Insurance as a factor for the development of the agricultural sector in the Republic of Serbia

Insurance in the agricultural sector is a special sort of property insurance applied to agricultural manufacturers in the aim of preventing the loss of profit made in agricultural activities. It is not limited to crops and fruitage, rather it refers to livestock, domestic and wild animals, and it can also be applied to greenhouses, in forestry and aquaculture. This paper points out to characteristics of crop and fruitage insurance as an instrument for risk management applied in Europe and Serbia. Different insurance systems are analyzed here with an emphasis on the insurance of one type of risk, combined insurance and crop insurance. Different forms of crop and fruitage insurance are given here, with a special emphasis on the share of insured areas, share of insurance premiums in the insured sum, realized technical result expressed through a ratio of paid claims and paid insurance premiums by the insurer, as well as the number of subsidies which the state is using to partially compensate farmers for the costs of insurance premiums. Has a special social and ecological significance, wherein it is the driver of rural development at the same time

The role of managers in creating a desired organizational culture in global business condition

The new economy sets entirely new requirements before entrepreneurs and managers. Therefore, their role is changed importantly in regards to the traditional role they had; new knowledge and skills are expected so they could be able to adapt the companies they run to cultural changes and create adequate organizational behavior in them. In accordance with that, the aim of our paper was to examine what are the features that modern managers should have so they could be able to keep up with changes and manage them. Our research has shown that it is harder for managers to adapt to challenges they face in the business world in relation to other members of the team. Therefore, many of them remain resistant to changes and it has a negative reflection on the adaptation of companies to cultural differences that a global business environment create

Insurance trends in Serbia from 2005 to 2015

The insurance market has a significant impact on the development of economy of each country and it is an important factor of the stability of the financial sector. The insurance market in Serbia is underdeveloped and according to the degree of development, it is well below the average of the European Union member states. This is reflected in the indicators of the development of the insurance market - the ratio between total premium and gross domestic product and total premium per capita. The insurance market in Serbia belongs to a group of emerging markets with significant potential, primarily in the sphere of life insurance. The growth rate of the life insurance market in Serbia was different and it used to be prone to external and internal influence of various factors. Pursuant to the Insurance Law and the Law on Amendments to the Law on the National Bank of Serbia from 2004, supervision over the performance of insurance activities was entrusted to the National Bank of Serbia. In 2004, it defined and disclosed its strategic goal in the field of insurance - creation and maintenance of a safe and stable insurance sector and provision of public confidence in the insurance sector, in order to protect the interests of policyholders and third parties. In accordance with its legal authority, the National Bank of Serbia adopts the acts defined by law, exercises supervision over the performance of insurance activities, issues and revokes licenses for performance of insurance activities, reinsurance, insurance brokerage and activities directly related to insurance activities, gives consent to acts, gives and withdraws approval for appointment of members of the management and supervisory board, grants and revokes the approval for acquiring qualified participation in the company, processes statistical and other data, keeps data registers in accordance with the Law, considers complaints of policyholders and third parties to the work of insurance companies, including conducting mediation

Information and communication technologies and internet implementation in insurance services distribution

The objective of this paper is to present the importance of information and communication technologies (ICT) for the development of insurance companies business, and in particular distribution of insurance products that relies on ICT, primarily the Internet. The special place here is reserved for internet marketing, which is most commonly used in insurance companies. Mobile communications introduce the biggest changes in e-commerce. Nowadays their distribution among consumers offers great opportunities for service providers. Currently, insurance companies in our country do not offer their services through this specific communication channel. However, in the very near future changes can be expected in this sphere because preconditions for such activity already exist in Serbia today. This is supported by the information that certain insurance companies in the countries in the region have already activated their first applications for smartphones, and similar applications for banking already function in Serbia

The participants on the Serbian insurance market

The insurance sector significantly influences the economic development of any country and it is an important factor of financial sector stability. The Serbian insurance sector is underdeveloped and according to the level of the development, it is positioned under the average value of EU countries. This is corroborated by the indicators of insurance market development – the relation between the total premium and the GDP and the total premium per capita. Based on the 2004 Law on Insurance and the Law on the Amendments to the Law on the National Bank of Serbia, the supervision of insurance activities has been entrusted to the National Bank of Serbia. In 2004, the National Bank of Serbia defined and revealed its strategic goal in the insurance area - creating and observing a safe and stable insurance sector and ensuring public trust in the insurance sector, and protecting insured and third persons. According to its legal authority, the National Bank of Serbia delivers acts required by law, supervises insurance sector activities, issues and revokes licenses for businesses of insurances, reinsurances, brokerage and insurance agencies and businesses directly connected with insurance activities, gives consent to acts, issues and revokes consent for appointment of members – the Director and Supervisory Board, issues and revokes consent for acquisition of qualifying holdings in insurance companies, processes statistical and other information, maintains registers of data according to the Law, considers complaints on the work of insurance companies applied by insured and the third parties, including the businesses of mediation activities

Insurance Sector and Climate Changes in Serbia

Climate changes have a strong negative impact on the insurance sector, which is reflected in the slow development of the insurance sector and in the transfer of the greater part of risk on the state and individuals. The difference between collected and paid premiums on the basis of incurred losses is rapidly decreasing, which leads to the fact that insurance market is less and less capable of absorbing the losses associated with climate changes, which then has negative repercussions on the availability of insurance services at an affordable premium. The question of establishing potential long and short-term effects of climate changes on business activities of insurance and reinsurance companies represents a priority and its ultimate objective is to find ways to minimize risks and losses. The problem of climate changes represents an important social problem in today’s civilization. At the same time, it is also an ecological problem, but also economic, political, social, cultural, health, etc. It is a global ecological problem, hence we can speak about global climate changes which affect states, nations, continents regardless of where they are and how responsible they are for creating and sustaining these changes

A creative approach to project management in the global environment

The fact that projects represent strategic activities of each organization is shown through the rapid development of project management nowadays. The need for project managers, capable of project monitoring and of successfully carrying out projects with their activities has increased. The process of implementation project planning has a great importance for project success. Thus, the realization of the project largely depends on the capabilities and competencies of global project managers, which is the reason why organizations have to invest in their knowledge. In modern business conditions and in the global environment, only managers with knowledge, communication abilities, as well as good organizational and management capabilities and human qualities can harmonize all the needed activities in the purpose of the project’s successful ending