Importance The paper focuses on the issues of regulation of the insurance market, the optimal approaches and methods as well as the degree of government involvement. Objectives The aim of this article is to study and identify methods and models of regulation of the Russian insurance market used in foreign and Russian practices. Methods The main research methods of the work are comparison, analogy, economic analysis, scientific abstraction, statistical methods, modeling, and the systems approach. Results In this study, I clarified the concepts of insurance regulation and insurance supervision. I also present international best practices in the field of commercial insurance, carry out a comparative analysis of the methods of State regulation and self-regulation. Consequently, I propose a model of two-level system of insurance regulation. Relevance Having identified the problems and matters of the Russian system of insurance regulation, I propose certain activities to improve its efficiency.
Keywords: State regulation, insurance supervision, self-regulatory organization, competition, quality, insurance service
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