Radostin Vazov


The history of insurance undoubtedly convinces us that it is one of the most ancient categories in socio-economic relations between people, in particular to counteract the negative and destructive forces contributing to material and non-material losses. It originates in the late stage of the decay of the primordial community and over time becomes a constant companion of these relations. Put it in another way, insurance as a historical evolutionary phenomenon follows socio-economic development. Nowadays, globally, this sector has become a powerful financial industry that also feels both the beneficial and the negative effects of the dynamics of socio-economic processes. This calls for more and more effective approaches, methods and ways to manage risk in insurance companies.


insurance, money, cash flow, risk management

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