Insurance company risk management.

Abstract

The article describes approaches to risk management of an insurance company as a specific financial institution. Based on the system of protecting consumers from their own risks, insurers must create conditions not only to compensate for their losses, but also build a system of measures to minimize their own risks: operational, financial, market and other groups of risks, the effect of which is strengthened in the context of market competition and unstable economic and political condition in the country. Creating RMS in insurance companies is not a voluntary matter, this system is regulated by the requirements of the regulator and provides for the identification of risks, their assessment, building a risk map for each company, developing a risk management strategy and a set of annual measures to minimize and eliminate them. Risk management is considered as a structural element of the insurer's report. Which is contained either in the corporate report, in the company management report or in the notes to the financial statements. It can be noted that all companies provide information about the risks, but not all provide complete information about the construction and implementation of RMS. Formality of approaches to such a segment of company management reduces information transparency and the level of consumer confidence in them.