The State Regulation Mechanism for the Insurance System Development in Ukraine

The purpose of the research is to suggest scientific approaches to prove the necessity of conducting state regulation, to construct a mechanism for the state regulation of the insurance system and to find some opportunities to improve this mechanism in order to develop both the insurance system and the national economy. The article analyzes the conceptual and categorical framework of the theory of the state regulation of the insurance system and considers various approaches to understanding the concept of the state regulation mechanism in the insurance sector. The main specific features of the state regulation in the insurance market, one the one hand, and the state regulation in the insurance system, on the other hand, is highlighted. It is determined that the development of the insurance system is influenced by a combination of factors, so the system’s regulation provided by the state acquires specific features subject to the time, country and economic policy adopted. A new take on the concept of the state regulation of the insurance system is proposed, defining it as the application of the state leverage to influence the bunch of elements that ensure the effective performance of the insurance system in order to achieve its stable development and economic growth. A mechanism of state regulation of the insurance system development has been built, which should include the following elements: the strategic goal, tasks, subjects, objects, principles, functions, methods and tools, forms of the state regulation and factors influencing the insurance system development. The following principles of the state regulation of the insurance system development are highlighted: sufficiency, adequacy, consistency, openness, fairness, expediency, efficiency, stability. The following forms of the state regulation have been studied: statutory regulation, administrative regulation, antitrust regulation, tax regulation, price regulation, financial monitoring.