DYNAMICS, CHALLENGES AND OPPORTUNITIES OF INSURANCE MARKET DEVELOPMENT IN GEORGIA

Abstract

The dynamic development and expansion of the insurance market is one of the important foundations of the development of the financial market, due to the fact that the dynamics of the development of the insurance market and the challenges it faces are a decisive factor in the insurance protection and economic security of society.

The main goal of the paper is to study and investigate the dynamics of the development of the insurance market in Georgia and the challenges it faces in recent years, because the study of the insurance market and its detailed review allow us to see the current problems and ways to solve them. The stages of formation, formation and development of the insurance market in Georgia, the state regulation of the insurance market, the unique insurance programs supported by the state and the achieved results, the challenges and opportunities facing the insurance market are analyzed.

It is true that significant successes and results have been achieved in this field in recent years, but in Georgia, both the financial market and the insurance market and the insurance business still cannot adequately meet complex insurance needs and provide global insurance protection.

Key words: insurance market; insurance business; Insurance protection; risk;  insurance regulation.