ANALYSIS OF THE AGRICULTURAL INSURANCE MARKET WITH REGARD TO STATE SUPPORT IN RUSSIA

The aim of the article is to evaluate the current development of the agricultural insurance market in Russia According to Food Security Doctrine of the Russian Federation. Data sources for the investigation are the web site Statistics of Russia and the web site of The Ministry of Agriculture of the Russian Federation. Data has been subjected to a cleaning process and its relevance proved. The statistical software used for the investigation is Statistica. The linear regression model of the agricultural insurance market is based on a time series of 4 selected variables (insurance premiums, value of gross agricultural production, damage due to the hydrometeorological phenomena, and quantity of agricultural organizations that have insurance contracts) and covers annual data in the period 2007-2016. The research results indicate that the model of agricultural insurance in Russia does not absolutely contribute to the leveling the consequences of risk events in the agricultural sector. At present, the Russian agricultural insurance market is in imperfect condition. It is not regulated by market laws of supply and demand, but rather is strictly administrated by the government. The number of agricultural companies having an insurance contract decreased five-fold in the past 6 years because of decreasing government insurance support, oligopoly in the insurance market, and unprofitable terms of insurance for farmers. All of the above factors do not allow full implementation of the decree of the President of Russia on ensuring food security.