IMPACT OF CORONA CRISIS ON ECONOMIC DEVELOPMENT AND THE SITUATION IN THE FINANCIAL SECTOR OF THE INSURANCE INDUSTRY

DARINA MÓŽIOVÁ

https://doi.org/10.53465/EDAMBA.2021.9788022549301.338-349

 

Abstract: The insurance industry has become one of the most important sectors of the national economy in the last decade and is actively involved in the functioning of the market economy. It interferes with the lives of citizens, the state, business entities and also plays a significant role in international trade. The insurance market is constantly evolving and adapts to the needs and requirements of insurance entities, as well as relevant legislation. Its importance for citizens and businesses is unquestionable. It helps them maintain a standard of living and economic stability and, in addition, gives them the opportunity to invest temporarily free funds. It is part of the financial market, which is affected by various risks, which certainly include the period of coronary crisis. In this paper I will examine how the corona crisis until 2020 affected the insurance industry.

Keywords: insurance, coronavirus crisis, risk

JEL classification: G20, G21, G22

Fulltext: PDF

Online publication date: 12 May 2022

 

To cite this article (APA style): 

Móžiová, D. (2022). Impact of Corona Crisis on Economic Development and the Situation in the Financial Sector of the Insurance Industry. Proceedings from the EDAMBA 2021 conference, 338 – 349. https://doi.org/10.53465/EDAMBA.2021.9788022549301.338-349