Risk insurance mechanism of financial and innovative activities of integrated business structures

The subject of the research is the theoretical and practical aspects of determining the modern
mechanism of insurance of risks of financial and innovative activities of entrepreneurial business
structures / integrated business structures.
The aim of the research is: to study the types of financial and innovative risks; principles, functions,
tools of the mechanism of insurance of risks of financial and innovative activities.
Research methods. When writing the article, general, scientific and special methods of researching
economic phenomena / processes were used, applicable to the definition of a general mechanism for
insuring risks of financial and innovative activities of integrated business structures.
Results of the investigation. In the course of writing the article, it was found that insurance
of the risks of financial and innovative activities, both of individual business units and of integrated
business structures as a whole, is directly related to the result of the activities of these entrepreneurial
structures, their further promising development and competitive position in the market. It has been
established that the dominant influence of financial and innovative risks on the overall results of
financial and innovative activities of business entities is influenced by internal and external factors that
take place among the changing dynamic environment of the latter. It has been proven that a correctly
selected mechanism for insuring financial and innovative risks of business entities will help to solve the
issue of optimizing risks, avoiding possible risk events and ensuring continuous, stable and profitable
activities of integrated business structures.
Scope of the results. Finance, economics, management, risk management, business integration,
enterprise management, financial and innovative activities of the enterprise.
Conclusions. It has been established that the mechanism for insuring risks of financial and innovative
activities, both of integrated business structures and individual integrated business units, is necessary
to solve the scientific and practical problem associated with ensuring a step–by–step iteration of risk
optimization, avoiding possible risk events, which leads to ensuring continuous, stable and profitable
activities of business entities. It is proved that the implementation of financial and innovative activities
of entrepreneurial business structures is associated with a share of uncertainty and risk, which can
be avoided by a properly constructed mechanism of insurance (optimization) of financial and innovative
risks inherent in the entrepreneurial activity of cluster associations and integrated business units.
The construction of such a mechanism will take into account all the constituent elements and factors
that will ensure effective management of business activities, with the exception of risk events, or their
localization at the initial stage. It has been established that the most effective method for preventing /
optimizing financial and innovative risks is their insurance, which is a complex system of relationships
between a business entity and an insurance company regarding the transfer of certain financial and
/ or innovative risks. Risk insurance is the most effective and almost the only means of avoiding and
protecting against unwanted risk.