Law aspects of life insurance development in the Republic of Macedonia

Rechkoski, Risto and Miloshoska, Danijela and Mickovski, Nikola (2016) Law aspects of life insurance development in the Republic of Macedonia. In: XIII InternationalScientific Conference on Service Sector– INSCOSES 2016, October, 2016, Ohrid, Macedonia.

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Development of insurance, as one of crucial finance sectors in each economy, is very essential for whole increasing of economy in the state. Possibilities for insurance development in the Republic of Macedonia are growing through the time. In the period of five to ten years ago from now, it has developed significant and freely it can be spoken that it has full renaissance. Insurance is multidisciplinary phenomenon and can be analyze from economic, actuary and law aspect. The aim of the paper is to analyze law aspects for development of insurance, with particular accent of life insurance, as a main pillar for insurance development. Law regulation of life insurance is in accordance with EU and world standards and it gives possibilities for further development. Development of life insurance is the most important, because it injects direct financial means to the sector, and one of the main roles of life insurance is the function of saving. With analyzing parameters, it can be concluded that numbers, percentages of life insurance in total insurance are increased every year. This trend should be used from different subjects affected by insurance. Also different laws, its implication, implementation and criminal prevention of insurance fraud, will be analyzed in the paper with appropriate methodological instruments. All that should be done in order to extract useful conclusions and recommendations for future development of the sector.
Keywords: law aspects, life insurance, development, economic growth

Item Type: Conference or Workshop Item (Paper)
Subjects: Scientific Fields (Frascati) > Social Sciences > Law
Scientific Fields (Frascati) > Social Sciences > Other social sciences
Divisions: Faculty of Tourism and Hospitality
Depositing User: Mr Bojan Sekulovski
Date Deposited: 31 Oct 2017 09:04
Last Modified: 05 Jul 2023 11:16

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