Economic Behavior of Insurance Market Participants: Sociological Approach

Abstract

When studying economic behavior of participants of insurance market not only economic rules and objective factors should be taken into consideration but social laws as well. Sociological approach allows us to assess the interaction of subjects within the system of multilateral social ties. The author investigates the motives of the choice of a certain insurance company; positioning of the insurance company as a market institution; insurance companies’ social responsibility; the role of the state as a regulator of insurance relations; influence of financial crisis on the behavior of insurance market participants.