THE ROLE OF INSURANCE IN ENSURING SOCIAL PROTECTION

This article examines the role of insurance in providing social protection. It analyzes how insurance mechanisms, including life, health, and property insurance, contribute to reducing social risks, stabilizing household incomes, and supporting vulnerable populations. The study also explores the interaction between government social protection programs and private insurance, identifying areas where insurance can complement public efforts. Challenges such as low public awareness, limited insurance coverage, and regulatory constraints are discussed, and recommendations are provided to enhance the effectiveness of insurance in achieving social protection goals.