The Role and Involvement of the State in the Insurance Market – The Insurance Market in a European and National Context

Abstract

The emergence of insurance is related to the need for people to help each other in the case of the ever increasing damages, and of the reinsurance to support among them those who manage the insurance funds and activities. In the context of the market economy, of the current challenges at global level (such as climate change), insurance is a segment of services, having multiple valences. Their fundamental role is to protect goods and people against different risks. The man has always been concerned about the future, and the fear combined with caution has led him to create insurance since ancient times. The insurance market is the organizational and methodological framework in which the insurance operations are carried out. In this market are met: the insurance request, which comes from the natural and legal insurable persons, as beneficiaries of the insurance and who choose to conclude various types of insurance and the insurance offer, supported by specialized organizations, authorized to operate in this field and capable under financial report to carry out such activity. Moreover, given that insurance is one of the financial instruments supporting the safety and security of the individual and of businesses at a global level.