Mark: 25 Question 1: Basic principles and concepts of risk management

Question 4: Insurance relations and their regulatory mechanism
There is good reason for make insurance for companies. They protect from risks and losses to their assets and others. It creates good environment companies to give all attention to the product or service and achieve high profit. Insurance relations should be controlled by the government. Because insurance companies are diversified they work many spheres. In addition to if in country happened crisis insurance companies can help to get rid of crisis. Government control through special state organs (i.e. audit), taxes, compulsory insurance. There are tasks in controlling insurance market. First of all, government special organ give license to insurance companies run their business, government should check insurance company’s activity of they can pay the indemnity to the insured, defining insurance fond to which way use. Controlling process of insurance: Checking insurance companies and insured do their responsibility, Issue and provide regulations in insurance field, choose professional participant of insurance market. Article 5 of the Law of the Republic of Uzbekistan "On Insurance Activity" states that "professional participants of the insurance market are the subjects of insurance activity. Insurers, insurance intermediaries and other legal entities and individuals are professional participants of the insurance market in accordance with the legislation.” The main professional participant of the insurance market is the insurer. Insurers may not engage in business activities not directly related to insurance.