IMPROVING RISK MANAGEMENT IN THE ACTIVITIES OF INSURANCE ORGANIZATIONS OF UZBEKISTAN

Authors

  • Khasanov Farrukh Ravshanovich Author

Keywords:

Risk Management, ERM, ORSA, IFRS 17, Solvency II, Insurance Market, International Standards.

Abstract

The article examines the role and significance of international 
standards in improving risk management in the activities of insurance organizations of 
the Republic of Uzbekistan. The relevance of the study is driven by the transformation 
of the national insurance market under the conditions of integration into global 
financial processes and the introduction of new risk-based regulatory standards. The 
purpose of the research is to assess the applicability and expected impact of 
international standards on the quality of the risk management system of insurers in 
Uzbekistan, as well as to formulate practical recommendations for the regulator and 
market participants. 

References

1. Law of the Republic of Uzbekistan "On Insurance Activities" No. 730,

November 23, 2021.

2. Law of the Republic of Uzbekistan No. 370 “On Joint-Stock Companies and

Protection of Shareholders’ Rights”, May 6, 2014.

3. Resolution of the President of the Republic of Uzbekistan No. PQ-108 dated

March 1, 2024 “On comprehensive measures for the further development of the

insurance services market”.

4. Kumar et al. «Enterprise risk management in the insurance industry: Trends

and

future

directions».

2022.

https://www.researchgate.net/publication/379235864_Enterprise_risk_management_i

n_the_insurance_industry_Trends_and_future_directions.

5. Aigner, P. (2023) — «Identifying scenarios for the Own Risk and Solvency

Assessment (ORSA)» (SSRN / econstor). ICIR Working Paper Series, No. 48/23. p.

36.

6. «Own Risk and Solvency Assessment (ORSA) — Guidance and practice

notes» — NAIC. As of December 2022. www.naic.org.

Published

2026-06-17

How to Cite

IMPROVING RISK MANAGEMENT IN THE ACTIVITIES OF INSURANCE ORGANIZATIONS OF UZBEKISTAN. (2026). ОБРАЗОВАНИЕ НАУКА И ИННОВАЦИОННЫЕ ИДЕИ В МИРЕ, 95(3), 497-502. https://alpharesearchs.com/index.php/obr/article/view/2556