TIMELINE AND DEVELOPMENT OF MODERN AGRICULTURAL INSURANCE SYSTEM IN RUSSIA
The article presents the analysis of historical development of insurance system of agricultural production from 1993 to the present day. The authors have considered the main stages of development of insurance relations with their regulatory and legislative framework, identified the problems of the modern agricultural insurance market, and analyzed the measures aimed at solving them. Research on the existing system of insurance of agricultural risks from 1993 to 2019 showed that the development of this industry has achieved certain positive results. For instance, animals and aquaculture were included in the agricultural insurance system with state support. The list of insurance risks and the list of insurable agricultural crops and animals were expanded. The National Union of Agricultural Insurers was created. The requirements for insurers accepting agricultural risks for insurance were toughened. The threshold of crop failure was abolished. It became possible to choose the risks to be included in the contract. Legislative framework was provided for satellite monitoring under the contracts of agricultural insurance of crops with state support. The funds allocated to support agricultural insurance were granted a «protected status» as part of an «integral subsidy». Despite significant positive changes in the development of the modern agricultural insurance system, there are still some problems that require certain improvements and their subsequent implementation. The authors believe that for this purpose it is necessary to introduce index insurance based on income, yield and weather indices. Flexible insurance products for agricultural insurance risks should be implemented. It is also necessary to develop atypical insurance programs that would take into account the specific features of a particular insuring party. State support for agricultural insurance should be financed to the extent that corresponds to the demand for insurance services. Insuring parties should be provided with state guarantees under insurance contracts with state support. The procedures for obtaining subsidies should be simplified. The implementation of the proposed measures will improve the mechanism of insurance of agricultural production and increase the interest of agricultural producers and insurers.