The implementation of the international experience of regulation of contruction risk insurance
AbstractThe article is devoted to the study of the international experience of insurance risks’ administration in construction industry and the possibility of its use in Ukraine. It has been underlined in the article that the pace of growth of construction industry depends on socio-economic development of social production in general, which leads to the need to create favorable conditions for the construction business. In this regard, as it has been stated in the article and knowing about the critical importance of the construction industry in the national economy, it is necessary to develop and engage appropriate governmental mechanisms of regulation of construction risks insurance. It is important to study and to analyze the best European practices in this sphere. The essence and principles of insurance of construction risks in the USA (specific feature of the USA insurance market is the lack of a unified system of governmental insurance), the UK (special authority of insurance regulation in the Department of Trade and Industry has very extensive powers on organization and control as well as it influences greatly activities of insurance companies), Germany (insurance market is divided between the two systems – governmental insurance and private insurance companies), Japan (insurance is carried out by private insurance companies, governmental organizations and cooperatives), Poland (feature of the Polish insurance market is the powerful consolidation of its structure), the Russian Federation (insurance is comprehensive and is based on specific insurance rules that allow providing insurance protection on conditions «with responsibility from all risks») and other countries have been studied in the article. The analysis of the international experience of risk insurance administration in construction area has allowed making the conclusion that insurance risk, which is connected with construction activities, extends to complex and expensive production technologies. Creation and use of such technologies is associated with the risk of accidents that cause the significant damage to their owners in developed countries. Such insurance of construction risks is especially developed in the USA, the UK and several other European countries. Some types of insurance that have their own features have been pointed out, such as: construction and installation insurance, including liability insurance to third parties in the construction and installation works; cars insurance from accidents; electronic equipment insurance; insurance of mobile equipment, including drilling; security engineering structures insurance (piers, dams, etc.)In general, governmental regulation of insurance activity in construction area is implemented in such forms as: the formation of the legal framework, the implementation of insurance supervision and control, the registration and licensing of the insurance. The regulation of the insurance sector is diverse in its nature. Processes of the regulation of the insurance business have to consider a number of diverse interests of both insurers and insurance holders. The effectiveness of the regulation depends on the fullness of consideration of long-term market factors.
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