of insurance for agriculture as one of the means of maintaining the normal functioning of the enterprise; an improved classification of insurance types is proposed and the objects of accounting and audit of insurance calculations are determined. Studies have shown that in the existing regulations there is no general interpretation of the term "insurance". All definitions of insurance mainly concern the protection of property or social rights. This situation leads to inconsistency of the essence of insurance with the specified subject of the contract, according to which insurance is divided into property, personal and liability insurance. Thus, it is the subject of the insurance contract that necessitates the definition of the general concept of "insurance". An ambiguous interpretation of the economic essence of insurance among scientists has also been established. Methodology of the study it is proposed to define insurance as a type of civil law relations of a preventive nature between the insurer and the insured, providing for material and monetary compensation of a certain amount of material damage incurred and damage caused to a third party as a result of the occurrence of an insured event provided for by the insurance contract (for insurance protection of property interests) or current legislation (for all types of social insurance), the funds for which are placed on insurance accounts organizations and/or special state funds (depending on the type of insurance) created on the basis of contributions of legal entities and individuals in the form of insurance payments and deductions. Such a definition reveals the general concept of insurance and its main components from the position of the insurer. Results of the author proposed to interpret insurance as an economic process of the enterprise, which aims to ensure the functions of its sustainable development by accumulating funds of both internal and external reserves. In the course of the study, inconsistencies in the types of insurance were revealed. Practical implications.Therefore, it is proposed to supplement the classification of insurance on an economic basis with the division of insurance by type of activity. This proposal fits the proposed definition of the term "insurance". Studies have shown that today the vast majority of agricultural enterprises neglect the current legislative framework in matters of compulsory insurance. Having studied the existing principles of insurance, we proposed to supplement the existing list with the principle of legislative security, according to which the subjects of the insurance market must comply with current legislation and be liable for their non-compliance. Value/originality. As for the objects of insurance, with the introduction of NP(C)BU 30 "Biological Assets", it became necessary to harmonize the current legislation and the new standard. To this end, it is proposed to unify the classification of biological assets in accordance with NP(C)BU 30 "Biological Assets" with the grouping of insurance objects in accordance with the Law of Ukraine "On Insurance". Such a classification of property insurance objects, taking into account the requirements of NP(C)BU 30 "Biological Assets" will make it possible to bring into line the insurance objects and related calculations.
URI: http://socrates.vsau.org/repository/getfile.php/32808.pdf
Publication type: Монографії видані за кордоном
Publication: Financial mechanism in the system of economic vectors of development of Ukraine : Scientific monograph. Riga, Latvia : “Baltija Publishing”, 2023. P. 149-168. DOI: https://doi.org/10.30525/978-9934-26-291-3-6
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