Olena Bodnar, PhD in Economics, Associate Professor, Department of Finance, Banking and Insurance, Mykolaiv National Agrarian University, Mykolaiv, Ukraine

ORCID ID: 0000-0002-0152-4290
e-mail: bodnaroa@mnau.edu.ua

Denys Ivanenko, candidate for a higher education degree, Accounting and Finance Faculty, Mykolaiv National Agrarian University, Mykolaiv, Ukraine

e-mail: denchik506732@gmail.com

The Role of Insurance in Ensuring the Economic Security of Ukrainian Agribusiness in the Conditions of Martial Law

Abstract. Introduction. During the period of armed conflict engulfing a significant part of Ukraine, the agricultural sector is facing unprecedented challenges posing serious threats to the economic security of agricultural businesses. The stability of agricultural enterprises has been undermined by the destruction of agricultural machinery and landmines in cultivated areas, as well as by the disruption of supply chains and limited access to markets. In this context, insurance becomes particularly important as a risk management tool that can mitigate financial losses, ensure production continuity, and enhance the economic resilience of agribusiness entities.
This study aims to analyze the role of insurance in ensuring the economic security of Ukrainian agribusinesses during armed conflict and to identify ways to improve the effectiveness of insurance mechanisms.

Results. The concept of economic security in agribusiness was examined, and insurance was considered a key instrument for safeguarding economic stability in the agricultural sector. The study outlined relevant types of insurance, including crop, property, machinery and liability insurance, and conducted a comparative analysis of agricultural insurance indicators in Ukraine and other countries. Features of agribusiness insurance under martial law were identified, with particular attention given to coverage challenges in regions affected by destruction or temporary occupation and limited access to insurance products for small and medium-sized agricultural producers. The study also presented development prospects for agricultural insurance as a factor in enhancing economic security.

Conclusions. The study emphasizes the need for stronger state involvement in developing an agricultural insurance system that includes compensation mechanisms, premium subsidies, and reinsurance programs supported by international partners. It highlights the prospects for developing the agricultural insurance market and its impact on the economic security of agribusinesses and the country as a whole. The study substantiates that an effective agricultural insurance system can be a key factor in post-war recovery, sustainable agricultural development, and strengthening the economic security of agribusiness.

Keywords: agribusines; martial law; risk management; agricultural insurance; state support; agricultural resilience

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