Nsurance as a source of refunds to the population in the natural and man-made disasters.

Abstract

The statistics on annual losses which are caused by the natural disasters, manmade disasters and other cataclysms on the global economy are provided in the article. The sources of compensation of expenses for the restoration of infrastructure in the affected areas and compensation to the population in case of major emergency events are reviewed. The ways of reducing the budgetary burden by the effective implementation of insurance mechanisms are examined. A comparative analysis of the role of insurance companies of Ukraine and the insurers of other countries in case of occurrence of hazardous events is made. It is concluded that in Ukraine and so far the insurance market has not become an integral part of the financial system of the state. The problematic sides and discussion questions about the necessity of concluding of certain types of property insurance of citizens, including future in mandatory form are reviewed. The suggestions on strengthening of insurance protection of citizens by the introduction of new types and programs of insurance are provided.