Insurance of Financial Risks of Industrial Enterprises

Abstract

The article discusses the theoretical and practical aspects of the development of the market for insurance of financial risks of industrial enterprises. Theoretical studies have revealed that the total insurance protection of industrial enterprises is represented by property insurance, business risk insurance, civil liability insurance and personal insurance. In their research, the authors turned to foreign sources and studied the features of insurance of industrial enterprises abroad. In foreign practice, these areas of insurance have become widespread, but in Russian practice they are never used. However, the authors have identified a narrow list of insured financial risks of industrial enterprises in Russia. In Russia today, only insurance in case of production stoppage has become widespread. The authors attempt to consider one of the poorly developed insurance industries in Russia, as insurance of financial risks of industrial enterprises, to show the problems of this insurance industry and determine ways to solve them. The analysis showed that the leader of the insurance market in terms of collected premiums is property insurance. Premiums for financial risk insurance are increasing due to the growth of bank card insurance. The authors, when studying large and mediumsized businesses, found that large enterprises use business insurance, avoiding gray "salary" schemes and cover a large amount of various risks. However, some companies use "double" accounting in their practice, which makes it difficult for insurers to determine the real level of risk of their business. The small number of insurance companies and the unwillingness of insurers to provide financial risk insurance services for industrial enterprises are the main problems today. The authors propose to adopt standard insurance rules in this area.