MODERN REALITIES AND PROSPECTS OF INSURANCE BUSINESS OF UKRAINE UNDER TRANSFORMATION PROCESSES
The current state of the insurance market of Ukraine is studied. The basic impacts and concerns of the market at present are analyzed. The necessity of the insurance market reforming and the adoption of basic development strategy are defined. The importance of implementing investment and social functions of the insurance market and its role in unloading state budget, the reform of the regulatory authority for the insurance market are considered. The basic perspective directions of development under political and economic crisis and the influence factors of market development are given. The necessity of evolution and reforming of some types of insurance, establishing of effective dialog between business and government, the creation of market mechanisms regulation of insurance companies and effective tools to protect foreign investors are considered.