Aviation Risk Insurance: Types, Importance, Market under Sanctions Restrictions

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Abstract

The article is devoted to the study of the significance, features, types and state of the aviation risk insurance market in the context of modern sanctions restrictions. The leading and stimulating role of the insurance institution in the development of the Russian air transport industry is highlighted. The importance of insurance is emphasized, which provides financial protection functions and supports the overall economic stability of airlines, provides space for maneuvering and development, covering many obligations and preventing the need to form huge reserves for possible losses. The features of aviation risk insurance are determined, with clarification of changes associated with the unprecedented sanctions restrictions of the countries of the collective West. Some cases of the positive influence of insurance organizations on the condition of aviation companies and the reduction of aviation risks are clarified. Based on the results of the study, conclusions are drawn about the challenges facing domestic insurance related to the creation of a new insurance infrastructure, with the inclusion of reliable partners and reinsurers, with the concentration of capital and coverage of insurance risks.

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About the authors

Kirill O. Khroni

The Russian Presidential Academy of National Economy and Public Administration; INTEK-CONSULTING LLC

Author for correspondence.
Email: spiavia@gmail.com
SPIN-code: 6181-1000

postgraduate student; CEO

Russian Federation, Moscow; Moscow region, Roshal

Alexander S. Millerman

The Russian Presidential Academy of National Economy and Public Administration

Email: millerman-as@ranepa.ru
SPIN-code: 7676-3207

Dr. Sci. (Econ.), Associate Professor, Head of the Department of Finance and Insurance of Institute of Economics, Mathematics and Information Technology

Russian Federation, Moscow

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