EIJMRMS ISSN: 2750-8587
VOLUME04 ISSUE12
46
THE ROLE OF INSURANCE COMPANIES IN IMPROVING THE FINANCIAL CONDITION OF
AGRICULTURAL ENTERPRISES
Iskandarov Abdurasul Mirjalil Ugli
Associate Professor In Department Of " Finance", KEEI, Uzbekistan
AB O U T A RT I C L E
Key words:
Аgriculture, аgriculturаl enterprises,
risks relаted to the аctivity of аgriculturаl
enterprises, аgroinsurаnce, stаte support fo
r
insurаnce, risk mаnаgement
.
Received:
29.11.2024
Accepted
: 03.12.2024
Published
: 09.12.2024
Abstract:
The аrticle highlights the risks
аssociаted with the аctivities of аgriculturаl
enterprises аnd their clаssificаtion, аs well
аs the
issues of аchieving the effectiveness of providing
insurаnce services through stаte support, аnd
conclusions аre drаwn.
INTRODUCTION
On June 17, 2019, the Cabinet of Ministers of the Republic of Uzbekistan adopted decision No. 505 on
improving the insurance system for the future harvest of raw cotton and grain crops. According to this
decision, Insurance indemnities to be paid on the basis of the insurance contracts issued for the
insurance of cotton raw materials and bulk grain crops , cotton raw materials and grain crops Up to
80% of the total water insurance premiums received from agricultural enterprises are covered by
"Uzagrosugurta " JSC , and the remaining part of water insurance compensation is paid by the Ministry
of Finance of the Republic of Uzbekistan. It was determined that it will be financed through the budget
subsidy allocated to "Uzagrosugurta " JSC [1].
ANALYSIS AND RESULTS
Agriculture in our country is carried out in very difficult and unfavorable natural and climatic
conditions. Therefore, every year, agricultural producers suffer huge losses due to natural disasters:
drought, water shortage, frost, hail, strong winds, abnormal vibrations. High or low temperatures, heavy
rains, spring floods and other natural disasters are classified as emergencies according to approved
criteria. At the same time, the main damage to agricultural production comes from regularly recurring
VOLUME04 ISSUE12
https://doi.org/10.55640/eijmrms-04-12-07
Pages: 46-48
EUROPEAN INTERNATIONAL JOURNAL OF MULTIDISCIPLINARY RESEARCH
AND MANAGEMENT STUDIES
ISSN: 2750-8587
VOLUME04 ISSUE12
47
droughts. For the above reasons, damage to agricultural production significantly reduces its stability,
deprives important reserves of financial stabilization, as well as rural development in general. has a
negative effect.
The unpredictability of managing natural processes poses a great threat to agriculture. This increases
the susceptibility of agriculture to large losses, which in turn increases the need for insurance services
in this sector.
Thus, it allows us to conclude that the agricultural sector is the sector most affected by the forces of
nature. Therefore, agriculture needs insurance protection more than other sectors of the economy [2].
The importance of agricultural property insurance can be explained as follows:
-
to establish and use an insurance fund to compensate agricultural producers for damages caused by
natural disasters, other unexpected events and accidents.
-
is a type of social mutual assistance. Thanks to the insurance, it is possible to achieve efficiency in
dealing with the consequences of natural events for farms, and to determine the expenses directed
to this goal. This will create conditions for enterprises to confidently implement their goals, to
reduce the amount of losses related to various risks that may arise on the way to these goals;
-
it is important as a means of protection of agriculture and animal husbandry, and without this
means, the risk level of farms related to material losses would have increased;
-
ensures the stability of the movement of total funds in the economy, therefore, this tool is suitable
for farms, clusters and all other forms of agriculture operating in the agricultural sector is an
important area for the activities of enterprises;
-
ensures food security, covers production costs, improves the financial situation of the farm and, on
this basis, ensures the stability of the country's agricultural production. [2]
Therefore, the issue of creating the opportunity to use insurance services for all agricultural subjects is
becoming urgent. This problem is mainly solved with the support of the state.
CONCLUSIONS AND SUGGESTIONS
In conclusion, it can be noted that agriculture serves as an important strategic sector in ensuring the
social protection of the population of any country. In order to ensure the financial stability of
agricultural enterprises operating in this field, the most effective use of insurance services is to protect
them from various risks related to their activities. is an acceptable method.
EUROPEAN INTERNATIONAL JOURNAL OF MULTIDISCIPLINARY RESEARCH
AND MANAGEMENT STUDIES
ISSN: 2750-8587
VOLUME04 ISSUE12
48
For the developing Uzbekistan, in the current conditions, the state's material contribution to the
payment of insurance premiums paid to the insurance company for the full coverage of agricultural
enterprises with insurance services the introduction of a system aimed at support will give its result,
and through this it will be possible to achieve full insurance coverage of agricultural enterprises.
Achieving such a result is an opportunity for the insurer to form a large insurance reserve and reduce
tariff rates at the expense of insurance premiums paid by a large number of insured persons. as a result,
the insured will be relieved.
REFERENCES
1.
Oʻzbekiston Respublikаsi Vаzirlаr Mаhkаmаsining 2019
-yil 17-
iyundаgi “Pаxtа xom аshyosi vа
boshoqli don ekinlаrining boʻlgʻusi hosilini sugʻurtаlаsh tizimini tаkomillаshtirish toʻgʻrisidа”gi
505-
sonli qаrori.
2.
Грищенко Н. Б., Гриценко Г.М., Зимина А. П. Система сельскохозяйственного страхования:
теоретический аспект // Финансы и кредит. 2007. № 11.
3.
Сплетухов Ю.А. Проблемы проведения страхования урожая с государственной
поддержкой / Ю.А. Сплетухов // Финансы. 2007.
-
№ 12.
