MODEL OF FINANCIAL RISK-MANAGEMENT MODEL OF THE INSURANCE COMPANY
UDC 005:368.025.6
LANH Sergiy,
Postgraduate of Insurance Department of National Economic University named after Vadym Hetman
Background. Efficiency of the insurance mechanism depends on the ability of the insurance company to fulfill obligations under the contract that is why assessing and forecasting the financial condition of an insurer (taking into account different variants of financial risk influence) is provided by effective system of financial risk-management. Therefore, the system of financial risk-management of the insurance company is a key element of insurance management and a subsystem of insurance management that makes the research relevant.
The aim of the article (research) is to elaborate model of financial risk-management system of the insurance company by implementing existing achievements and developments of financial risk-management of an insurer.
Materials and methods. In the course of research comparison, analysis, induction and deduction methods were used.
Results. Organizational (legislative requirements for the management, strategy and implementation of this process) and processing (sequence of steps) approaches to the system of financial risk-management of insurance organizations were considered in the article. The administrative model of a financial risk management system of the insurer was offered. It combines the described approaches regarding the organization of the system, and describes the administration of the internal aspect.
Conclusion. The practical value of the proposed model is that it describes the aspect of implementation of legislative requirements and theoretical approaches to the organization of the risk-management system of the insurer within the framework of its main activities.
Keywords: financial risk of the insurance company, financial risk-management system of the insurance company, insurance management, risk-management.
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LANH Sergiy,
Postgraduate of Insurance Department of National Economic University named after Vadym Hetman
MODEL OF FINANCIAL RISK-MANAGEMENT MODEL OF THE INSURANCE COMPANY
Background. Efficiency of the insurance mechanism depends on the ability of the insurance company to fulfill obligations under the contract that is why assessing and forecasting the financial condition of an insurer (taking into account different variants of financial risk influence) is provided by effective system of financial risk-management. Therefore, the system of financial risk-management of the insurance company is a key element of insurance management and a subsystem of insurance management that makes the research relevant.
The aim of the article (research) is to elaborate model of financial risk-management system of the insurance company by implementing existing achievements and developments of financial risk-management of an insurer.
Materials and methods. In the course of research comparison, analysis, induction and deduction methods were used.
Results. Organizational (legislative requirements for the management, strategy and implementation of this process) and processing (sequence of steps) approaches to the system of financial risk-management of insurance organizations were considered in the article. The administrative model of a financial risk management system of the insurer was offered. It combines the described approaches regarding the organization of the system, and describes the administration of the internal aspect.
Conclusion. The practical value of the proposed model is that it describes the aspect of implementation of legislative requirements and theoretical approaches to the organization of the risk-management system of the insurer within the framework of its main activities.
Keywords: financial risk of the insurance company, financial risk-management system of the insurance company, insurance management, risk-management.
FREE FULL TEXT (PDF)