Life Insurance in the Uzbekistan Insurance Market: Current Status and Prospects for Development

Abstract

The first reforms in the field of insurance began with the strengthening of its legal framework, and work in this area is being improved in accordance with modern traditions of social and economic development. After gaining independence, our country has undergone significant changes in the insurance system. In the context of market relations, the insurance system as one of the economic pillars of the country's life has played an important role in the sustainable development of the economy as a necessary means of protecting the interests of individuals and legal entities. After all, there can be a variety of unexpected events in the socio-economic life of a society. By insuring them, a balance in development can be maintained.