Publication Details
Abstract
This study investigates the role of insurance in restoring and advancing productive capacities amid technical and economic disruptions. The research primarily examines Uzbekistan’s insurance market as a crucial component for fostering a resilient economy, enhancing resource allocation, and addressing the agricultural sector’s vulnerability to unpredictable natural events. The objective is to assess how insurance services reduce unforeseen costs, stabilize income, and mitigate risks in agricultural production by covering natural disasters and economic fluctuations. The methodology employed includes both quantitative and qualitative approaches, utilizing statistical data from Uzbekistan’s national database to provide a comprehensive analysis. A comparative review of global insurance practices highlights how state-supported crop insurance aids farmers in achieving financial stability, reducing reliance on government subsidies, and facilitating access to credit. Key mechanisms in these insurance models include government involvement in premium subsidies and setting regulations that ensure affordable, accessible insurance coverage tailored to the agricultural sector’s specific needs. The results reveal that while crop insurance participation is essential, engagement among farmers remains low due to economic constraints. Increased investment in insurance education, regulatory policies, and governmental support could enhance adoption rates. Additionally, this study discusses initiatives by international organizations to strengthen insurance expertise, particularly in addressing climate change risks. Overall, the findings underscore the potential of insurance as a stabilizing force within Uzbekistan’s economy, particularly in bolstering the agricultural sector against adverse conditions, and suggest pathways for optimizing insurance practices to enhance economic resilience.