Comparison of the impact of the world financial crisis of 2009 and the pandemic on the insurance market

Predmet rada je analiza učinaka globalne financijske krize 2008. godine kao i pandemije na tržište osiguranja u Republici Hrvatskoj i svijetu. Cilj rada je prikazati i usporediti utjecaj dvije različite krize i njezine negativne ekonomske učinke na poslovanje društva za osiguranje kao i njihovu reakciju i odgovor u kriznim vremenima. Za izradu rada korišteni su sekundarni izvori podataka kao što su knjige, prospekti te stručni i znanstveni članci i radovi. Koriste se i izvješća koja su dostupna na internetskim stranicama kako bi se mogla provesti željena komparativna analiza. Analiza osiguravajućih društava ukazuje na slabiji učinak financijske krize i koronakrize na njihovo poslovanja u odnosu na ostatak financijskog sektora. Društva za osiguranje na financijsku krizu odgovorila su kontrolom i smanjenjem troškova poslovanja. No, utjecaju pandemije pristupilo se ozbiljnije te su detaljnije analizirani mogući rizici i predstavljena rješenja suzbijanja rizika, gdje se u prvi plan stavljaju javno-privatna partnerstva. Razlog tome svakako je priroda krize izazvane pandemijom, koja se značajan razlikuje od financijske krize 2008. godine.The subject of this paper is the analysis of the effects of the global financial crisis in 2008 as well as the pandemic on the insurance market in the Republic of Croatia and the world. The aim of this paper is to present and compare the impact of two different crises and its negative economic effects on the operations of insurance companies as well as their reaction and response in times of crisis. Secondary data sources such as books, brochures, and professional and scientific articles and papers were used to prepare the paper. The reports available on the website are also used in order to carry out the desired comparative analysis. The analysis of insurance companies indicates a weaker effect of the financial crisis and corona crisis on their operations compared to the rest of the financial sector. Insurance companies have responded to the financial crisis by controlling and reducing operating costs. However, the impact of the pandemic has been taken more seriously, and possible risks have been analyzed in more detail, and risk management solutions have been presented, with public-private partnerships coming to the fore. The reason for this is certainly the nature of the crisis caused by the pandemic, which differs significantly from the financial crisis in 2008