Eatures of licensing insurance activities

Abstract

The purpose of this study is to study the licensing procedure of insurance activities, to identify its features and problems of legal regulation that require resolution.
The author revealed that among legal scholars there is no single approach to the definition of the concept of "license", scientists criticize the position of the legislator, who reveals the content of the designated concept through the concept of "permission", since these terms are synonymous with each other, or rather one is a form of expression of the other. In addition, it is established that the licensing procedure is represented by a set of actions that must be performed by the license applicant and the insurance supervision authority represented by the Bank of Russia, whose powers include the issuance of licenses for insurance activities. To obtain a license, the applicant must submit to the insurance supervision authority a certain list of documents, among which the author draws attention to a document containing information about some officials of the future insurance company. Thus, the author believes that the head of an insurance company should be required to have a higher legal, economic or financial education, and the absence in the legislation today of an indication of a specific type of education that the head should have is incorrect. The author also suggests, in connection with the difficult situation in the world, to postpone the terms of increasing the authorized capital of insurance organizations to a later date in view of the impossibility in the current conditions of attracting the inflow of foreign investment into the economy of our country.
The novelty of the presented scientific research is determined by the fact that the shortcomings of the legal regulation of the institute for licensing insurance activities have been identified, which have not yet been presented in any scientific research, and ways to solve them have been proposed.