The article analyzes very actual issues of liberalization consequences of the domestic insurance market related to Russia's WTO accession. Important aspects of effective work in the liberalized insurance market are competitiveness and financial sufficiency of the Russian insurers. The authors point out that there should be great efforts to solve the existing problems in this area. The paper reveals the current state of the Russian insurance industry and identifies positive and negative aspects of its development in terms of opening the domestic insurance market for branches of foreign insurers.
Keywords: World Trade Organization, insurance market, liberalization, insurance market, development prospect, foreign insurers
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