Salaichuk O. Financial mechanism for guaranteeing in motor insurance system

We have determined the basis of the financial mechanism for guaranteeing in motor insurance system as an adaptive instrument of property interests protection of victims and insured persons on compulsory motor insurance policies. This mechanism provides for use of set of forms, instruments and measures in the area of forming and usage of the centralized insurance reserved funds under the institutional transformations that will contribute to develop and implement of measures aimed at introduction of unconditional compensation for losses in result of ownership and exploitation of vehicles. The notion “motor insurance” was improved. This notion is defined as a system of economic relations related to forming and usage of the centralized insurance reserved funds for guaranteeing of compensation for losses of victims in result of ownership and exploitation of vehicles that unlike some other interpretations is considered through the prism of sub-systems of motor insurance. We suggested provision on subjects in motor insurance, which are divided into basic, infrastructural and guaranteed components, interoperating of which contributes to synergetic protection of property interests of victims and insured persons. We investigated the features of financial mechanism for guaranteeing in motor insurance system in Ukraine, namely imperfect compensation model of insurance indemnification, difficulties in proof of actual expenses borne by victims in state hospitals, a significant share of procedural payments for damage caused by uninsured drivers of the vehicle that will rise its adaptability to macroeconomic environment transformations. Approaches on influence of innovative technologies for enhance the effectiveness of financial mechanism for guaranteeing in motor insurance system were further developed. It will contribute to take into account individual needs of the insured persons, accelerating settlement of insurance events, minimization of insurance fraud, lowering the costs for insurance, harmonization of domestic and European insurance legislation.