The Optimal Parameters of Agricultural Insurance of Products in The Ukraine
DOI:
https://doi.org/10.25115/eea.v39i6.5165Keywords:
risks, insurance indemnity, insurance premium, franchise, marketAbstract
The article deals with the complex indicative forecasting of agricultural insurance parameters, which have approximate empirical dependences of variables and provide approximation of actuarial calculations of the franchise, in order to optimize the rates of insurance compensation for losses in agricultural production. The tools for minimizing the risks of agricultural production are substantiated. The typology of instruments for regulating the risks of agricultural production by transferring their risk distribution in the institutional environment and market infrastructure is studied. It is proved that vertical integration has a positive effect of compensation for losses of agricultural production, taking into account alternative diversification combinations with actual variables and the occurrence of a certain insurance event. Multicriteria optimization of the parameters of partial distribution of risks of agricultural production, which simultaneously provide the maximum possible value of the expected return with a minimum value of the risk of the portfolio of assets of agricultural enterprises, is fulfilled. The utility function for accidental consequences in agricultural insurance is substantiated, as it guarantees the effective indicator of income at variable values of uncertainty. Approximate empirical dependences of variables are determined, which provide approximation of actuarial calculations of the franchise, in order to optimize the rates of insurance indemnity in agricultural production. Models of indicative forecasting of optimal parameters of agricultural insurance on the market of agricultural products of Ukraine on insurance payments and insurance premiums, which have a decreasing function, have been developed; insured sum and franchise have dynamic fluctuations.
Downloads
References
Afanasev, V.N., & Yuzbashev, M.M. (2010). Time series analysis and forecasting. Moscow: Finance and Statistics, INFRA-M.
Agricultural insurance market of Ukraine in 2018. (2019). https://agro.me.gov.ua/ [Accessed Jan, 15].
Akhpanbaeva, A.A., & Esimzhanova, S.R. (2016). A marketing study into the quality of healthcare in the Republic of Kazakhstan. International Journal of Applied Business and Economic Research, 14(9), 5999-6014.
Aleskerova, Yu. (2013). Agricultural risk insurance: problems to be solved. Bulletin of Taras Shevchenko National University of Kyiv, 35, 38-41.
Bahvalov, N.S. (2007). Numerical methods. Moscow: Laboratory of Basic Knowledge.
Baranyk, Z.P., & Voitko, O.V. (2006). Estimation of the actual lost area of crops at the occurrence of the insured event in Ukraine. Economy and State: International Scientific and Practical Journal, 10, 38-42.
Barashkin, R.L., & Samarin, I.V. (2005). Computer system of simulating operating duty of a gaslifting well. 11th International Scientific and Practical Conference of Students, Postgraduates and Young Scientists; "Modem Techniques and Technologies", MTT 2005 – Proceedings (pp. 161-2). Tomsk: IEEE.
Barbotkina, E., Dunaieva, I.E., Popovych, V., & Pashtetsky, V. (2020). Review of methods and approaches of abandoned lands identification. E3S Web of Conferences, 224, 04004.
Bekkerman, A., Goodwin, B., & Piggott, N. (2008). Spatio-temporal risk and severity analysis of Soybean rust in the United States. Journal of Agricultural and Resource Economics, 33(3), 311-31.
Burtniak, I.V., & Malytska, H.P. (2019). Forecasting of economic and social processes. Ivano-Frankivsk: Vasyl Stefanyk PNU Publishing House.
Chkan, I.O. (2016). The financial sector of Ukraine in the context of globalization. Collection of Scientific Works of the Tavriya State Agrotechnological University (Economic Sciences), 3(32), 270-5.
Collection “Ukraine-2018” (2019). https://ukrstat.org/uk/druk/publicat/kat_u/2019/zb/07/Ukr_cifra_2018_u.pdf [Accessed Jan, 14].
Cummins, J.D., & Mahul, O. (2009). Catastrophe risk financing in developing countries: principles for public intervention. Washington: World Bank.
Dercon, S. (2002). Income risk, coping strategies and safety nets. World Institute for Development Economics Research, United Nations University, 22, 1-44.
Diegtiar, O.A., Hornyk, V.H., Kravchenko, S.O., Karlova, V.V., & Shtal, T.V. (2020). Improving public water resources policy in Ukraine: Municipal and environmental issues. Journal of Environmental Management and Tourism, 11(3), 669-75.
Dudar, T. (2019). Development of innovation in the agricultural sector of Ukraine. Bulletin of Ternopil National Economic University, 1, 60-9.
Durakovic, B., Demir, R., Abat, K., & Emek, C. (2018). Lean manufacturing: Trends and implementation issues. Periodicals of Engineering and Natural Sciences, 6(1), 130-9.
Gendler, S.G., Grishina, A.M., & Samarov, L.Y. (2019). Assessment of the labour protection condition in the vertically integrated coil companies on the basis of risk-based approach to analysis of industrial injuries. Innovation-Based Development of the Mineral Resources Sector: Challenges and Prospects – 11th conference of the Russian-German Raw Materials, 1, 507-14.
Kasakova, A.S., Yudaev, I.V., Mayboroda, S.Y., Taranov, M.A., Ksenz, N.V., & Chronyuk, V.B. (2019). Prospects for the use of stimulation by electric field of old cereal seeds. Asia Life Sciences, 1, 229-39.
Kasimov, Yu.F. (1998). Basics of the theory of the optimal portfolio of securities. Moscow: Filin.
Kirillov, A.V. (2012). Statistics. Part 1. General theory of statistics. Samara: SSAU Publishing House.
Koshkalda, I., Sheludko, L., Dotsenko, A., & Zelenskyi, M. (2021). Development of an algorithm for state food security policy. Estudios De Economia Aplicada, 38(4), 3967.
Kostetskyi, V. (2012). The place and role of insurance companies in the institutional structure of the financial market. Galician Economic Bulletin, 3(36), 86-94.
Markowitz, H. (1992). Mean variance analysis in portfolio choice and capital markets. Oxford; Cambridge: Blackwell.
Mazniev, H.Ie. (2017). Management of innovative development of agricultural enterprises. Actual Problems of Innovative Economy, 2, 32-41.
Miranda, M.J., & Glauber, J.W. (1997). Systemic risk, reinsurance and the failure of crop insurance markets. American Journal of Agricultural Economics, 79(1), 206-15.
Mishchenko, S., Naumenkova, S., Mishchenko, V., & Dorofeiev, D. (2021). Innovation risk management in financial institutions. Investment Management and Financial Innovations, 18(1), 191-203.
Morhenshtern, O., & Fon Neiman, Dzh. (2012). Game theory and economic behavior. Moscow: Book on Demand.
Mykhailov, A., Makarova, V., Kapinos, N., & Petrova, N. (2021). Land management’s development in the period of land relations reform in ukraine. Estudios De Economia Aplicada, 38(4), 1-9.
Orazgaliyeva, E., & Yessimzhanova, S. (2018). Marketing management of the competitive advantages of pharmaceutical companies. Journal of Applied Economic Sciences, 13(7), 1975-83.
Pashtetsky, V.S., Khomenko, V.V., Demchenko, N.P., Poliakova, N.Y., & Kashbrasiev, R.V. (2020). Sustainable and competitive agricultural development of a water-deficient region (Case of the Crimean Peninsula). Geography, Environment, Sustainability, 13(2), 65-72.
Polinkevych, O.M. (2018). Strategies and technologies of innovative development of corporations. Lutsk: Vezha-Druk.
Rubtsov, M.O., Kravets, V.I., & Nazarova, O.P. (2015). Higher mathematics. Melitopol: Publishing House of Melitopol State Pedagogical University named after Bohdan Khmelnytsky.
Rubtsova, N., Korneev, V., Pasichnyk, Yu., Radchenko, O., & Khodzhaian, A. (2020). Analysis of the grain insurance market in Ukraine. In: Gesellschaftsrechtliche Transformationen von wirtschaftlichen Systemen in den Zeiten der Neo-Industrialisierung. Nuremberg: Verlag SWG imex GmbH.
Rubtsova, N.M. (2018). Optimization of the cost of agricultural insurance contracts under forward contracts. Collection of Scientific Works of the Tavriya State Agrotechnological University (Economic Sciences), 2(37), 221-8.
Rubtsova, N.M. (2019). Insurance protection of enterprises of the agricultural sector of the economy and rural areas: methodological and practical approaches. In: Financial support of socio-economic development of rural areas in terms of increasing the independence of regions. Melitopol: MMD Publishing House.
Rudenko, M.N. (2020). Development of a sustainable mechanism for the economic security of the region. Rivista di Studi sulla Sostenibilita, 2020(2), 33-47.
Rudenko, M.N., Goloshchapova, L.V., Savvina, O.V., Zamkovoy, A.A., Chernikova, N.V., & Andryushchenko, O.G. (2016). Innovative activity of financial and industrial groups. International Journal of Economics and Financial Issues, 6(S8), 108-14.
Sabluk, P.T. (2010). Innovative activity in the agrarian sphere: Institutional aspect. Kyiv: NSC IAE.
Sakhno, O.V. (2010). Agricultural insurance in Ukraine: current status, problems and prospects. AgroWorld, 9, 12-6.
Saparbayev, A., Saparova, G., Makulova, A., Imatayeva, A., & Abdulkhalil, A. (2020). Methodology of the research of organizational and economic bases of development of agro, ethno and spiritual tourism in the Kazakhstan. E3S Web of Conferences, 159, 04010.
Shalbolova, U.Z., Yegemberdiyeva, S.M., Uderbayev, S.S., Elpanova, M.A., & Kazbekova, L.A. (2014). Specifics of oil pipeline systems' risks management. Life Science Journal, 11(11), 591-4.
Shpykuliak, O.H., & Hrytsaienko, M.I. (2016). Development of innovative activity in the agricultural sphere: Management and efficiency. Kherson: OLDI-PLUS.
Shtal, T.V., Uvarova, A.I., Proskurnina, N.V., & Savytska, N.L. (2020). Strategic guidelines for the improvement of logistic activities of trade enterprises. Journal of Information Technology Management, 12(3), 69-81.
Shubravska, O.V. (2017). Resource opportunities for the development of the agricultural sector of the economy of Ukraine. Kyiv: Institute of Economics and Forecasting of the National Academy of Sciences of Ukraine.
Shumpeter, Y.A. (2001). History of economic analysis. St. Petersburg: School of Economics.
Sivash, O., Ushakov, D., & Ermilova, M. (2019). Investment process resource provision in the agricultural sector. IOP Conference Series: Earth and Environmental Science, 272(3), 032118.
Smith, V.H., & Goodwin, B.K. (1996). Crop insurance, moral hazard and agricultural chemical use. American Journal of Agricultural Economics, 78, 428-38.
Starychenko, Y., Skrypnyk, A., Babenko, V., Klymenko, N., & Tuzhyk, K. (2021). Food security indices in ukraine: Forecast methods and trends. Estudios De Economia Aplicada, 38(4), 4000.
Statistical publication of the Regions of Ukraine. (2018). http://www.ukrstat.gov.ua/druk/publicat/kat_u/2018/zb/11/zb_ru1ch2018.pdf [Accessed Jan, 14].
Swiss, R., & Voutilainen, R. (2007). Ban assurance: emerging trends, opportunities with search for the best alliances structure between banks and insurance accompanies. Sigma, 5, 39-46.
Tastulekov, S.B., Shalbolova, U.Zh., & Satova, R.K. (2019). Public-private partnership formation in Kazakhstan. Academy of Strategic Management Journal, 18(5), 1-8.
Trusova, N.V., Tanklevska, N.S., Synchak, V.P., Prystemskyi, O.S., & Tereshchenko, M.A. (2020). State support of agro-insurance of agricultural risks in the market of goods derivatives of Ukraine. Industrial Engineering & Management Systems, 19(1), 93-102.
Varangis, P., Larson, D., & Anderson, J. (2002). Agricultural markets and risks: management of the latter, not the former. Washington: World Bank
Vereshchaha, V.M., Pavlenko, O.M., Adoniev, Ye.O., & Rubtsov, M.O. (2019). Geometric method of interpolation of a point polynomial in parametric form. Modern Problems of Modeling, 16, 28-139.
Voitko, O.V., Motoryn, R.M., & Baranyk, Z.P. (2001). Method of determining crop yield losses in case of insured event. Kyiv: Publishing Research Center.
Vovchak, O.D., & Zaviiska, O.I. (2005). Insurance services. Lviv: Compact-LV.
