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Stratification of expenses of insurance funds to cover risk situations of production process

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Category: Contens №3 2020

Last Updated on 13 September 2020

Published on 02 July 2020

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Authors:

O. I. Polukarov, Cand. Sc. (Tech.), Assoc. Prof., Associate Professor of the Department of Occupation, Industrial and Civil Safety, orcid.org/0000-0003-4260-0330, National Technical University of Ukraine “Igor Sikorsky Kyiv Polytechnic Institute”, Kyiv, Ukraine, e-mail: This email address is being protected from spambots. You need JavaScript enabled to view it.

N.A.Prakhovnik, Cand. Sc. (Tech.), Assoc. Prof., Associate Professor of the Department of Occupation, Industrial and Civil Safety, orcid.org/0000-0003-0821-2166, National Technical University of Ukraine “Igor Sikorsky Kyiv Polytechnic Institute”, Kyiv, Ukraine, e-mail: This email address is being protected from spambots. You need JavaScript enabled to view it.

Yu.O.Polukarov, Cand. Sc. (Tech.), Assoc. Prof., Associate Professor of the Department of Occupation, Industrial and Civil Safety, orcid.org/0000-0002-6261-3991, National Technical University of Ukraine “Igor Sikorsky Kyiv Polytechnic Institute”, Kyiv, Ukraine, e-mail: This email address is being protected from spambots. You need JavaScript enabled to view it.

O. Ye. Kruzhilko, Dr. Sc. (Tech.), Senior Research Fellow, Acting General Director, orcid.org/0000-0001-8624-1515, Public Agency “National Research Institute of Industrial Safety and Occupational Safety and Health”, Kyiv, Ukraine

H. V. Demchuk, Cand. Sc. (Tech.), Assoc. Prof., Associate Professor of the Department of Occupation, Industrial and Civil Safety, orcid.org/0000-0003-3939-5516, National Technical University of Ukraine “Igor Sikorsky Kyiv Polytechnic Institute”, Kyiv, Ukraine, e-mail: This email address is being protected from spambots. You need JavaScript enabled to view it.

Naukovyi Visnyk Natsionalnoho Hirnychoho Universytetu. 2020, (3): 137-144

https://doi.org/10.33271/nvngu/2020-3/137

повний текст / full article

Abstract:

Purpose. To estimate the formation of insurance funds that can be used to solve problems and cover the structural components of countering the financial crisis.

Methodology. In the research, the authors applied the method of simulation modeling, which allowed identifying several scenarios that can be implemented in formation of insurance funds with different coverage for companies of the mining and metallurgical complex. In addition, a technique was used to construct the tree method, which suggests the multivariance of formation of insurance coverage depending on the probability of occurrence of certain events.

Findings. This work provides a comparative analysis of bankruptcy models and ensuring financial stability of the enterprise for the purpose of quality control of manufactured products. The authors of the article have developed a model that can serve as a basis for the formation of intelligent decision-making process at a constant level of risk. The paper indicates that the main factor of risk conditions formation is reduction in the cost of ensuring the safety of production processes, which generates secondary risk in the conditions of enterprises of the mining and metallurgical complex.

Originality. The safety of the production process is determined depending on how significant the financial reserves of the enterprise should be to cover possible losses and, accordingly, the situation when financing of the enterprise will require additional financial flow. In this situation, the current cash flows of the enterprise can be used and the peculiarities of reducing costs for ensuring the safety of the production process are considered. In this work, this aspect is defined as a probabilistic one. Modeling financial stability is carried out with the consideration of the factor of ensuring the proper level of safety of the production process.

Practical value. The data obtained allows predicting payments not only from insurance funds of enterprises, but also from other sources that affect the probability of bankruptcy or deterioration of financial condition of the enterprise.

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