РИЗИКИ ДІЯЛЬНОСТІ СТРАХОВОЇ КОМПАНІЇ
In the current context, collision with various risks is a danger for any financial institution, including insurance companies. Demographics, political changes, increased competition between banks and non-banking financial institutions, inflation and currency fluctuations, economic crises, insufficient capitalization of financial institutions, low efficiency of the system of protection of the rights of consumers of financial services, etc. increase the risk of functioning of insurance companies in the financial services market. Therefore, to ensure the profitability and reliability of insurers, it is important to identify and manage risks in their operations.
The activities of insurance companies are impossible without the influence of various risks, which have both internal and external nature. Determining the role of risks and their impact is of great importance for the stable functioning of the insurance market and meeting the needs of consumers of insurance services. In view of this, the main goals of the article are to justify the main types of risks in the activities of insurance companies.
The article substantiates the essence of risk as a possibility of negative deviation from the expected result. The nature of risk for insurance companies is disclosed – on the one hand, the risk is typical for insurers as entities; on the other hand, risk is a raw material for insurers. Risks in the activity of an insurance company are classified into those that are caused by external influences and those that depend on or are caused directly by the activity of the insurance company or their inefficient management.
Insurance companies should analyze and review their risk assessment on a regular basis, as well as whenever there are changes in operating conditions or new threats arise. The results of the risk assessment should be approved by management and underpin the development of risk mitigation policies and procedures that should take into account the readiness of the institution to take certain risks and to set the acceptable level of such risks