Obligatory insurance system: concept and features

The article is devoted to the study of the modern system of obligatory insurance in the Russian Federation. The author characterizes the functional subsystems included in the structure of obligatory insurance and defines their features. The relevance of the research topic of this article is determined by the fact that obligatory insurance in Russia is a growing type of financial activity that contributes to the economic stability of society. Obligatory insurance in modern Russia is a complex system with strategic goals and effective ways to achieve it. In confirmation of the above, it should be noted that during the financial crises of 2008, 2014 and the global pandemic of 2020, the organization of obligatory insurance has demonstrated its effectiveness. At this time, it was possible to maintain the stability of the socio-economic sphere of the country and avoid a sharp outflow of deposits, which contributed to the stability of the banking system. The social relations in the field of obligatory insurance implemented in the course of financial activity represent a certain system of economic relations having a strictly directed sequence regulated by the state. The formation of the obligatory insurance system is determined by the development of the insurance market. An important factor in this development is a balanced and consistent macroeconomic policy, which is based on financial stability. The article pays special attention to the structuring of the obligatory insurance system as the fundamental elements of the functioning of insurance activities. The author identifies the key subsystems that directly affect the organization of the insurance business in Russia, and also identifies the present modern problems and identifies ways to eliminate them. Special attention is paid to the control and supervisory subsystem of obligatory insurance, which determines the composition of the subjects of insurance supervision, the functions and tasks of implementing the control and supervisory powers of the executive and administrative bodies and the Central Bank of Russia. The author emphasizes the need to apply preventive measures in the implementation of insurance supervision to subjects of obligatory insurance.

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