Insurance as a Pillar for Sustainable and Secure Business Development

The article presents the works, publications and views of various scholars on the importance of insurance for the stable development of business. It includes the opinions of economists, financiers and scientists such as Kenneth A. Fruit, David Cummins, Michel M. Denuit, Nassim Nicholas Taleb, Robert E. Hoyt and others are presented. The economic essence of business is discussed and it is related to the role of insurance. The indicators are presented, based on which the role and impact of insurance is determined in terms of promoting the sustainable functioning of micro, small and medium-sized businesses. Additionally, in order to further understand the importance of insurance, the functions performed by insurance companies in the development of both business and the entire economy are analyzed. Most of the papers and opinions of scientists that are discussed belong to the recent period, therefore they are based on new data. Relatively old, though no less important, materials are also analyzed.