Sustainable Insurance and Professional Liability: An Empirical Analysis
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Published:2023-02-01
Issue:1
Volume:12
Page:35
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ISSN:2239-6101
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Container-title:European Journal of Sustainable Development
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language:
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Short-container-title:EJSD
Author:
Tsintsadze Asie,Ivanishvili Maia
Abstract
Professional liability insurance combines types of property insurance for several categories of individuals who may cause material harm to third parties as a result of their professional activities. As market rivalry has strengthened with the development of a market economy, the demand for insurance protection has increased, and the presence of a professional liability insurance policy boosts the prestige and confidence of a professional in the eyes of his clients and business partners.
In many nations throughout the world, professional liability insurance is a burgeoning insurance industry that brings profit to insurance firms and helps professionals maintain their activity and business stability.
Given that professional liability insurance is becoming a strategically significant area of insurance, it is pertinent to examine the problems and prospects of its development, which largely determined the research task: empirical analysis determined the level of influence of factors affecting the development of professional liability; based on the analysis of the state of professional responsibility in the insurance market, the problems of the development of the sub-sectors were identified.
Keywords: professional risk, insurance, object of insurance, professionalism, factor analysis
Publisher
European Center of Sustainable Development
Subject
Management, Monitoring, Policy and Law,Economics and Econometrics,Environmental Science (miscellaneous),Development,Geography, Planning and Development