Unfair rivalry between traditional and corporate insurers in the Russian insurance market

DOI

10.2991/ispcbc-19.2019.153How to use a DOI?

Keywords

banks, corporate structure, corporate insurance companies, unfair competition, advantages, risk, insurance market of the Russian Federation, traditional insurance companies

Abstract

In the time of globalization of the World community, one of the most important directions of development of the modern state is humanism, the main idea of which is the exceptional value of human life. Due to this, the primary task of the functioning of any civilized country is to take care of its citizens, as well as improving the socio-economic aspects of society. In the context of the market system of the economy, private sector structures are involved in the improvement of the social environment on an equal basis with the state. Thus, a significant contribution to the improvement of the socio-economic situation of the population of the country is carried out by such economic entities as insurance companies. They ensure financial protection of the company from possible consequences of adverse events through their activities. The insurance market of Russia is currently at the stage of its development, which is reflected in the presence of many problems and obstacles that have a negative impact on the effective implementation of financial and economic activities of insurers. One of these problems is unfair competition between traditional and corporate insurance companies, which increases the risk of violation not only of the insurance market, but also of the Russian economy as a whole. The article deals with the essence of unfair competition, the features and causes of its occurrence between traditional and corporate insurers, the consequences to which it can lead as a result of further development, and methods of combating it.

Copyright

© 2019, the Authors. Published by Atlantis Press.

Open Access

This is an open access article distributed under the CC BY-NC license (http://creativecommons.org/licenses/by-nc/4.0/).

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TY  - CONF
AU  - A. Panteleeva
AU  - S. Petrov
PY  - 2019/08
DA  - 2019/08
TI  - Unfair rivalry between traditional and corporate insurers in the Russian insurance market
BT  - Proceedings of the International Scientific-Practical Conference “Business Cooperation as a Resource of Sustainable Economic Development and Investment Attraction” (ISPCBC 2019)
PB  - Atlantis Press
SP  - 5
EP  - 8
SN  - 2352-5428
UR  - https://doi.org/10.2991/ispcbc-19.2019.153
DO  - 10.2991/ispcbc-19.2019.153
ID  - Panteleeva2019/08
ER  -