Cargo Insurance in the Russian Federation: Current State, Efficiency and Development Paths

The article examines the cargo insurance segment in the Russian Federation. The trends of this type of insurance have been studied in connection with general economic factors, an analysis of its effectiveness for participants in insurance relations has been carried out, and ways of developing cargo insurance have been determined. The methodological basis of the study was the analysis of statistical data from the Central Bank of the Russian Federation and official statistics of Rosstat regarding the dynamics of gross domestic product, volumes of cargo turnover, cargo transportation and exports. The information obtained by the authors during the provision of consulting and other professional services to participants in the Russian insurance market was also used. As a result, differences in trends in the cargo insurance segment from the general market were identified. The hypothesis about the predominant influence of foreign economic activity on cargo insurance was confirmed. The efficiency indicators of cargo insurance, including the average payout ratio, have been studied. Proposals have been formulated for the development and implementation of state economic policy in the field of insurance of foreign trade cargo, aimed at overcoming political and economic restrictions in relation to the Russian Federation and its enterprises.