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Compulsory insurance in developing economies: Challenges, strategies, and global insights

Year: 2024

Type: article

Abstract: Compulsory insurance is a vital mechanism for managing risks and promoting financial security in developing and transitional economies. This study examines the challenges of implementing compulsory insurance, including affordability issues, low public awareness, and weak enforcement. Drawing on global experiences from countries like India, and Russia, it identifies effective strategies such as public-private partnerships, digital platforms, and community-based models. The findings highlight the significant social and economic benefits of compulsory insurance, emphasizing its potential to enhance financial resilience, access to essential services, and economic stability.

Source: Zenodo (CERN European Organization for Nuclear Research)

DOI: 10.5281/zenodo.15148609

Authors: Meliboyeva Muqaddas Hikmatovna, Masimdjanova Muqaddam Xikmatovna

Institution: Tashkent State University of Economics

Language: English

Topic: Insurance and Financial Risk Management

Subfield: Economics and Econometrics

Field: Economics, Econometrics and Finance

Domain: Social Sciences

SDGs: No poverty, Peace, justice, and strong institutions, Decent work and economic growth, Reduced inequalities

Open Access status: green

OpenAlex ID: W6893225393

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