ISSUES OF IMPROVING THE SYSTEM OF COMPENSATION PAYMENTS UNDER COMPULSORY CIVIL LIABILITY INSURANCE

This article is dedicated to the economic significance of the system for ensuring the civil liability of vehicle owners and its regulatory issues. It provides an in-depth analysis of the current state of the insurance sector,existing problems, and their economic implications. The norms related to this type of insurance in the Civil Code of the Republic of Uzbekistan and the legislation of foreign countries are compared, focusing on their impact on economic efficiency. The article highlights the effects of the liability insurance system for vehicle owners on the economy, including reducing the costs of mitigating road traffic accident consequences, ensuring financial stability, and contributing to the development of the insurance market. Additionally, proposals and recommendations are provided to optimize the relationship between the insured and the insurer from an economic perspective. This research aims to enhance economic efficiency in the insurance sector, improve the regulatory legal framework, and further strengthen the insurance system's contribution to economic stability.