Insurance against innovation risks for business entities

Abstract

In the context of development of innovative economy, importance is being increasingly attached to stimulating corresponding lines of activity of business entities. One of them is insurance, which presents an important method of reducing risk factors for business entities, providing stimulation of technological modernization, implementation of new forms and methods of production and management. The necessity of the present study is associated with objective difficulties of organizational, legal and economic character in the development of this type of insurance in Russia, overcoming of which requires elaborating exact decisions. In the course of this study both foreign experience of organization and legal regulation of innovative risks and the practice of Russian companies have been explored. At that, rules of insurance elaborated by them and theoretical opinions of scientists regarding the prospects of this type of insurance development have become the subject matter of analysis. All of that has helped to reveal standard models of innovative risks insurance established abroad, on the one hand, and to form the understanding of development problems of this insurance market segment in Russia, on the other hand. Based on that, the peculiarities of innovative risks insurance have been distinguished, its place in the insurance system has been defined and possible directions for its development in Russia have been critically evaluated.