The governmental regulation of the insurance market in the European integration processes

Abstract

This article describes an experiment in defining an influence level of a mega-regulator on the Ukrainian insurance market. The alternative options of creating an effective governmental regulation of the Ukrainian insurance market were justified with the use of hierarchical analysis method. The options include introduction of a mega-regulator for the financial services market and improvement of the insurance market regulations according the best EU standards, protection of customer interests in the insurance market and an increase in their trust in insurers, which will bring insurance regulation in accordance to EU Directives.