Abstract 

In the modern phase, the functioning and importance of the insurance sector is increasing, which increases the demand for it and affects the economic well-being of the country. Today, almost any type of risk is insurable if it is subject to insurance. The article examines the development trends and insurance risks of the insurance market of Georgia, assesses the main aspects of state regulation of insurance business, justifies the need to develop legislative acts in coordination with the state and insurance companies, prepare and retrain personnel, protect the market from monopolies and develop the stock market for the investment of capital raised by companies. The article establishes the need to provide the population with many types of insurance, since offering one or two types of products weakens competition, it is important to increase the share of life insurance, where life insurance and pension funds have the greatest investment potential of the insurance industry It is important to offer the population many types of insurance, because either offering two types of products weakens competition, it is necessary to increase the share of life insurance, life insurance and pension funds have the greatest investment potential in the insurance sector. In particular, long-term resources are accumulated and a large proportion of them are invested in the economy. Nowadays, both social and economic risks have increased, and in order to protect oneself from them, a perfectly functioning insurance market in the country is required, which contributes to the development of the real economy, protection of the population's savings from economic and other types of risks, the plant of the population's savings in long-term life insurance and their investment in progressive sectors of the economy. It is also important to offer multiple types of insurance to the population as providing one or two product types reduces competition and puts most businesses in an unequal position.

Based on the analysis, conclusions are drawn about the need to develop the insurance market and reduce risks, and appropriate recommendations are made.

Key words: insurance market, development trend, insurance risks, insurance premium, insurance industry