The lecture was devoted to a current state and specifics of the Russian insurance market. Hannes Chopra noted weak penetration of insurance services into the Russian economy, which is harmful for the economy growth rate. The Russian economy is pushed backward by any catastrophic event due to the fact that in each case losses are covered by the federal budget. Mr. Chopra mentioned that the development of individual health insurance would lead to more fair distribution of medical expenses taking into account that Russia is a world leader in percentage of population smoking and in alcohol related deaths. He especially noted that insurance penetration would provide positive economic effects associated with long-term insurance reserves investment as well as make people to estimate more carefully their risks thus influencing their behavior and improving their attitude towards their health.
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