The role of insurance intermediator in the assurance of insurance market stability

Abstract

In this article the specific and particular qualities of the role of insurance intermediators in the assurance of stability insurance market in the Ukraine are investigated. These types of insurance intermediators as insurance agents and insurance brokers because of differences in the insurance market are analyzed.

The differences between roles of insurance agents and insurance brokers in the assurance of stability insurance market are investigated.  The insurance market is complicated integral system, that consists from different parts. PThey are the market of one who insures, the market of one who is insured and the market of іnsurance intermediator. The their work influences the effectiveness and stability of insurance market. Straight intermediators assure the stability of insurance market by working for increase of people trust for insurance as institute of real and effective defense of property and social interests of people. It provokes another aspect of stability, that depends on work of insurance intermediators, growth of actives of insurance companies, differences of insurance payments, types of contracts. It is underlined, that insurance agents are those who work on behalf of insurance company; insurance brokers are those who work on the basis of broker contract with the one who is insured.

The understanding of the general problems in the functionality of insurance market in the Ukraine due to the role of insurance intermediators is presented in the article. The general ways of increasing  of effective role of insurance intermediator in the assurance of stability of insurance market are defined. It is accented that for stabilization of insurance market the state politic is important, especially it concerns the normative documents for explanation of broker acts in case of problems. It is important to increase the trust of people who are insured for brokers. It underlines the necessity of insurance.

The necessity to improve the laws, to accept positions for regulation of relationship between insurance brokers and insurance companies, to change the procedure of registration of insurance brokers, to increase of insurance culture of population has become the main task of the research. In general, effectiveness of insurance intermediator work, its accordance to European and world principles and influence on the stability of insurance market are considered in the article.