Sustainable Insurance and Professional Liability: An Empirical Analysis
Keywords:professional risk, insurance, object of insurance, professionalism, factor analysis
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
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