Science and Education in Karakalpakstan issn 2181-9203 Science Magazine chief editor

Science and Education in Karakalpakstan. 2023 №2/1 ISSN 2181-9203 
147 
Thus, in Canada, the risks associated with agriculture are carried out through a three-tier 
form of mutual insurance, and the advantages of this system are that the insurer simultaneously 
participates in the activities of the society as an insurer, which ensures the availability and reliability 
of the insurance services provided with the characteristics desired by the insured. ... The fact that 
each member of the Mutual Insurance Society is interested in the fact that in this society there were 
fewer insured events and, at the same time, higher income from the direction of insurance reserves 
in investments, ensures the effectiveness of its activities. 
As you know, in Uzbekistan there are a large number of personal subsidiary plots, and 
farms. There are frequent cases of bankruptcy due to the lack of sufficient capital for their 
functioning, the low possibility of risk diversification. The only way to avoid this situation is to use 
insurance services. But in commercial insurance organizations, the high cost and at the same time 
the unreliability of this service creates financial difficulties for them in purchasing such a service, 
on the one hand, and reduces interest, on the other. [2]. 
The active use of the mutual insurance mechanism will ensure full coverage of farms with 
agricultural insurance in Uzbekistan. For this, taking into account the specifics of the conditions of 
Uzbekistan, we consider it necessary to use the experience of Canada. Owners of private household 
plots operating in rural areas can consolidate their material resources on the basis of makhallas in 
order to insure their property interests. As a legislative basis for this, the law “on farms” of April 
30, 1998 (Article 22) and the law “on farms” of August 26, 2004 were adopted. (Article 25), 
according to which farm enterprises on a voluntary basis, including on a share (share) basis, are 
transformed into partnerships, societies, unions specializing in the production, purchase, processing 
and sale of products, material and technical , we would like to point out that they are marked as 
being able to form associations and other associations.By creating a mutual insurance society, the 
peasant is entitled to insurance compensation in exchange for the contribution he made. By paying 
an premium insurance, he enters into a relationship as a participant in a common cause, gets the 
right to participate in the management of this society, to develop new insurance products (based on 
his own needs) together with other members. Each member can make proposals providing for the 
development of this society, increasing the amount of insurance compensation, etc., and these 
proposals are considered at the general meeting of the society and decisions are made .In a mutual 
insurance company, a member or other person cannot be the sole owner or manager of this 
company. No person can own their property separately. Each peasant member receives only one 
vote, regardless of the amount of his contribution. [4]. 
In the event of the formation of a surplus of funds based on the results of annual activities, 
these funds can be directed to the formation of an insurance fund for the next year or distributed 
equally among the participants. Members who have worked without loss during the year may be 
subject to reduced insurance rates for next year's premium. This will be a factor so that they can 
continue their further activities without prejudice. With this method, a double effect is achieved: it 
creates the possibility of constant monitoring, as a result of which the number of insured events 
decreases, and this in itself leads to a decrease in the cost of insurance coverage.