ESTABLISHMENT STAGES OF THE AGRICULTURAL INSURANCE MARKET DURING THE PERIOD OF INDEPENDENCE

Abstract

An effective insurance mechanism that covers natural risks not only distributes the risks of agricultural producers among them, but also directs the development of agriculture. The goal of the research presented in this article is to investigate the stages and principles of insurance market creation in Azerbaijan's agrarian area, as well as the involvement of the state in this process. The 
research approach is based on a review of the global agriculture insurance market's experience, namely the substance of Turkey's TARSIM model and its implementation techniques in Azerbaijan. Simultaneously, the insurance model used in Azerbaijan was thoroughly examined in a statistical data database. Numerous recommendations of scientific value from the article's analysis of the stages of the establishment of the agricultural insurance market can be applied to improve this market. The scientific novelty of the article is that, for the first time, a detailed study of the stages of the creation of the agricultural insurance market in Azerbaijan, the difference between these stages, and the advantages and disadvantages of each stage was conducted. At the same time, the existing potentials in the process of development of this field have been clearly revealed.