Mutual Insurance in Russia: Current State, Constraints and Paths of Development

The authors analyze the main factors affecting the development of mutual insurance in the Russian Federation: economic conditions, imperfect legislation, regulatory barriers and competition with alternative risk protection instruments. The article compares the competitiveness of mutual insurance against commercial insurance and highlights its advantages and disadvantages. It emphasizes the potential of mutual insurance to contribute to the economic stability and sovereignty of the Russian Federation, especially in the face of sanctions pressure on the Russian economy. The authors also emphasize the importance of implementing successful international experience and adapting Russian legislation to promote the growth of mutual insurance. The article reveals the fundamental contradiction between the interests of insurance consumers, such as households and the corporate sector (including companies with predominant state participation), and the functioning of the mutual insurance mechanism. The authors analyze quantitative indicators of mutual insurance in Russia from 2013 to 2023. The obtained data are compared with the results from the Russian insurance market and voluntary property insurance. The article proposes measures to improve the Russian mutual insurance market. These measures include state support, reduction of regulatory burden and expansion of the scope of mutual insurance in the interests of ensuring Russia’s economic sovereignty.