Insurance market within financial system operates on partnership terms and in competitive conditions. This is due to the competitive struggle for the market - securities, then the insurance market offers free insurance products cash population and economic entities between various financial institutions. If banks offer deposits, stock.

The main criteria for the development of the insurance market are an increase in the income of the population, an increase in the solvency of enterprises and the acquisition of expensive property by the population (cars and real estate).

In 2013 real income population increased by 4%, and real wage by 6%. It is expected that household expenditures on final consumption in 2014 will increase by at least 4-5% in real terms, due to the fact that household expenditures are growing faster than GDP. Based on this, the ratio of insurance premium to GDP will also increase.

About two-thirds of large and medium-sized enterprises in Russia maintain a positive balance of profits and losses. Despite the fact that the share of profitable enterprises decreased slightly compared to last year. According to analysts, in 2015 the solvency of Russian businesses will decrease. Against this background, the prospects for investment activity of enterprises will look more stable.

According to Rosstat, investments in fixed capital are currently at the level of last year. IN recent months There is a tendency for this indicator to increase.

Based on the results of 2013 credit debt population according to the Central Bank of the Russian Federation, will exceed 33%. In this regard, forecasts for the rapid development of life insurance sold through bank offices look quite reasonable. Bank insurance life in the last two years has been one of the main “engines” of market development - it accounted for 13% of the total increase in premiums in 2013, although it occupies only 7% of the market. According to experts, in 2014 the contribution of life insurance to total increase insurance premium was higher than last year.

Based on this, we can assume that in 2015 there will be no decline in the Russian economy and the insurance market. The country's economy will develop at a slow pace. It is expected that in 2015 the market will cross the premium level of 1 trillion. rubles The increase in insurance premium (without compulsory medical insurance) in 2014 will be 13-15%.

According to the basic (optimistic) forecast of Expert RA, in 2015 the growth rate of premiums will exceed 20%, subject to an increase in compulsory motor liability insurance tariffs, stimulation of property insurance of citizens and the development of life insurance. The pessimistic market development scenario assumes the absence of these changes. In this case, the growth rate of contributions in 2015 will be 5-7%.

Should work in 2015 external factors- most likely, tariffs for compulsory motor liability insurance will be adjusted, measures to stimulate property insurance will begin to take effect individuals. In addition, it is possible to accept benefits in life insurance and increase subsidies in agricultural insurance (if the threshold for crop loss is lowered).

The presence of infrastructure is a necessary condition for the existence of an effective insurance market. To do this, the following set of measures is proposed:

Development of the institution of insurance intermediaries, which includes:

• 1. The scope of regulation of insurance agents and insurance brokers, creating a mechanism for effective supervision of insurance agents and brokers, increasing the responsibility of intermediaries for the quality of their services, in order to balance the interests of insurers and insurance intermediaries in determining the terms of service (including the amount of commission).
• 2. Legislative regulation of actuarial affairs, the formation of an institute of insurance actuaries, the introduction of the practice of drawing up actuarial reports by actuaries confirming the validity of insurance rates used by the insurer and the adequacy of the formed insurance reserves.
• 3. Development of a system for assessing insurance companies to assess their reliability and financial stability. Ensuring independence and transparency rating agencies, development of approaches to regulating their activities, taking into account the principle of voluntary rating for insurance organizations;
• 4. Improving the status and role of professional associations (unions, associations) of insurers, self-regulatory organizations insurers, gradual expansion of their functions and powers;
• 5. Integration of information resources of insurer associations in the insurance market information support, information systems government bodies and associations of insurers connected to the interdepartmental electronic interaction system for the purpose of exchanging data necessary for the implementation of certain types of insurance;
• 6. Consolidation of reporting data of members of the professional association of insurers on concluded contracts compulsory insurance to analyze losses, monitor insurance rates, monitor member activities and report results to the public;
• 7. Introduction of unified software for associations of insurers, methodological and information support for the settlement of losses, in particular, to determine the amount of damage, the cost of restoration costs, including the cost of spare parts (parts), workwear, as well as definitions actual value property on the date of occurrence insured event etc.;
• 8. Development and implementation of a “risk map” for certain types of insurance and insured events;
• 9. Collection and monitoring of information from insurers for the settlement of losses, the number of claims of policyholders, insured persons and beneficiaries, the number of claims on which decisions are made by the courts;
• 10. Perform functions to coordinate insurers with international practice.

The following factors currently contribute to the development of the Russian insurance market:

• 1. Integration in the global economic community;
• 2. Removal of the “Iron Curtain” between Russia and European countries;
• 3. An increase in the number of trips abroad, which are accompanied by the purchase of insurance policies;
• 4. Development of market relations in Russia, which are accompanied by high business, financial and other risks.

The following trends stand out in the current decade:

• 1. The emergence of new competitors: for example, banks are entering traditional types of insurance;
• 2. Development of new technologies;
• 3. Comprehensive solution to the policyholder’s problems;
• 4. Customer focus is not in the standard products offered, but in the search for new solutions;
• 5. Preference for competence and knowledge;
• 6. The emergence of new channels for selling insurance services, primarily through the Internet.

The research center of the insurance company Rosgosstrakh has prepared new prospects for the development of the insurance market in Russia until 2015.

The forecast for 2015 assumes the following conditions:

• - increase in tariffs in compulsory motor liability insurance;
• - implementation voluntary insurance property of citizens
• - increase in government subsidies in agricultural insurance (if the threshold for crop loss is lowered from 30 to 25%)
• - promotion of life insurance (introduction tax benefits and the admission of life insurers into the pension system).

With Russia's accession to the World Trade Organization (WTO) and the obligations assumed in connection with this, a set of measures is required to harmonize Russian insurance legislation:

• - determination of forms and procedures for participation foreign investors in the creation and management of insurance companies and their branches;
• - formation of approaches to supervision and control over the activities of foreign insurers and their branches in Russian Federation and cross-border insurance operations.

Indicators characterizing the penetration of insurance into the Russian economy were selected as control indicators for the successful implementation of the project, which is reflected in Table 1.

These are generally accepted quantitative financial results of insurers, indicators characterizing the ratio of the amount of voluntary and compulsory insurance (extensive or intensive) according to which the insurance industry is developing, indicators of the role of insurance in society.

Behind last years The insurance market in Russia has gone from a “gray” and opaque area of ​​activity to an important segment of the economy. They began to talk about the need for the insurance market at the highest level, since through insurance a person realizes one of his most important needs - the need for security.

Thanks to insurance, the degree of dependence of policyholders on human error, malicious intent, and natural disasters is reduced.

Despite the fact that the main macroeconomic indicators of the insurance market in Russia are still significantly inferior to developed countries, it has reached new stage of its development. This changed the ideology of insurance companies and their goals.

CURRENT STATE, PROBLEMS AND PROSPECTS FOR DEVELOPMENT OF THE INSURANCE MARKET OF THE RF Kokhno Natalya Olegovna, Ph.D. tech., sciences (e-mail: [email protected]) Grosheva Angela Andreevna, student (e-mail: [email protected]) Khamidulina Diana Gumyarovna, student (e-mail: [email protected]) Novocherkassk Engineering and Reclamation Institute named after. A.K. Kortunova Donskoy State Agrarian University, Russia, Novocherkassk

The article discusses current state insurance services market in the Russian Federation. Various problems of the insurance market are touched upon, as well as prospects for its development over the next few years.

The theoretical argumentation of the state of the corresponding market in the current situation in Russia is presented.

Key words: insurance, insurance market, property rights, loss coverage.

In the emerging market economy of the Russian Federation, insurance increasingly affects various legal aspects of life and activities of individuals and legal entities, the state as a whole and its power.

The insurance market is one of the most significant segments of modern market economy, the impact of which on the development of the socio-economic mechanism of the state cannot be overestimated. It is a powerful tool that promotes and facilitates the consolidation of investment resources, which in turn provide the potential for social development. The stability of the insurance market is the key to the constant development of the economy, both the state and society as a whole.

The insurance market demonstrates the scope of specific economic relations between the insured person or beneficiary who needs insurance protection in connection with the possible occurrence of adverse events, and the insurer providing protection using insurance funds, which consist of cash premiums paid by the policyholder.

Also, the insurance market is an area of ​​the financial market that can be considered as a collection of several insurance organizations and insurers that provide relevant services for insurance and protection of society, where there are many phenomena that directly affect the low level of financial opportunities to place large insurance risks, namely:

1. Insufficient insurance reserves and authorized capital insurance companies.

2. Lack of knowledge and experience in insurance, in the field of assessing insurance risk, damage and its compensation, incompetent risk management.

3. Low level of infrastructure coverage and tariff calculation methodology.

The formation of insurance in the Russian Federation was influenced by the historical features of the development and formation of Russia. At the beginning of the 21st century, domestic insurance was just being revived, which means that today it is still far from its saturation point, so we can talk about great prospects for the development of this area in the near future. The legislative basis for legal regulation in the field of insurance activities was laid by the Law “On Insurance” of November 27, 1992, which gave a huge impetus to the development of the domestic insurance business. The next leading legislative act regulating this area was Chapter 48 of the Civil Code of the Russian Federation.

Today in Russia there are about 232 companies on the insurance services market, which are distributed by type of ownership as follows: mixed - 58%; private - 36%; with state participation - 5%; municipal - 1%. (picture 1).

mixed,% private,% with state. participation,% municipal,%

Figure 1 - Domestic Insurance companies by type of ownership

The most developed types of insurance in Russia are considered to be the following: compulsory motor liability insurance, which occupies about 40% of the total market, medical and pension insurance - occupy 2nd and 3rd place, respectively, which in the total volume is slightly less than half of the market (25% and 20%) ., insurance real estate individuals and legal entities, which account for more than 10%, and other types of insurance that are gaining popularity in our country also close the rating (Figure 2).

Much less popular today in our country are such types of insurance business as liability insurance, accident insurance, children's insurance, professional insurance and other less well-known instruments for protecting capital (liability).

40 35 30 25 20 15 10 5 0

Social insurance,%

new insurance,%

insurance

real estate share,%

other types of insurance,%

share in total insurance volume

Figure 2 - Main types of insurance in the Russian Federation

Number of Russians using insurance services, is currently gradually increasing, this is due to rising incomes of the population, development of the industry and increased regulation by the state, as well as increasing reliability of insurance companies.

However, it should be noted that the normal pace of insurance development in Russia is still hampered by the following problems:

1. Low indicators of demand and solvency for insurance services for citizens and legal entities. People are used to having insurance imposed on them and do not perceive it as financial protection. In addition, Russian people are accustomed to relying on “maybe”. For example, instead of insuring an apartment against the risk of flooding, they hope that everything will work out.

2. Limitation of competition, which spurs business and forces it to look for new ways of development, value customers and maintain a high level of quality of goods and services. Unfortunately, competition in the insurance market is sometimes artificially limited. For example, if a client took out a mortgage from a bank, he can only obtain insurance from partner companies. The situation is identical with medical insurance, i.e. if a patient wants to be seen in a specific clinic, he will have to choose a policy from only one or several insurance companies with which the medical institution cooperates.

3. Market opacity. It is necessary to increase transparency, i.e. expand the list of documents and data required for disclosure. If information becomes publicly available, people will understand that insurers have nothing to hide, and the level of trust in them will increase.

4. Low operating standards, which lead to the fact that many insurance companies are not responsible to clients.

After the Central Bank became the insurance regulator, the situation began to change a little for the better. In recent years, the market

While about 200 insurers left, the strongest remained. The main problems of those whose licenses were revoked are insufficient financial stability. That is, companies initially understood that they would not be able to cover the risks, but still sold policies to clients. The regulator's requirements should apply not only to the financial stability of companies, but also to the level of services and the amount of payments.

5. Fraud. Only strict regulation of the market and promotion of the desired image of organizations will help cope with the distrust and fear of consumers.

All of the above problems that limit the level of development of insurance and its financial capabilities require an urgent solution. At the same time, these problems should be solved not only on their own, but also taking into account experience foreign countries, where the insurance market is most developed.

However, let’s not forget about the prospects for the development of insurance in Russia, since if the above problems are resolved as soon as possible, great opportunities to promote this market

Under the influence of positive trends, taking into account the gradual resolution of problems, in the future the insurance market will grow, strengthen and progress, but at a moderate pace.

Relying on the opinions of experts in the field of insurance, it can be noted that the insurance market in Russia has all the prerequisites for growth of 12-15%, which will contribute to recovery in the future GDP growth, strengthening of the ruble, lowering bank rates, as well as the emergence of new offers. In addition, innovations in the MTPL insurance system and an increase in corresponding tariffs will give impetus to a new stage in the development of the insurance market in the near future. The development and growth of the personal lending market will help the growth of insurance of bank clients against accidents and illnesses, as well as due to cost inflation medical services, voluntary health insurance, according to insurance companies, will show an increase in volume by the end of 2019.

Also, the development and functioning of the insurance business will be facilitated annually by the improvement of the activities of insurance companies and the support of this area from the Government of the Russian Federation.

Based on the foregoing, we can conclude that the insurance market, taking into account the correct approach to solving all the main problems in this area, will develop in the coming years, and has prospects for its further improvement.

Bibliography

1. Aksyutina S.V. Insurance market of the Russian Federation: problems and prospects // Problems of territory development. - 2017. - No. 2 (70). - pp. 115-126.

2. Bakanaev I.L., Ashaganov A.Yu., Tsokaeva L.A., Movtigova M.A. Problems and prospects for the development of the insurance market of the Russian Federation // Young scientist. - 2017. - No. 23. - S. 468471.

3.Insurance information portal [ electronic resource] - Access mode. -

4. Strategies for the development of insurance activities in the Russian Federation until 2020, approved. by order of the Government of the Russian Federation of July 22, 2013 No. 1293-r // Collection of legislation of the Russian Federation. - 2013. - No. 31. - Art. 4255.

5. Central Bank of the Russian Federation [electronic resource] - Access mode. - URL: http://www.cbr.ru/ (access date: 10/21/2018)

Grosheva Angela Andreevna, student f-that BIST Hamidulina Diana Gumyarovna, student f-that BIST

Novocherkassk engineering and meliorative institute of A.K. Kortunov of the Don GAU, Russia, Novocherkassk.

CURRENT STATE AND PROSPECTS OF DEVELOPMENT OF THE INSURANCE MARKET AS KEY LINK OF THE FINANCIAL SYSTEM OF THE RUSSIAN FEDERATION

Abstract. In article the current state of the market of insurance services in the Russian Federation is considered in detail. Versatile issues of the insurance market and also his prospect of development for the next several years are touched. The theoretical argument of a condition of the corresponding market in the conditions of currently existing economic and political situation in Russia is submitted.

Keywords: insurance, market of insurance services, property rights, covering of losses.

ANALYSIS OF THE LAND MARKET IN KURSK

AS OF OCTOBER 2018 Koshkin Andrey Aleksandrovich, student (e-mail: [email protected]) Alexey Vasilievich Shleenko, Ph.D., Associate Professor Southwestern State University, Kursk, Russia (e-mail: [email protected])

This article provides a market analysis land plots the city of Kursk for October 2018 for specific districts, based on summary price list data for various purposes.

Key words: district, analysis, purpose, land plot, market.

A number of large enterprises are located in the Railway District of Kursk various industries industries: electrical and radio engineering, defense, mechanical engineering and metalworking, pharmaceutical, medical, light, food; There are over 623 trade, catering and service enterprises, including two shopping centers, a food market, about 50 catering organizations, and shops of various types.

Table 1 shows the cost of land plots in the Zheleznodorozhny district of Kursk according to the Avito website

These measures will allow the fishing industry to become more efficient and strengthen the level of food security of the state.

Literature

1. Gravshina I.N., Denisova N.I. Competitiveness of the agro-industrial complex as a mechanism for ensuring economic security states // Collection of scientific articles based on the materials of the international scientific and practical conference " Innovative development- from Schumpeter to the present day: economics and education", Publisher: Society with limited liability"Scientific Consultant", Moscow, 2015, pp. 122128.

2. Gravshina I.N. Threats to ensuring food security // Collection of scientific papers based on the materials of the International Scientific and Practical Conference on April 30, 2015: in 14 volumes, Ucom Consulting Company LLC, Tambov, 2015, pp. 51-52.

3. Denisova N.I. On the issue of food security in the region and the factors that determine it (based on materials from the Ryazan region) // Bulletin of the agro-industrial complex of the Verkhnevolzhye region, Federal State Budgetary Educational Institution of Higher Professional Education "Yaroslavl State Agricultural Academy", Yaroslavl, 2015, No. 3 (31), pp. 9-12.

4. Denisova N.I. Food security of Russia: problems, prospects // Bulletin of the Ryazan State Agrotechnological University named after. P.A. Kostycheva, Ryazan, 2014, No. 1 (21), pp. 101-105.

Development of fishery within strengthening of food security of the state

Natalya Ivanovna Denisova, candidate of economics, head. The department of finance and credit The Ryazan branch of Moscow Witte University

In the article the assessment of a current state of fishery of the Russian federation is given, the ratio is shown is export - import operations in fish branch. Prospects of development of fish branch within strengthening of food security of the state are defined

Keywords: fishery, food security, branch, development, concept

INSURANCE MARKET OF RUSSIA: PROBLEMS AND DEVELOPMENT PROSPECTS

Natalya Ivanovna Denisova, Ph.D. econ. sciences, head Department of Finance and Credit,

e-mail: [email protected] Lyudmila Mikhailovna Chizhenko, associate professor. Department of Finance and Credit e-mail: miss.chijenko@yandex Ivan Petrovich Chizhenko, associate professor. Department of Finance and Credit e-mail: chijenko.iw@yandex Ryazan branch of the Private Educational Institution of Higher Education “Moscow University named after S.Yu. Witte"

http://www. muiv. ru/ryazan/

The article reveals the features of the Russian insurance market. The causes and trends of its change are determined. The problems and prospects for the development of the insurance market in the Russian Federation are revealed.

N.I. Denisova

Key words: insurance, insurance market, property insurance, personal insurance, insurers.

IN modern conditions rapid growth of the threat of harmful consequences of various unfavorable factors associated with the development of scientific and technological progress and increased risk of losses associated with conducting entrepreneurial activity, the role of such sphere increases significantly financial relations, as insurance, designed to protect the interests of both representative L.M. Chizhenko lei of business and ordinary citizens when various types of harm are caused as a result of the action of unfavorable factors of an objective nature. On modern stage development of market relations, along with the traditional purpose of insurance - ensuring the protection of policyholders from natural disasters, random events of a technological and environmental nature, the objects of insurance are increasingly becoming property interests associated with compensation for damage caused by the insured to the person or property of third parties. Through insurance, a person realizes one of his most important needs - the need for security. In this regard, the development of such a segment of the financial market as the insurance market is of particular relevance.

The insurance market is a specific market ^^^ sphere that exists in unity with commodity market,

is its variety and develops within the framework of general laws.

The insurance market is the sphere of formation of supply and demand for insurance services. It expresses the relationship between various insurance organizations (insurers), 7 ^ offering relevant services, as well as legal entities and individuals who need insurance protection (policyholders). Just like the market for any other goods, works, services, the insurance market is subject to cyclicality, economic natural fluctuations in the growth and decline of prices for insurance services. All relations between participants in the insurance market are regulated by the Civil Code of the Russian Federation and the Law of the Russian Federation “On the organization of insurance business in the Russian Federation.” The insurance market operating in Russia is a complex system with many relationships between its participants, which is presented in Figure 1.

Please note that insurance is an area of ​​activity that is quite strictly regulated by the state. In the Civil Code of the Russian Federation, the regulation of insurance is currently the Federal Law of the Russian Federation “On the organization of insurance business in the Russian Federation” dated December 10, 2003 No. 172-FZ. The activities of all insurance entities are subject to mandatory licensing. Regular supervision of the activities of insurers is carried out (until September 1, 2013, it was carried out by the Federal Insurance Supervision Authority (one of the five federal services in the apparatus of the Ministry of Finance, after this date this function is performed by the mega-regulatory body of the financial market, which is the Bank of Russia). As a result of fairly high requirements for the activities of insurers, their number in the insurance market compared to the beginning of the 90s of the last century, which is considered the beginning of the revival of the national insurance market in Russia, amounted to more than 3 thousand. insurance organizations decreased by more than seven times. According to

According to the Bank of Russia, at the end of 2014, 404 insurance and reinsurance companies provided insurance services in Russia. In 2014 alone, 20 insurance companies left the market. According to the Central Bank of the Russian Federation, the total authorized capital of Russian insurers is 219.94 billion rubles (as of December 31, 2013 - 210.4 billion rubles), the average size authorized capital - 544.41 million rubles (as of December 31, 2013 - 500.88 million rubles). The rate of capital growth has decreased compared to last year.

Figure 1. Participants in the Russian insurance market

The above-mentioned Federal Law No. 172-FZ distinguishes three branches of insurance: 1) personal insurance; 2) property insurance; 3) liability insurance. This classification is based on significant differences in the insurance object. A type of insurance represents a part of the insurance industry. It is characterized by insurance of homogeneous property interests.

Personal insurance is a form of protection against risks that threaten a person’s life, ability to work and health. Life or death as a form of existence cannot be objectively assessed.

Unlike property insurance in personal insurance insurance amounts do not represent the cost of material losses or damages that cannot be objectively expressed, but are determined in accordance with the wishes of the insured based on his financial capabilities. Property insurance in the Russian Federation is an insurance industry where the objects of insurance legal relations are property in various types. Property is understood as a collection of things and material assets owned and operated by an individual or legal entity. Property includes money and securities, as well as property rights to receive things or other property satisfaction from other persons. Liability insurance is an independent area of ​​insurance activity. The object of insurance here is the liability of the insured under the law or by virtue of a contractual obligation to third parties for causing harm to them.

Insurance as a form of activity of insurers is carried out in two forms: voluntary and compulsory.

Voluntary insurance is carried out on the basis of an agreement between the policyholder and the insurer. Compulsory insurance is insurance carried out by force of law. The types, conditions and procedure for compulsory insurance are determined by the relevant laws of the Russian Federation.

Mandatory types include types of insurance, the importance of which is at the level of life safety of the entire society, for example, compulsory medical insurance (CHI), insurance civil liability organizations operating hazardous production facilities (OSOPO), compulsory liability insurance for vehicle owners, compulsory carrier liability insurance (OSGOP). Which type is mandatory is determined by the state at the legislative level.

The need of a citizen or enterprise for voluntary insurance is expressed in obtaining monetary compensation insurance organization in the event of an insured event. However, the guarantee of this compensation is not given free of charge; to obtain insurance, you must pay an insurance premium. Voluntary insurance is not compulsory in nature and provides freedom of choice of insurance services in the insurance market and their volume. Voluntary insurance, for example, includes: voluntary insurance of civil liability of vehicle owners (DSAGO) and voluntary property insurance (AUTOCASCO), voluntary medical insurance (VHI), voluntary environmental insurance.

The main indicators of insurance activity on the Russian insurance market over time are presented in Table 1.

Table 1

Dynamics of the Russian insurance market

~~ _years indicator ~~ --------- 2010 2011 2012 2013 2014

Insurance premiums(billion rubles) 555.8 665.2 809.96 904.86 987.77

Premium growth rate (%) 4.2 19.65 21.66 11.1 8.5

Insurance payments (billion rubles) 295.97 303.76 369.44 420.77 472.27

Payment growth rate (%) 3.8 2.63 21.62 12.9 11.4

Payout ratio (%) 53.25 45.68 45.66 46.5 47.81

Slowdown Russian economy also affected the insurance sector. In 2014, the ratio of insurance premiums to GDP was 1.39% versus 1.3% in 2013, but the growth rate of premiums (8.5%) was lower than the inflation rate (11.36%). 2014 turned out to be even less successful for the insurance market than the previous one. The volume of premiums increased to 987.77 billion rubles, but the annual growth rate of premiums decreased from 11% to 8.5%. As expected, the tendency for the growth rate of payments to exceed the growth rate of premiums continued. According to the Central Bank of the Russian Federation, the quarterly slowdown in growth rates, observed for 1.5 years, was interrupted in the 4th quarter of 2014.

Insurers have worked for a full year under the supervision of the new regulator. The main tasks set before him in 2014 have been completed - the institution of supervision has been introduced, a department for the protection of consumer rights has been created financial services, requirements for asset quality have been tightened. Supervision listens to the opinion of the insurance community, the effectiveness of its work is assessed according to KR1.

Speaking about the Russian insurance market, one cannot fail to note its regional characteristics. Regional structure The insurance market in terms of the volume of received insurance premiums by federal district is presented in Table 2.

table 2

Regional structure of the Russian insurance market

Name of the Federal District Market share

Central 57.44

Northwestern 9.8

Privolzhsky 12.23

Ural 6.49

Siberian 6.07

Far Eastern 2.23

North Caucasian 1.19

Crimean 0.02

Compared to 2013, the structure of premium receipts remained virtually unchanged. Traditionally, the Central Federal District occupies a leading

position in the structure of the total insurance premium (57.44% or 567.4 billion rubles). The Crimean Federal District brought in 178 million rubles in less than a year. Of the 3 companies that most actively began work in new constituent entities of the Russian Federation, temporary administrations were introduced in two - SK Severnaya Kazna LLC and RSTK OJSC.

In the structure of insurance by its forms, there continues to be a tendency to reduce the share of voluntary types of insurance that are not related to life insurance. The share of mandatory types is stable (~18% over the last 3 years), and the share of life insurance continues to increase (from 6.65% in 2012 to 10.99% in 2014). The volume of insurance premiums for voluntary types of insurance in 2014 amounted to 808.92 billion rubles, for compulsory types of insurance - 178.85 billion rubles. Unlike last year, the growth rate of voluntary payments (+10.5%, 363 billion rubles) exceeded the growth rate of premiums (+8.7%). In general, the market showed positive dynamics in premiums for all types of voluntary personal insurance(328.11 billion rubles, +11.3% compared to 2013), 6 out of 7 types of voluntary property insurance (420.4 billion rubles, +5.9%), 5 out of 8 types of voluntary liability insurance ( 37.85 billion rubles, +10.3%). All types of property insurance, except agricultural insurance, water transport and personal property, showed a growth rate below the market average. The most significant changes affected railway transport insurance, premiums for which decreased by 16.8%. In the structure of premiums for voluntary types, the main part falls on insurance of funds ground transport(27.02%), VHI (15.34%), accident insurance (11.81%), life insurance (13.42%), property insurance for legal entities (13.87%).

The leading types in terms of the growth rate of premiums for voluntary types were property insurance of citizens (+29.4% compared to last year), life insurance (+27.9%), agricultural insurance (+16.3%), liability insurance of railway transport owners ( +202.7%), for non-fulfillment or improper fulfillment of obligations under the contract (+668%) and liability for causing harm to third parties (+24.5%). As for the volume of premiums, the largest increase was achieved by life insurance (+23.7 billion rubles) and compulsory motor liability insurance (+16.7 billion rubles).

The attractiveness of the Russian insurance market for foreign capital remains low. In 2014, some international companies announced their complete or partial withdrawal from Russian business. insurance groups(Allianz, Zurich, Achmea), which is associated with the low level of development of classical types of insurance, the serious influence of non-insurance factors on financial results, and the growth of political and currency risks. According to the Central Bank of the Russian Federation, the share of participation foreign companies in the authorized capitals of Russian insurers continues to decline (as of December 31, 2014 - 15.4%, as of December 31, 2013 - 15.88%, a year earlier - 17.4%). The life insurance segment continues to be of greatest interest to foreigners.

Analyzing the dynamics of profitability of insurance activities, its decline is noted. The crisis has not spared insurers. Almost all companies are faced with the problem of falling profitability equity, assets, insurance activities, as can be judged from the data given in Table 3.

Taking into account management and other expenses, indicators net profit overall the market has decreased. There will be little room for cost reduction in the near future. Insurers will have to switch to new plan accounts, introduce electronic sales, which will require costs for reforming and maintaining IT systems. The profitability of the insurance business tends to 0. Pressure on profitability is exerted by high costs of doing business and unprofitability of motor types. The combined loss ratio of most auto insurance companies exceeds 105%. In such conditions, investors lose interest and withdraw capital from this segment. Political risks put additional pressure on foreign

ny investors, as a result, foreign capital leaves the Russian insurance market. Replacing low-liquidity assets with those that meet the requirements of the Central Bank on a daily basis requires additional resources from the owners, and since out of 400 insurers, about 250 actually work, a reduction in their number is inevitable. Thus, despite a fairly stable composition of participants, the reliability of many insurance companies has deteriorated.

Table 3

Financial results of insurance companies operating in the Russian insurance market (thousand rubles)

Indicators for 2012 2013 2014

Volume of premiums direct insurance 812 469 018 904 863 559 987 772 587

Commission 117 149 354 147 835 411 151 327 583

Direct insurance payments 370 781 953 420 769 030 472 268 587

Transferred to reinsurance 114,789,933 120,157,653 138,447,778

Share of reinsurers in payments 26,403,470 25,807,013 38,727,314

Financial results(excluding incoming reinsurance) 236 151 248 241 908 478 264 455 953

Incoming reinsurance premiums 42,798,000 44,732,071 48,447,064

Payments for incoming reinsurance 13,989,136 14,302,023 18,776,561

Financial result (including incoming reinsurance) 264,960 112,272,338,526 294,126,456

In accordance with the law, insurance companies pay federal, regional and local taxes. Insurers cannot apply special tax regimes.

Speaking about the prospects for the development of the Russian insurance market, we note that in 2013, the Strategy for the development of insurance activities in the Russian Federation until 2020 was developed and adopted. Its main directions are:

Improving the regulation of compulsory insurance;

Stimulating the development of voluntary insurance;

Expanding the scope of activity of insurance business entities;

Development of insurance market infrastructure;

Optimization of the risk management system through budget funds;

Development of the agricultural insurance system;

Increasing the efficiency of forms and methods state control and supervision of insurance entities and ensuring their financial stability;

Protecting the rights of consumers of insurance services, improving insurance culture, popularizing insurance;

Strengthening the role of the Russian insurance market at the international level.

However, in the current situation in the financial market of the Russian Federation, and in particular in the insurance sector, in the conditions of a number of insurance companies leaving the market, low profitability of their activities and unattractiveness in terms of investing investment resources, deterioration financial condition many clients and the presence of a number of other crisis phenomena, it is not possible to develop a development strategy even for 3 years. One should not expect a qualitative change in the market at the end of 2015. The increase in premiums is mainly due to an increase in tariffs, but is unlikely to cover the inflationary component. In the context of a slowdown in business development, the development of the insurance market will largely depend on the organization financial activities the insurers themselves and the quality of the services they provide. In this regard, it seems relevant to improve the insurance mechanism in order to improve the quality of service provision in the interests of existing and newly attracted clients. Special attention

should be given to development remote maintenance clients through sales electronic policies; expansion of non-agency sales contacts; reducing the harmful impact of the problem of insurance fraud; intensifying sales of insurance products in the SME sector; improving the mechanism for settling losses under compulsory motor liability insurance within the framework of the Belgian model; revitalizing the segment of voluntary liability insurance of car owners and other progressive areas of activity of insurance companies.

Literature

1. Civil Code Russian Federation: [federal law: adopted. State Duma part one - November 30, 1994, part two - January 26, 1996, part three - November 26, 2001, part four - December 18, 2006]. NW RF. 1994. No. 32.

2. On the organization of insurance business in the Russian Federation: [federal. Law: adopted by the State Duma on November 27. 1992 as amended by Federal Law dated December 10, 2003 No. 172-FZ]

3. About making changes to individual legislative acts RF in connection with the transfer Central Bank RF powers for regulation, control and supervision in the field of financial markets [federal. law: adopted by the State. Duma July 23, 2013 No. 234-FZ]

4.Strategy for the development of insurance activities in the Russian Federation until 2020 /Approved by Order of the Government of the Russian Federation dated July 22, 2013 No. 1293r

5. Official website of the Central Bank of the Russian Federation www.cbr.ru

7. Denisova N.I., Chizhenko L.M., Chizhenko I.P. Modern processes in the organization of taxation of insurance protection // Bulletin of Moscow University named after S.Yu. Witte. Series 1: Economics and Management, No. 3 (9). 2014. pp. 32-40.

8. Denisova N.I., Chizhenko L.M., Chizhenko I.P. Financial levers for implementation state support small businesses // Collection Information society And actual problems economic, humanitarian, legal and natural sciences. Materials of the X International Scientific and Practical Conference. Ministry of Education and Science of the Russian Federation, International Educational Consortium "Electronic University", Federal State Budgetary educational institution higher vocational education"Moscow State University of Economics, Statistics and Informatics (MESI)" Ryazan branch, 2014, pp. 40-49.

9. Denisova N.I., Chizhenko L.M., Chizhenko I.P. Features of small business lending in the service system banking sector Russia // Bulletin of Moscow University named after S.Yu. Witte. Series 1: Economics and Management, No. 2 (13). 2015. pp. 3-8.

Insurance market of Russia: problems and prospects of development

Natalya Ivanovna Denisova, Candidate of Economics, head. the department of finance and credit, The Ryazan branch of Witte Moscow University

Lyudmila Mihaylovna Chizhenko, Associate Professor of the Chair “Finance and Credit”, The Ryazan branch of Witte Moscow University

Ivan Petrovich Chizhenko, Associate Professor of the Chair “Finance and Credit”, The Ryazan branch of Witte Moscow University

In article features of the insurance market of Russia are opened. Causings and tendencies of its change are defined. Problems and prospects of development of the insurance market in the Russian Federation are opened.

The keywords: insurance, insurance market, property insurance, personal insurance, insurers.

Insurance is one of the most dynamically developing areas of Russian business. The volume of transactions in the insurance market is growing steadily.

At the same time, over the years of market transformations it has not been possible to fully create a stable insurance market that meets the modern needs of society. The further development of insurance in Russia requires clarification of its role in solving the socio-economic problems of the state. Not all tasks defined in the Main Directions for the Development of the National Insurance System in the Russian Federation can be solved successfully. The development of insurance is negatively affected by:

• - the existing level of solvency and demand of citizens and legal entities for insurance services;
• - the incomplete use of the market mechanism in the field of insurance and, in particular, the underdevelopment of compulsory insurance, without which the voluntary insurance market cannot actively develop;
• - lack of reliable long-term placement instruments

insurance reserves;

• - limiting competition in some sectors of the insurance market in the territories, in particular, by creating affiliated and authorized insurance organizations;
• - lack of a system of measures to improve legislation on taxes and fees in the insurance services market;
• - low level of capitalization of insurance organizations, underdevelopment of the national reinsurance market, leading to the impossibility of insuring large risks without significant participation of foreign reinsurance companies and the unjustified outflow of significant amounts of insurance premiums abroad;
• - informational secrecy of the insurance services market, creating

problems for potential policyholders in choosing sustainable insurance organizations;

Imperfection of legal and organizational support

state insurance supervision.

Significant costs associated with liquidation of consequences have a negative impact on the state of the economy natural Disasters, accidents and disasters covered by budgetary funds and funds of citizens and legal entities. Due to a lack of funds, compensation for losses often occurs selectively, as a result of which the property interests of citizens and legal entities are largely infringed. Losses from business risks are also increasing. Cumulative types of long-term personal insurance do not fully meet the needs of citizens.

In these conditions, the development of the insurance business should be aimed at developing and implementing measures to meet the needs for insurance protection of the population, organizations and the state, contributing to the expansion of business activities and the accumulation of long-term investment resources for the development of the state's economy.

The main objectives of the development of the insurance business are:

• - formation legislative framework insurance market;
• - development of mandatory and voluntary types insurance;
• - creation of an effective mechanism government regulation and supervision of insurance activities;
• - stimulating the transfer of household savings to long term investment using long-term life insurance mechanisms;
• - gradual integration of the national insurance system with

international insurance market.

At current level In order to meet the effective demand for voluntary insurance services, compulsory insurance is a priority, which will create insurance protection for potentially risky groups of the population, legal entities, as well as significantly reduce the state's costs of compensating damage to victims of natural disasters, accidents and catastrophes.

In order to stop the practice of adopting regulatory legal acts containing declarative rules on compulsory insurance, it is necessary to create a legislative basis for compulsory insurance on the territory of the Russian Federation. The compulsory insurance system should provide for the effective protection of the state's property interests from natural disasters, accidents and catastrophes with minimal expenditure of budgetary funds. To do this, it is necessary to conduct an inventory of the relevant objects, determine their value, the risks from which the provision will be provided. insurance protection, and forms of insurance, as well as to find sources of insurance protection.

Compulsory insurance should be based on the principle of forming insurance reserves for compensation of damage and compensation for losses to insured persons and other beneficiaries and exclude the financing of measures aimed at concealing facts of mismanagement of organizations at the expense of policyholders. The adoption of legislative acts should be carried out on the basis of preliminary financial and economic study, confirming the possibility of solving the problems of insurance protection in a mandatory form and on the proposed conditions.

The development of compulsory insurance involves:

Strengthening control over the conduct of mandatory state

insurance, including compulsory insurance;

Introduction of types of compulsory insurance of objects subject to

significant risks and losses, citizens and legal entities who have suffered significant damage as a result of natural disasters, accidents and catastrophes (liability insurance of vehicle owners, insurance production facilities against man-made accidents, property insurance against fires and natural disasters, insurance in case of damage as a result of major accidents when moving dangerous goods).

In order to ensure insurance payments for compulsory insurance, centralized guarantee funds (insurance reserves) can be created.

The development of entrepreneurship involves the implementation of liability insurance for the production of goods, performance of work, provision of services, as a result of which harm may be caused to third parties, as well as the implementation of professional liability insurance for doctors, realtors, auditors, arbitration managers, etc. Introduction of liability insurance individual categories producers of goods and performers of works (services) will allow effective control over their activities, ensure the protection of the rights of consumers of services, especially in those areas of the national economy where there are no clear and effective mechanisms of state control and supervision. The development of insurance will have a positive impact on the entrepreneurial activity of citizens.

At the same time, attracting investment resources to the economy will require further development insurance of financial and business risks, development of insurance technologies in the field of industrial, transport, construction and agricultural risks.

The basis of the insurance services market and the reserve for its development is voluntary insurance. The priority areas in the development of voluntary personal insurance should be life insurance and pension insurance.

Life insurance is an important area of ​​the insurance business, a traditional and constant source of significant investment resources that contribute to successful economic growth. Demographic situation, characterized by an increase in the proportion of the population of older people age groups, and the transition to a funded system in pension insurance, including the independent formation by citizens of their own pension fund, involve expanding the participation of insurance companies in the implementation of pension insurance.

The incentive for the development of long-term life insurance should be the creation of a system of guarantees for policyholders and insured citizens in receiving accumulated amounts under insurance contracts. In addition to tightening regulatory requirements for the financial stability of insurers, specialization of insurance organizations should be introduced, excluding the provision of personal insurance (life insurance and pensions) and property insurance by one insurer. For these purposes, a classification of types of insurance activities should be developed, the features of the organization and implementation of life insurance and pensions should be determined.

It is necessary to develop measures to expand the scope and volume of voluntary medical insurance and voluntary accident insurance. These types of insurance should become an important element of the “social package” provided by employers to their employees.

Further development of voluntary medical insurance requires the formation legal framework, taking into account the specifics of this type of insurance, contributing to the improvement of the rules governing the interaction of health insurance entities, reflecting the peculiarities of taxation of health insurance operations.

An important area of ​​insurance development is improving the system of compulsory medical insurance for citizens in the Russian Federation. First of all, you need to go to insurance principle in the implementation of this type of insurance and other types of insurance that have a social orientation and complement the compulsory system social insurance and social security.

Insurance must play a significant role in pension reform.

Participation of insurers along with non-state pension funds in compulsory pension insurance, taking into account the specifics of the legal regulation of insurance, it presupposes compliance with the uniform principles of activity of the subjects of this insurance system established by law.

After measures are taken to develop compulsory and voluntary insurance, the volume of insurance operations will increase significantly, which means that the responsibility of insurance organizations for fulfillment will increase. accepted obligations under insurance contracts. This situation requires the adoption of legislative measures aimed at increasing minimum size authorized capital of insurers, the formation of which is carried out in cash.

It is necessary to develop measures to economically stimulate the founders of insurance organizations and capitalize the profits received to increase the size of authorized capital. In order to increase the competitiveness of Russian insurance organizations and in connection with Russia's accession to the World Trade Organization, it is necessary to take legislative measures aimed at increasing the basic minimum size of the authorized (share) capital of Russian insurers, formed in cash.

In order to increase the capacity of the insurance services market, it is necessary to develop measures to stimulate coinsurance and reinsurance.

Most insurers do not have significant financial resources and cannot insure large risks, however, by transferring part of the risks to the reinsurer, the insurance company can guarantee the fulfillment of its obligations to clients. However, to ensure such guarantees, it is necessary to develop legislative norms establishing limits on the insurer's obligations, standard provisions of reinsurance contracts, and also determine the rules of business turnover in the Russian reinsurance market.

The development of insurance and reinsurance should be stimulated by creating specialized insurance associations, expanding the participation of Russian insurers in international systems reinsurance and coinsurance agreements, the formation of guarantee funds and the use of other economically justified measures aimed at increasing the potential of national investors in the insurance services market.

These measures will also make it possible to streamline cross-border reinsurance and prevent the unjustified outflow of foreign currency funds abroad.

It is necessary to continue to further improve the taxation of insurance operations. The taxation regime for long-term insurance operations should become an incentive for individuals and legal entities to form effective protection against the most significant risks. These issues should be considered in line with the analysis of the practice of using Tax Code Russian Federation and regulations accounting in the context of the transition to international accounting and financial reporting standards.

One of the priority tasks in the development of the national insurance system is to improve investment policy, providing for the development and implementation of measures to create a favorable investment climate in the country, ensuring the expansion of areas for investing insurers' funds. In order to attract investments for the development of the country's economy and provide policyholders with the opportunity to use reliable forms of preserving their savings invested in insurance, it is advisable to coordinate the directions of investments of financial resources of insurance organizations, taking into account the types of insurance and the duration of contracts, establish standards for their investments, and separate investment flows for life insurance and other types of insurance, as well as to stimulate long-term investments.

The procedure for placing funds received as a result of compulsory types of insurance, as well as personal insurance of citizens, should minimize the risks of their investment. Problems of development of the insurance market should become the object of attention of the authorities exercising control over insurance activities in the insurance services market and antimonopoly regulation.

The effective functioning of the insurance services market involves the creation equal conditions activities for all insurance organizations on the territory of the Russian Federation, for which it is necessary to ensure:

• - strengthening control over the actions of government bodies at all levels that limit competition in the insurance market;
• - development of a system for holding open insurance competitions

organizations involved in providing insurance at the expense of budgetary funds;

Monitoring the activities of insurance organizations occupying

dominant position and preventing other insurance organizations from entering the market;

State control over the concentration of capital in the market

insurance services;

Improving the forms of statistical accounting and reporting of insurance organizations, including for the purpose of analyzing the competitive environment in the federal and regional markets for insurance services and determining the dominant position of insurance organizations in such markets.

An important condition for competition in financial services markets is the exclusion of state participation in the authorized capital of insurers.

The development of the insurance services market should be based on making decisions that provide, first of all, for improving the quality of functioning of the national insurance system in competition with insurers whose capital was formed with the participation of foreign investors. The process of liberalization of the insurance market in medium term should be based on the fact that insurance is the most important tool for the formation of long-term, most important for the development of the Russian economy, domestic investment resources.

Decisions on the nature and conditions of access of foreign insurance companies to the Russian market, made during negotiations on Russia’s accession to the World Trade Organization, will be of strategic importance, and therefore must take into account the growth rate of the Russian economy and insurance development.

The fundamental principle of Russia's integration into international financial and trade organizations is a gradual liberalization of the insurance services market in accordance with the priorities and level of development of individual sectors of this market. For these purposes, first of all, it is necessary to ensure:

• - formation of adequate international requirements regulatory framework;
• - bringing accounting and reporting provisions into

compliance with international standards;

Financial stability of companies operating in the national

insurance market;

• - creation of an insurance market infrastructure to serve policyholders, insured and other interested parties, including the protection of their rights;
• - creation of favorable macroeconomic conditions,

characterized by low and relatively stable level inflation, a decrease in the level economic crime etc.

In the medium term, insurance organizations that are residents of the Russian Federation, subject to the requirements of insurance legislation, must be allowed to participate in the insurance market. In addition, in order to increase the capitalization of the insurance services market, the scope of activity of Russian insurance companies should remain the compulsory insurance market (including state insurance), which is part of the insurance protection system, the property insurance market associated with the implementation of supplies or contract work for government needs, as well as property state and municipal organizations. Then decisions will be made on the procedure and timing of admission foreign organizations to implementation individual species compulsory insurance.

State supervision of insurance activities in the Russian Federation is carried out on the principles of legality, transparency, organizational unity of supervision and ensures the implementation of a unified public policy in the field of insurance. Into the sphere state supervision insurance activities should include the development of insurance business development plans, analysis financial situation founders (shareholders, participants, affiliates) and their shares in the authorized capital of an insurance organization, the procedure for reorganization and liquidation of insurance organizations, their solvency and financial stability. These provisions fully comply with international experience and insurance supervision standards.

Improving state insurance supervision over

activities of insurance organizations and other professional participants the insurance services market, as well as the protection of the rights and interests of its subjects, presuppose:

• - increasing the reliability of the insurance system by establishing uniform requirements and standards for the provision of insurance services used in international practice;
• - establishment of rules, regulations and indicators of solvency and financial stability based on reporting compiled in accordance with international standards for pricing insurance services;
• - financial recovery insurance company, including mandatory capital increase and application coercive measures for managing its assets;
• - establishment of insurance for professional participants

requirements for appropriate education and work experience in the specialty, allowing them to perform the functions assigned to them, as well as the implementation of measures that prevent access to the management of the insurance company for persons who have committed financial abuse.

Solving these problems will allow us to continue work on modifying the fundamentals of legislative regulation of insurance, which should meet the increasing level of development of the insurance business, and will require, in the medium term, the codification of legislation in the field of insurance.

The implementation of such events will allow:

increase the level of protection of organizations and citizens from various risk groups, improve the quality and expand the range of insurance services offered;

attract significant investment resources to the Russian economy;

solve priority tasks in the field of development of insurance in the Russian Federation and strengthening the system of state supervision of insurance activities;

create a structural basis for the development of voluntary insurance;

to form a system of legal foundations for insurance protection of property interests of the population, organizations and the state, compliance with the rights and guarantees of property security of an individual and the sphere of entrepreneurship.

In connection with the implementation of measures to improve the taxation of insurance operations, the development of long-term life insurance and pension insurance and the introduction of new types of compulsory insurance, there will be a further increase in the number of insurance contracts, the size of insurance payments and, as a consequence, an increase in the volume of financial resources in the insurance system and the provision of a wider circle of citizens and legal entities of insurance protection. The implementation of measures to develop insurance and improve the regulation of relations in this area will contribute to an increase in the total volume of insurance premiums and the volume of insurance payments. The growth in the volume of insurance premiums will allow insurers to accumulate additional financial resources, which will serve as a source of investment of financial resources in the country's economy.

The Russian insurance market has come a long way of development from completely open (until 1786) through partially open (since 1885) to closed to direct foreign insurance (from 1917 to the present). The insurance market in our country is still in its infancy. Most of the Russian insurance organizations that occupy leading positions in this sector are now 5-7 years old, while Western insurers have experience of many decades. However, even in such a short period of time, insurance in our country has become a fairly significant part of the Russian economy, and insurance companies, going along with our country along the difficult path to the national insurance market, have laid a reliable foundation for the formation of insurance relationships in various fields and sectors of economic activity.

Today, the structure of the insurance market includes insurance and reinsurance companies, insurance brokers, agents, professional bodies and associations; has two basic market segments - voluntary insurance - 60% and compulsory insurance - 40% of the total insurance premium.

Serious problems arise when sectors of the insurance market are monopolized. The variety of insurance products on the Russian market is much smaller than abroad, for example, in the USA there are 3 thousand types of insurance, in Europe - 400-500, and in Russia no more than 60.

The development of the insurance market is hampered by the low level of demand of legal entities and individuals for insurance services, both due to low income levels and the established distrust in the reliability of insurance organizations, the underdevelopment of market relations in the industry, the lack of a developed securities market in the country (which limits the possibilities of placement insurance reserves), imperfection of the insurance regulatory framework, as well as the lack of a system of measures to improve legislation on taxes and fees in the insurance market, the low level of capitalization of insurance organizations, as well as the underdevelopment of the national reinsurance market.

Solving the problems of insurance development in Russia will largely be determined by the role of the state. However, there is no consensus on the scope of the state’s presence in the insurance market, as well as on the methods and tools for regulating the insurance market by the state.

State regulation of the Russian insurance market should be primarily stimulating in nature and carried out in two main directions:

• - development of compulsory types of insurance;
• - tax incentives.

The development of compulsory types of insurance leads to a sharp increase in the volume of the country's insurance market both due to a direct increase in the client base and due to the growth of related sales of voluntary insurance policies.

The problem of tax incentives for the development of the country's insurance market is somewhat more difficult to solve.

Providing special tax regimes So far, it only provides for the attribution of premiums for certain types of insurance to the cost price (for example, when insuring property). For other types of insurance, such benefits are either provided insufficiently or not provided at all. These benefits are not provided for individuals at all.

State regulation of insurance should be based on the development of the most effective incentive mechanisms. At the same time, an analysis of statistical data shows that the possibilities for market growth through the introduction of compulsory types of insurance are not unlimited, and in recent years the share of compulsory insurance in the total volume of premiums has tended to decrease. A separate problem is determining the maximum limit insurance premium, which would be beneficial to both the policyholder and the insurer.

To purchase compulsory and voluntary insurance policies, the consumer must have a certain level of income, of which only a fixed portion can be spent on insurance services.

The most effective tool for stimulating the development of the Russian insurance market, in our opinion, is still tax incentives, the prospects of which today, unfortunately, are quite illusory.

At the same time, one cannot underestimate the possibility of using alternative methods of regulating the insurance market, including the use of its self-regulation mechanism, through the development professional standards quality of insurance services and flexible response to the needs of policyholders for higher quality insurance services. The use of the self-regulation mechanism is of particular importance in connection with the increase in the minimum base capital, which is determined by changes in the Law on the Organization of Insurance Business in the Russian Federation” - by 2007 it is necessary to bring the size of the authorized capital to the legally established minimum level of 30 million rubles. For organizations providing life insurance, the bar is set at 60 million rubles, and for reinsurers - 120 million rubles.

According to the Department of Insurance Supervision of the Ministry of Finance of Russia, it is possible to predict a reduction in insurance companies by more than 2 times, from 1,408 to 500-600 organizations.

Thus, the Russian insurance market is in transition to a qualitatively new stage of its development, which is characterized by increased concentration and centralization of capital.

Of course, Russian insurance has certain specifics. Not all trends Russian insurance correspond to global trends.

Compulsory insurance plays a much larger role than is customary in world practice, providing higher profitability than voluntary insurance. Mandatory types insurance in all developed countries are not considered highly profitable, but provide a stable income. The basis of the insurance services market and the reserve for its development is voluntary insurance, priority areas The development of which includes life insurance and pension insurance.

Life insurance is an important area of ​​the insurance business, a traditional and constant source of significant investment resources that contribute to successful economic growth.

Improving the regulatory framework of the insurance services market involves the development and implementation of measures to improve and develop the legislation governing insurance, and in particular:

• - creation of a legal framework for the activities of mutual insurance companies;
• - improvement of legislation on taxes and fees;
• - establishing the basics of compulsory insurance, as well as determining their priority types.

After taking measures to develop compulsory and voluntary insurance, the volume of insurance transactions will increase significantly. In this regard, the responsibility of insurance organizations for the fulfillment of accepted obligations under insurance contracts increases.

This situation requires the adoption of legislative measures to economically stimulate the founders of insurance organizations and capitalize profits.

In order to increase the capacity of the insurance services market, it is necessary to develop measures to stimulate coinsurance and reinsurance.

Most insurers do not have significant financial resources and cannot insure large risks.

The development of insurance and reinsurance should be stimulated by creating specialized insurance associations, expanding the participation of Russian insurers in international reinsurance systems and coinsurance agreements, forming guarantee funds and applying other economically justified measures aimed at increasing the potential of national investors in the insurance market.

It is necessary to improve the taxation of insurance operations, especially long-term insurance operations. It is necessary, in our opinion, to include in the list of social tax deductions expenses of citizens for insurance, as well as expand the list of expenses of organizations for various types insurance included in the costs accepted for deduction when calculating corporate income tax.

For the effective functioning of the insurance services market, it is necessary to strengthen control over the actions of government authorities at all levels that limit competition in the insurance services market.

In order to improve state insurance supervision over the activities of insurance organizations and other professional participants in the insurance services market, as well as to protect the rights and interests of its subjects, it is necessary to implement the following measures:

• - increasing the reliability of the insurance system by establishing uniform requirements and standards for the provision of insurance services used in international practice;
• - establishment of rules, regulations and indicators of solvency and financial stability based on reporting compiled in accordance with international standards for pricing insurance services;
• - financial recovery of the insurance company, including a mandatory increase in capital and the use of compulsory measures to manage its assets;
• - establishing a requirement for professional insurance participants to have appropriate education and work experience in their specialty, allowing them to perform the functions assigned to them, as well as implementing measures to prevent access to the management of the insurance company for persons who have committed financial abuse.

An important condition for competition in the financial services markets is the liberalization of the insurance services market, as well as the integration of the Russian insurance system with the global insurance system.

Thus, the main tasks for the development of the Russian insurance market are:

• - improving the regulatory framework of the insurance services market;
• - development of compulsory and voluntary types of insurance;
• - increasing the efficiency of state regulation and supervision of insurance activities;
• - encouraging the transfer of household savings into long-term investments using long-term life insurance mechanisms;
• - integration of the national insurance system with the international insurance market.