International insurance programs in the field of hospitality

Abstract

Introduction. Military aggression and the prolongation of the coronavirus pandemic have created a deep economic depression for businesses, including property losses and future prospects.

Problem. The urgent task is to develop insurance tactics and priori insurance products that will help protect and further restore the business through compensation payments, which led to the relevance of the article.

The aim of the research is formulation of insurance directions as tools of compensatory protection against external threats and risks.

Methods. General scientific and analytical research methods are applied.

Results. The subjects and objects of insurance were identified in conditions of external challenges, threats and instability. Areas of cooperation between insurers and hospitality entities were considered. Diagnostics of the services of insurance companies and the state of the insurance market as a whole have been carried out. Recommendations on diversification of insurance products are provided, taking into account the dangers of military aggression and the corona virus pandemic.

Conclusion. In the conditions of a military attack and the escalation of the pandemic, the development of insurance and the formation of compensation capital is a promising task. Scientifically based results are presented that comprehensively solve an important theoretical and applied problem of the development and implementation of insurance and diversification of insurance products: adaptation to difficult conditions and prevention of financial, operational and reputational losses. The subjects of the hotel industry should consider all possible ways of ensuring business and development prospects in the post-war period through insurance reimbursements.