The development of the national insurance market has been set as the main target of the economic reformation. The modern social and economic conditions need a comprehensive scientific system to be established, which would ensure the further development of insurance considering the requirements of international standards regulating the insurance market. The science of insurance is intended to address a broad range of issues, the solutions to which enable us speak of a stable social and economic development. Since the time it appeared, the insurance as a social institution ensures not only the minimization of the consequences of various damages, but also creates prerequisites for social solidarity and mutual support. In the context of various types of social organization, the protection activity against risks and damages has certain peculiarities.