Insurance as a component of the corporate social responsibility system

Baranova Viktoriia
D.Sc. (Economics), Professor, Head of the Department of Financial Management and Stock Market, Odessa National Economic University, Odessa, E-mail:vgbaranova58@gmail.com

Cite this article:

Baranova V. (2021) Insurance as a component of the corporate social responsibility system. Ed.: V.V. Kovalenko (ed.-in-ch.) and others [Strahuvannya yak skladova sistemi korporativnoyi socialnoyi vidpovidalnosti; za red.: V.V. Kovalenko (gol. red.)], Scientific Bulletin of the Odessa National Economic University (ISSN 2313-4569), Odessa National Economics University, Odessa, No. 11-12 (288-289), pp. 15-19.

Abstract

The purpose of the article is to identify proposals for changes in approaches to the formation of the social insurance package with the definition of appropriate sources of funding. The main methods were general scientific approaches to the formation of the terminological environment in order to prevent ambiguous interpretation of terms and to obtain conflicting, contradictory conclusions and recommendations. It is proposed to introduce a social insurance package with the mandatory inclusion of components of health insurance - medical annual mandatory review in order to form and develop corporate social responsibility. Possible sources of funding for such a package are identified based on a combination of three components: the business sector, the insured sector, and the public sector. The practical importance of introducing a component of health insurance into the social package will help increase the protection of employees and businesses, reduce staff turnover and build the capacity of human capital.

Keywords

corporate social responsibility, insurance, social insurance package, human capital, sources of financing.

JEL classification: G220, G300

UD classification: 336.665

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