THE INSURANCE MARKET AS A DRIVER OF ECONOMIC SECURITY

Abstract

The article examines an important aspect of modern society - economic security and its connection to insurance. It analyzes the key components of economic security and highlights the role of insurance companies in its strengthening. It also attempts to define the essence of the insurance market, its significance for the economic security of society and the economy as a whole. In many countries around the world, the development of the insurance market has contributed to an increase in economic security. The insurance market is one of the most developed globally, playing a crucial role in ensuring financial stability for nations. The article explores the correlation between economic security and the functioning of the insurance market, which is one of the key components of economic security. The aim of the article is to investigate the role of the insurance market in ensuring the economic security of the country. The insurance market is a crucial element of the country's financial system, contributing to its stability and development. The development of the insurance market is a significant factor in increasing the economic security of the country. To ensure the effective functioning of the insurance market, state support and regulation are necessary. The article argues that the insurance market is a key driver of the country's economic security, providing protection for citizens and businesses against financial losses that may be caused by various circumstances. The article develops theoretical approaches to assess the impact of the development of the insurance market on the country's economic security. For the first time, the article conducts a comprehensive analysis of the role of the insurance market in ensuring the country's economic security. It is determined that the development of the insurance market contributes to: reducing risks in society; increasing investment activity; stimulating economic growth. The research findings can be utilized in the formulation and implementation of state policies regarding the development of the insurance market. The work provides a clear understanding of how the interaction between economic security and insurance impacts the social and economic development of the country. Highlighting these aspects is crucial for comprehending economic security and the role of insurance in ensuring societal stability.