The article analyzes the effectiveness of insurance risk management in crisis conditions. It looks at historical aspects of insurance, trends in risk management, and the role of insurance in the economy. The study examines factors affecting risk management, the nature of insurance portfolios, and the spectrum of risks in the market. It also discusses the imbalance of the insurance market during crises and expert evaluations of recent market trends. The research highlights problems in the insurance business, particularly in managing risks, and explores the integration of the Ukrainian insurance market with European regulations.