engleski

EU ACCESSION OF THE REPUBLIC OF CROATIA AND ITS IMPLICATIONS ON THE CROATIAN INSURANCE MARKET

Insurance manages, diversifies and absorbs the risks of various individuals and companies on the world market, but also on the national markets ; because of that, insurance is often a precondition for the development of other activities, such is the purchase of housing, and the creation or expansion of businesses. In turn, these activities generate demand for different products and services that insurers provide, thus facilitating and supporting insurance activities. This effect supports the overall development of the economic sector, and works on an individual level as well, expanding as a natural consequence of its social protection value. Due to expansion, deepening and integration of the Internal market of the European Union, companies and corporations from around the world are given the opportunity to easily access this attractive business environment. This fact is especially true for providers of insurance products and services. A larger number of insurance companies are operating daily on the vast European market with nearly 500 million potential clients, which opens up numerous business opportunities, while business activities are in part facilitated by the significant degree of harmonization of insurance products and services. Europe is the largest insurance market in the world with a world market share of around 36%. This paper tries to give answers which are the potential implications of the Croatian accession to the European Union on the Croatian insurance market

insurance market, EU, Croatia, implications, effects

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