Insurance as an Instrument of Financial Control of Risk

Abstract

The paper presents various insights into the instrument of insurance. In the course of analysis, insurance was defined from the economic, legal and organizational and financial point of view, paying particular attention to those aspects which are important for the functioning of the insurance market and for entering into transactions on this market. The insurance functions are also presented, which make insurance a financial risk management instrument with a broad impact on the functioning of the beneficiaries and the economy as a whole.