REGULATORY AND LEGAL CONDITIONS OF LIABILITY INSURANCE IN UKRAINE

Introduction. The urgency of studying the legal field of the market of Ukrainian insurers is to ensure the effective functioning of this market. The legal framework determines the rules of operation of insurance companies. A detailed study of this field helps to avoid legal conflicts, ensures market stability and increases the level of confidence in the market. Purpose. The purpose of the conducted research is the analysis of mandatory and voluntary types of insurance, their implementation by insurance companies and their transformation into insurance classes. Research materials and methods. The research materials were: 1) the regulatory and legal framework, which consists of a number of laws and regulations, in particular, such as the Law “On Insurance” dated 07.03. 1996, Law “On Insurance” dated January 1, 2024, Resolution of the CMU, etc.; 2) research conducted by scientists regarding the regulatory field of the insurance services market. Materials and methods. The main methods by which the research was carried out include: methods of scientific analysis and synthesis — applied during the assessment of the main legal acts that have been in force until now, and the main changes that were put into effect after January 1, 2024, in particular those that related to the sphere of liability insurance; generalizations — were used when writing the main positive and negative aspects of the introduction of new legislation in the field of insurance market, as well as providing recommendations for easier implementation of innovations in practice. Results. With the entry into force of the new Law of Ukraine “On Insurance” dated November 18, 2021 No. 1909-IX, the transformation of mandatory and voluntary types of insurance took place. Certain types of insurance for which insurers were required to obtain licenses were regrouped into classes of insurance and renamed risks insured within the class. Supervisory statistics of the liability insurance market as of December 31 were analyzed. 2023 and legal framework. The impact of military operations on the insurance market in Ukraine has been determined. The main advantages and disadvantages of the new Law “On Insurance” are analyzed. The main positive consequences of the adoption of this law include: strengthening of liquidity and solvency of insurers; disclosure of full information about the state and development plan of the insurance company; bringing the legal framework to international standards, etc. The materials of the study are the Laws of Ukraine “On Insurance” dated 03/07/1996 No. 85/96-VR, which expired on 12/31/2023, and the Laws of Ukraine “On Insurance” dated 11/18/2021 No. 1909-IX, which entered into force on 01/01/2024 r., as well as Resolutions of the Cabinet of Ministers of Ukraine regarding liability insurance. Discussion. As a result of the conducted research, the main stages and measures were singled out, the adoption of which would greatly facilitate the entry into force of the new Law, namely, clear control over various departments, branches of state power, so that they, in turn, were able to timely develop and approve the relevant by-laws, in order to for the law to enter into force in practice, and to reduce the risk of possible legislative conflicts; giving insurers more time to adjust their work to the new changes