HISTORICAL ASPECTS OF INSURANCE EVOLUTION IN RUSSIA

The article examines historical aspects of the insurance institution establishment in Russia. The stage of formation of the concept of insurance and its essence is discussed as it was understood by human being of the previous stages of development. The main stages of insurance development are defined and investigated. Five major milestones in development of insurance services on the territory of Russia are established and justified, which cover the time frame from the XI century to the present. Additionally, the authors revealed the key moments in each period that are characteristic and possible only at a certain time of development of insurance, as well as of the entire country. Basic regulatory enactments regulating insurance business in the Russian Federation are characterized.

Edward Lloyd’s coffee house, «Russian justice», insurance market monopolization, provincial insurance, rejection of the state insurance, building of competition in insurance, mutual insurance, property insurance, Law ‘On Insurance’, Law ‘On Arrangement of Insurance Business in the RF’, insurance market demonopolization