Insurance is today one of the most developed activities in the world, with immense financial capacities and funds. If we exempt Slovenia and Croatia we can conclude that the insurance market of the region is behind the developed European countries. In contrast to neighbouring countries, insurance market in Montenegro is rather undeveloped and demands urgent reforms. Apart from life and voluntary pension insurance, the development of other insurance products is expected and this should improve the position of insurance companies in the financial market and enable further development of insurance and the region in general.
Vladimir Kašćelan and Boško Radulović. "Insurance Companies In The Financial Market In The Region." Montenegrin Journal of Economics. vol. 4, no. 7, 2008, p. 5-15
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