VIEWS OF WESTERN SCIENTISTS ON THE ESSENCE OF INSURANCE

Authors

  • Rafiyeva Zarina Xusanovna,Egamberdiev Abbos Ilyosovich Teacher,Samarkand Institute of Economics and Service

Keywords:

insurance, risk, economic theory, Western scientists, behavioral economics, social protection, underwriting, legal approach, risk theory, risk management

Abstract

This paper examines the main theoretical approaches of Western scientists to defining the essence of insurance. The analysis covers the economic, legal, behavioral and sociological aspects of insurance as a mechanism for protecting against risks. The views of such authors as Frank Knight, Kenneth Arrow, Harold Laski, Richard Thaler and others are presented. It is shown that insurance is interpreted not only as a financial instrument, but also as an essential element of the social and legal system of society. The study emphasizes the versatility of insurance and its importance in modern conditions.

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References

Naminova K.A. "Conditions for Ensuring Financial Stability of Insurance Organizations" 25 (553) - 2013.

Nikulina N.N. Insurance Management: a textbook for university students studying in the specialties "Finance and Credit", "Accounting, Analysis and Audit", "Commerce", "Anti-Crisis Management" [Text] / N.N. Nikulina, N.D. Eriashvili. - M .: UNITY-DANA, 2011. - 703 p.

Penyugalov A.V. "Analysis of Financial Stability of Insurance Companies Based on Qualitative Methods" [Text] / A.V. Penyugalov, N.N. Avedisyan 35 (78-2011).

Khudyakov A.I. Insurance Theory. M.: Statute, 2010. 656 p.

Insurance: textbook / ed. prof. I.P. Hominich. M.: Master: INFRA-M, 2011. 624 p. (Bachelor's degree). URL: https://znanium.com/catalog/product/248547.

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Published

2025-05-19

How to Cite

Rafiyeva Zarina Xusanovna,Egamberdiev Abbos Ilyosovich. (2025). VIEWS OF WESTERN SCIENTISTS ON THE ESSENCE OF INSURANCE. Journal of Applied Science and Social Science, 15(05), 89–91. Retrieved from https://www.internationaljournal.co.in/index.php/jasass/article/view/1048

Issue

Vol. 15 No. 05 (2025): Journal of Applied Science and Social Science

Section

Articles

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