Economy, finances, management: topical issues of science and practical activity

SCIENTIFIC JOURNALS OF VINNITSA NATIONAL AGRARIAN UNIVERSITY

Issue №: 1 (67)

Published: 2024.03.31

DOI: 10.37128/2411-4413-2024-1

Description:
The journal deals with the issues of efficiency of functioning of the national economics and organizational forms of management of the national economy. Attention is paid to the problems of marketing, management and efficiency of production and economic activity of agrarian enterprises. The issues of public administration and administration, accounting and taxation, banking and insurance, forecasting and modeling of economic processes, foreign economic activity, commodity flows of economic entities and their infrastructure support.

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THE ACTIVITIES OF INSURANCE COMPANIES UNDER MARTIAL LAW AND THEIR ROLE IN THE POST-WAR RECOVERY OF UKRAINE

DOI: 10.37128/2411-4413-2024-1-1

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MARTSENIUK Olena – Candidate of Economic Sciences, Associate Professor of the Department of the Finance, Banking and Insurance, Vinnytsia National Agrarian University (21008, Vinnytsia, 3, Soniachna Str., e-mail: ovm-r@i.ua).

RUDA Oksana – Candidate of Economic Sciences, Associate Professor of the Department of the Finance, Banking and Insurance, Vinnytsia National Agrarian University (21008, Vinnytsia, 3, Soniachna Str., e-mail: rudaokcana@gmail.com).

Annotation

The article analyzes the current state of activity of insurance companies, which is formed under the influence of crisis trends of recent years: the Covid-19 pandemic and quarantine restrictions, a full-scale invasion of the russian federation and mass damage. The extent of the damage to the Ukraine’s economy and the needs for recovery have been analyzed, which will include special support and mobilization of the private sector, as well as necessary costs for the recovery of housing, social infrastructure, energy and transport.

It is noted that the downward changes in the number of companies do not have a negative impact on the quality of services provided and the penetration of the insurance market, as these trends may indicate changes in the insurance market and its adaptation to new conditions, reflecting the impact of changes in the economy as a whole, the regulatory environment and demand for specific types of insurance products.

It has been determined that in the future, the number of lawsuits under military policies from the ships damaged by sea mines, missile attacks and bombings in the conflict zone in the Black and Azov seas, as well as under private contracts, will increase in the activity of insurance companies. The structural changes in the insurance market and the factors that caused them are analyzed, as well as the trends of changes are given.

It has been proven that in the conditions of martial law, the issue of war risk insurance possibilities is quite natural. The possibilities of introducing a fully functional military risk insurance system in Ukraine, which is provided for by the Memorandum on Economic and Financial Policy between Ukraine and the IMF, have been studied. This concept was developed with the participation of specialists from the World Bank, the National Bank of Ukraine of Ministry of Finance and the Ministry of Economy of Ukraine, which is positive for the progressive development of the insurance market of our country in the direction of adaptation to EU standards.

A comprehensive analysis of the insurance products of the leading Ukrainian insurers, which provide protection against war risks, was carried out. Prospects for the introduction of new insurance products that will meet the needs of society have been determined.

The most promising is the implementation of the effective measures for the proper insurance of investments against war risks, which can contribute to the attraction of funds for the reconstruction of the country, the relocation of enterprises, the organization of high-tech production and services, the creation of new jobs, the adoption and application of innovative experience, an increase in the level of income and an increase in income to state.

Keywords: insurance market, insurance protection, insurance compensation, martial law, military risks, investment insurance

List of references

1. Duma, V.V. (2022). Strakhova diialnist v umovakh rosiiskoi ahresii: pravovi pidstavy y praktychni perspektyvy [Insurance activity in the conditions of Russian aggression: legal grounds and practical perspectives]. Naukovi pratsi Natsionalnoho aviatsiinoho universytetu. Seriia: «Yurydychnyi visnyk «Povitriane i kosmichne pravo» – Scientific works of the National Aviation University. Series: «Legal Bulletin «Air and Space Law», 2 (63), 160-166. DOI: 10.18372/2307-9061.63.16724 [in Ukrainian].

2. Yatsenko, O.V. (2022). Derzhavne rehuliuvannia rehionalnoi investytsiinoi diialnosti [State regulation of regional investment activity]. Modern Economics, 34, 123-129. DOI: https://doi.org/10.31521/modecon.V34(2022)-19 [in Ukrainian].

3. Ofitsiinyi vebsait Natsionalnoi komisii, shcho zdiisniuie derzhavne rehuliuvannia u sferi rynkiv finansovykh posluh [Official website of the National Commission, which carries out state regulation in the field of financial services markets]. nfp.gov.ua. Retrieved from: https://nfp.gov.ua [in Ukrainian].

4. «Forinshurer». Onlain-zhurnal Lihy strakhovykh orhanizatsii Ukrainy [«Forinsurer». Online magazine of the League of Insurance Organizations of Ukraine]. forinsurer.com. Retrieved from: https://forinsurer.com/ [in Ukrainian].

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6. Strakhuvannia pid chas voiennoho stanu: chy ye shansy na vidshkoduvannia [Insurance during martial law: are there any chances of reimbursement]. biz.ligazakon.net. Retrieved from: https://biz.ligazakon.net/analitycs/210301_strakhuvannya-pd-chas-vonnogostanu-chi-shansi-na-vdshkoduvannya [in Ukrainian].

7. U Natsionalnomu banku proponuiut rozdilyty na dva etapy strakhuvannia voienno-politychnykh ryzykiv. Ukrinform [The National Bank proposes to divide the insurance of military and political risks into two stages. Ukrinform]. ukrinform.ua. Retrieved from: https://www.ukrinform.ua/rubric-economy/3694533-u-nacbanku-proponuut-rozdiliti-na-dva-etapi-strahuvanna-voennopoliticnih-rizikiv.html [in Ukrainian].

8. Ofitsiinyi vebsait strakhovoi kompanii ARX [Official website of the ARX insurance company]. arx.com.ua. Retrieved from: https://arx.com.ua/ [in Ukrainian].

9. Ofitsiinyi vebsait strakhovoi kompanii TAS [Official website of the TAS insurance company]. taslife.com.ua. Retrieved from: https://taslife.com.ua/ [in Ukrainian].

10. Ofitsiinyi vebsait strakhovoi kompanii VUSO [Official website of the VUSO insurance company]. vuso.ua. Retrieved from: https://vuso.ua/ [in Ukrainian].

11. Ofitsiinyi vebsait strakhovoi kompanii INHO [Official website of INGO insurance company]. ingo.ua. Retrieved from: https://ingo.ua/ [in Ukrainian].

12. Ofitsiinyi vebsait strakhovoi kompanii PrAT «SK Misto» [The official website of the insurance company PJSC «SK Misto»]. ic-misto.com.ua. Retrieved from: https://ic-misto.com.ua/ [in Ukrainian].

13. Martseniuk, O.V., Ruda, O.L. & Perkun, A.V. (2023). Cuchasni tendentsii formuvannia resursnoho potentsialu strakhovoi kompanii [Current trends in the formation of the resource potential of the insurance company]. Efektyvna ekonomika – Efficient economy, 7. DOI: http://doi.org/10.32702/2307-2105.2023.7.42. Retrieved from: https://nayka.com.ua/index.php/ee/article/view/1877/1894 [in Ukrainian]

14. Shcho zminiuietsia u strakhuvanni v umovakh voiennoho stanu? [What changes in insurance under martial law?]. eba.com.ua. Retrieved from: https://eba.com.ua/shho-zminyuyetsya-u-strahuvanni-v-uovah-voyennogo-stanu/ [in Ukrainian].

15. Pro vnesennia zmin do Zakonu Ukrainy «Pro finansovi mekhanizmy stymuliuvannia eksportnoi diialnosti» shchodo strakhuvannia investytsii v Ukraini vid voiennykh ryzykiv»: Zakon Ukrainy № 3497-IX [On Amendments to the Law of Ukraine «On Financial Mechanisms for Stimulating Export Activity» Regarding Insurance of Investments in Ukraine Against Military Risks: Law of Ukraine № 3497-IX]. (2023, November 22). zakon.rada.gov.ua. Retrieved from: https://zakon.rada.gov.ua/laws/show/3497-20#Text [in Ukrainian].

16. Martseniuk, O.V. (2020). Intehratsiini protsesy yak chynnyk rozvytku strakhovoho rynku Ukrainy [Integration processes as a factor in the development of the insurance market of Ukraine]. Derzhavne upravlinnia: udoskonalennia ta rozvytok – Public administration: improvement and development, 2. DOI: 10.32702/2307-2156-2020.2.30. Retrieved from: http://www.dy.nayka.com.ua/pdf/2_2020/32.pdf [in Ukrainian].

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About the journal

Topics of the journal:

С1 Economics and International Economic Relations (by specialization)

D1 Accounting and Taxation

D2 Finance, Banking, Insurance and Stock Market

D3 Management

D4 Public Management and Administration

D5 Marketing

D7 Trade

J3 Tourism and Recreation

Keywords: economics , international economic relations , accounting , taxation , finance , banking , insurance , stock market , management , public management and administration , marketing , trade , tourism and recreation

Key information:

ISSN (print): 2411-4413

DOI: 10.37128

All-Ukrainian scientific and production journal “Economics, finance, management: topical issues of science and practical activity” is a peer-reviewed open-access journal that publishes original research, theoretical articles and reviews on a wide range of economic and business issues. The articles, which have scientific and scientific-practical significance, highlight theoretical and methodological aspects of the development of agrarian sector of economy and related industries, the results of fundamental and applied research.

The purpose of the journal is to highlight the results of fundamental and applied research in the field of economic sciences, aimed at developing modern approaches to managing economic processes, financial support for enterprise activities and increasing the efficiency of economic systems. The publication is focused on creating a scientific environment for the exchange of research results between scientists, higher education students and practitioners in economic sphere, as well as on the dissemination of modern scientific and methodological approaches to solving current economic and management problems. The journal contributes to the development of the research in the field of enterprise economics, finance, accounting, auditing, management, marketing, entrepreneurship, trade, tourism and recreation, public management and administration, economic development and international economic relations, which meets the modern needs of the socio-economic development of the state.

The journal’s objectives are:

• publishing the results of fundamental and applied research in the fields of economics, international economic relations, finance, management, public administration, accounting, marketing, tourism and recreation, and entrepreneurship;

• promoting the development of modern methods of managing enterprises and organizations, increasing the efficiency of using financial and material resources;

• supporting the research aimed at improving the economic mechanisms of enterprise functioning, developing innovative activity, and increasing the competitiveness of economic structures;

• ensuring the scientific exchange of research results between higher education institutions, scientific institutions, and business entities;

• developing methods of economic analysis, forecasting, and modeling of socio-economic processes;

• disseminating of modern approaches to financial management, accounting, taxation, and control of economic activity;

• promoting the development of interdisciplinary research related to the economic support of the development of agrarian sector of economy and rural areas;

• integration of scientific research results into the international scientific space and increasing the level of scientific communication.

Publisher: Vinnytsia National Agrarian University

Link to the journal on the publisher’s website: ”Economics, finance, management: topical issues of science and practical activity”

Frequency of issue: 4 times a year.

Language of publication: Ukrainian, English.

Editor-in-Chief: Inna Honcharuk

State registration: Decision of the National Council of Ukraine on Television and Radio Broadcasting No. 1337 and No. 1178. Media identifier – R30-05171. Publisher registration number (EDRPOU) 00497236.

Publisher’s ROR: https://ror.org/05m3ysc06 Publisher’s DOI prefix: 10.37128 ISSN (print): 2411-4413

Publisher DOI prefix: 10.37128 ISSN (print): 2411-4413

The scientific journal is included in category "B" of the List of scientific professional publications of Ukraine, in which the results of dissertations for the degree of Doctor and Candidate of Sciences in the specialties C1 (051) - Economics, D1 (071) - Accounting and Taxation, D2 (072) – Finance, Banking, Insurance and Stock Market, D3 (073) – Management, D5 (075) – Marketing, D7 (076) – Entrepreneurship and Trade, (241) – Hotel and Restaurant Business, D4 (281) – Public Management and Administration (Order of the Ministry of Education and Science of Ukraine dated March 17, 2020 №409)

History of journal:

History of the journal:

Founded in 1997 under the name ”Bulletin of Vinnytsia State Agricultural Institute”. In 2010-2014 it was published under the name “Collection of Scientific Papers of Vinnytsia National Agrarian University”. Since 2015 “Economics, finance, management: current issues of science and practical activity” (Certificate of State Registration of Mass Media No. 21154-10954 PR dated 12/31/2014).