economic basis for the implementation of a protective function by agricultural
insurance (the level of payments was only 12.9% in 2015). Consequently, we conclude
that the use of insurance coverage as a way of minimizing agricultural risks in the
country is weak and mostly formal.
Domestic market of agricultural insurance is characterized by the unembodied list
of participants and fundamental change in the market share of insurance companies. In
2013, 84% of the agricultural insurance market was owned by the companies –
members of the AIP: “Insurance Company “Dominanta”, “Insurance Guarantees of
Ukraine”, “Insurance Company “Brokbusiness”, “UJSIC ASKA”; 16% – to other
insurance companies, including “Ingo Ukraine”, “PZU Ukraine”, etc. [12].
In 2015, only 7.6% of the concluded contracts and 3.7% of the insured area have
been accounted on the companies, members of the AIP. The leaders of the agricultural
insurance market were “PZU Ukraine” (28.1% of the concluded contracts, 20.1% of
the insured areas), “Ingo Ukraine” (15.3% of contracts, 29.1% of the insured area) and
“AXA” (16% and 16.7% respectively). Only 20% of insurance companies with a
corresponding license carry out insurance of agricultural risks. This indicates a lack of
attractiveness of agricultural insurance for insurance companies.
A rather limited list of insurance products is used on the market. The
overwhelming majority of deals are concluded from the insurance of winter crops from
total death during the winter hibernation. The share of such contracts amounted to
93.9% in 2015 and increased to 97.9% in 2016.
The development of practical recommendations for the agricultural insurance
market development in the country on the basis of sustainable development requires
the use of scientifically-based methods of analysis. Given the specifics of this market
analysis of quantitative indicators should be supplemented by an assessment of its
qualitative characteristics. We have used the SWOT analysis as an important diagnostic
procedure that allows us to assess the initial state, unused resources and threats in the
domestic agricultural insurance market.
Based on the developed model (SWOT-matrix) (Table 2) it was determined that
insurance of agricultural producers creates opportunities for implementation of all
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