Risk insurance mechanism of financial and innovative activities of integrated business structures

The subject of the research is the theoretical and practical aspects of determining the modern mechanism of insurance of risks of financial and innovative activities of entrepreneurial business structures / integrated business structures. The aim of the research is: to study the types of financial and innovative risks; principles, functions, tools of the mechanism of insurance of risks of financial and innovative activities. Research methods. When writing the article, general, scientific and special methods of researching economic phenomena / processes were used, applicable to the definition of a general mechanism for insuring risks of financial and innovative activities of integrated business structures. Results of the investigation. In the course of writing the article, it was found that insurance of the risks of financial and innovative activities, both of individual business units and of integrated business structures as a whole, is directly related to the result of the activities of these entrepreneurial structures, their further promising development and competitive position in the market. It has been established that the dominant influence of financial and innovative risks on the overall results of financial and innovative activities of business entities is influenced by internal and external factors that take place among the changing dynamic environment of the latter. It has been proven that a correctly selected mechanism for insuring financial and innovative risks of business entities will help to solve the issue of optimizing risks, avoiding possible risk events and ensuring continuous, stable and profitable activities of integrated business structures. Scope of the results. Finance, economics, management, risk management, business integration, enterprise management, financial and innovative activities of the enterprise. Conclusions. It has been established that the mechanism for insuring risks of financial and innovative activities, both of integrated business structures and individual integrated business units, is necessary to solve the scientific and practical problem associated with ensuring a step–by–step iteration of risk optimization, avoiding possible risk events, which leads to ensuring continuous, stable and profitable activities of business entities. It is proved that the implementation of financial and innovative activities of entrepreneurial business structures is associated with a share of uncertainty and risk, which can be avoided by a properly constructed mechanism of insurance (optimization) of financial and innovative risks inherent in the entrepreneurial activity of cluster associations and integrated business units. The construction of such a mechanism will take into account all the constituent elements and factors that will ensure effective management of business activities, with the exception of risk events, or their localization at the initial stage. It has been established that the most effective method for preventing / optimizing financial and innovative risks is their insurance, which is a complex system of relationships between a business entity and an insurance company regarding the transfer of certain financial and / or innovative risks. Risk insurance is the most effective and almost the only means of avoiding and protecting against unwanted risk