American Journal of Business Management, Economics and Banking
American Journal of Business Management, Economics, and Banking is a peer-reviewed international, open-access journal. This journal publishes articles in Economics, Business Management, Banking, and Accounting. Authors can submit original research for the double-blind peer-reviewed journal. ISSN (E): 2832-8078 JIF 2024: 8.960
SHARED-SUPPLY ALLIANCES AND SUSTAINABILITY OF MICROFINANCE INSTITUTIONS IN CAMEROON: THE INSTITUTIONALIST PERSPECTIVE
Purpose: The downscaling activities of commercial banks and innovative financial services offered by other financial institutions continuously exposed the microfinance institutions to stiff competition, necessitating the quest for new strategies of growth. Alliances have become imperative in enterprise growth, thus the formation of shared-supply alliances in the microfinance sector. This study aims to examine the influence of shared-supply alliances on the sustainability of MFIs in Cameroon. The objectives are to examine how shared-supply alliances in the Production of Financial Services (PFIS) and shared-supply alliances in the Production of Non-Financial Services (PNFIS) affect the sustainability of MFIs in Cameroon.
Strategic Alliances, Shared-supply Alliances, Partnership, Sustainability, Partner microfinance institutions, Financial Services, Non-Financial Services.
Copyright (c) 2026 https://creativecommons.org/licenses/by-nc/4.0
ISSUES OF IMPROVING THE SUSTAINABILITY RATING OF BUSINESS ENTITIES
Entrepreneurial activity represents the cornerstone of economic development and transformation in any modern society. The sustainability of entrepreneurial entities, both large and small, plays a decisive role in ensuring a stable market environment and fostering long-term growth. Thus, the improvement of sustainability ratings for entrepreneurial subjects requires a thorough analysis of current practices, the identification of key factors affecting stability, and the development of viable mechanisms that enhance resilience and competitiveness in dynamic conditions.
Sustainability rating, entrepreneurial entities, economic stability, rating improvement, stakeholder engagement, corporate governance, transparency.
CONCEPT OF EFFICIENCY IN THE CREATIVE ECONOMY AND ITS MEASUREMENT METHODOLOGY
The study analyzes various international approaches to defining the sector's scope, including industry-based, occupation-based, and intellectual property-based models. Central to the research is the application of "Frontier Analysis" techniques: Data Envelopment Analysis (DEA) for measuring technical and scale efficiency, Stochastic Frontier Analysis (SFA) for distinguishing between structural inefficiency and random market noise, and the Malmquist Productivity Index (MPI) for tracking dynamic efficiency changes over time.
Creative Economy, Technical Efficiency, Data Envelopment Analysis (DEA), Stochastic Frontier Analysis (SFA), Malmquist Index, Productivity Measurement.
AUDIT QUALITY ATTRIBUTES AND MARKET VALUE OF LISTED DEPOSIT MONEY BANKS IN NIGERIA
This study examines how key audit-quality attributes—audit fees, audit tenure, and audit report lag—affect the market value of listed deposit money banks in Nigeria, using market price per share (MPS) as the indicator of firm value. The study adopts an ex-post facto research design and utilizes secondary data obtained from the annual reports and NGX fact books of eleven purposively selected banks covering the period 2009–2023. An Autoregressive Distributed Lag (ARDL) model was employed to capture both short-run and long-run dynamics after conducting all necessary diagnostic evaluations. The empirical results show that each audit attribute exerts a significant influence on market value only in the long run: audit fees and audit report lag exhibit a positive long-run effect on MPS, while audit tenure demonstrates a negative long-run effect. These findings suggest that sustained audit effort and more thorough reporting processes may strengthen investor confidence over time, whereas extended auditor–client relationships could raise independence concerns that weaken firm valuation. Overall, the study reinforces the relevance of audit-quality indicators in explaining long-term market value and recommends enhanced audit transparency, periodic auditor rotation, and more efficient reporting processes to improve investor perception and support market stability.
Audit Quality, Audit Fees, Audit Tenure, Audit Report Lag, Market Value.
The downscaling activities of commercial banks and innovative financial services offer by other financial institutions continuously exposed the microfinance institutions to stiff competition necessitating the quest of new strategies of growth. Alliances have become imperative in enterprise growth thus the formation of Share-supply alliances in the microfinance sector. This study aims to examine the influence of shared-supply alliances on the sustainability of MFIs in Cameroon. The objectives are to examine how shared-supply alliances in the Production of Financial Services (PFIS) and shared-supply alliances in the Production of Non-Financial Services (PNFIS) affect the sustainability of MFIs in Cameroon.
SCIENTIFIC AND THEORETICAL BASIS FOR FINANCING HIGHER EDUCATION INSTITUTIONS
This article attempts to analyze the economic content, functions, and principles of financing higher education institutions from a scientific and theoretical perspective, as well as to identify the conceptual foundations of financing models. The results of this study serve to improve financial policy in higher education and effectively organize investments in human capital.
Higher education, human capital, education concept, state budget, private investment, grants, fiscal policy, mixed model, public-private partnership.
REGIONAL STRATEGY OF UZBEK EXPORT IN THE CONTEXT OF GLOBAL ECONOMIC CHANGES
This article analyzes the export-import activities of the Republic of Uzbekistan in 2021-2025. During the study, the dynamics of the country's foreign trade structure, territorial distribution, and product groups were studied. Based on statistical data, scientifically based recommendations for increasing export potential have been developed. The research results are of practical importance for the formation of a regional export strategy.
Export, import, foreign trade, regional strategy, diversification, trade balance, competitiveness.
STUDY OF ENVIRONMENTALLY SAFE AND ENERGY‑EFFICIENT METHODS FOR THE PRODUCTION OF CHEMICAL SUBSTANCES IN THE CONTEXT OF THE CONCEPT OF SUSTAINABLE DEVELOPMENT
The article examines modern approaches to the development of environmentally safe and energy‑efficient methods for the production of chemical substances. Key principles of sustainable development are analyzed, including the application of green technologies, next‑generation catalysts, renewable energy sources, and closed production cycles. Promising directions for optimizing chemical‑technological processes aimed at minimizing environmental impact and improving resource efficiency are identified.
Sustainable development, green chemistry, energy efficiency, environmental safety, catalysis, chemical production.
DYNAMIC CHANGES IN THE STRUCTURE OF TAX REVENUES AND THEIR IMPACT ON THE FINANCIAL STABILITY OF REGIONAL BUDGETS
This article empirically analyzes the dynamic changes in the structure of tax revenues of the State Budget of the Republic of Uzbekistan during the period 2019–2024. Growth trends in direct taxes, indirect taxes, and resource payments are identified, and their impact on the financial stability of regional budgets is assessed. The analysis shows that total tax revenues increased from 112,165.4 billion soums in 2019 to 274,423 billion soums in 2024, representing a 2.45-fold increase. Value-added tax remains the leading component within indirect taxes. Based on the results, recommendations are developed to improve tax policy and strengthen regional financial independence.
State budget, tax revenues, direct taxes, indirect taxes, resource payments, financial stability, fiscal policy, regional budget.
THE ROLE OF DEBT-SERVICE GUARANTEE FUNDS IN ENSURING SOVEREIGN FINANCIAL STABILITY: INTERNATIONAL EXPERIENCE AND PRACTICAL INSIGHTS
In an era of rising public debt levels globally, the mechanisms by which nations ensure the timely servicing of their financial obligations have become a critical barometer of economic credibility. This article explores the strategic role of Debt-Service Guarantee Funds (DSGFs) as a pivotal financial mechanism for managing sovereign debt. By analyzing the operational frameworks of eight diverse economies (India, Malaysia, Turkey, Mexico, the United States, Russia, China, and Germany) this study identifies common features and distinct national adaptations. The findings indicate that dedicated guarantee funds enhance economic security by insulating debt repayment from budgetary volatility, strengthen sovereign credit ratings, and bolster investor confidence. The research concludes that while the funding sources vary (ranging from natural resource revenues to prioritized budget allocations), the underlying principle of securing debt service through dedicated mechanisms is a universal factor in maintaining financial stability and trust in international capital markets.
Public debt management, debt-service guarantee fund, sovereign credit rating, fiscal stability, investor confidence, international case studies
PETROLEUM PROFIT TAX AND ECONOMIC GROWTH OF NIGERIA (2011-2023)
Nigeria is amongst few countries that are endowed with natural resources like crude oil and liquified natural gas. Both resources have brought about high level of oil and gas industrial activities in the country, which have led to huge increase in tax revenue (PPT inclusive). But the poor conditions of public utilities in Nigeria has led to so many questions about the usefulness of taxation in Nigeria. This study therefore investigated the impact of Petroleum Profit Tax on the economic growth of Nigeria, from 2011 – 2023. Petroleum Profit Tax revenues were employed as the independent variable, while Gross Domestic Product (GDP) which was used as a proxy for economic growth served as the dependent variable. Data were sourced from the Central Bank of Nigeria (CBN) statistical bulletin and Federal Inland Revenue Service (FIRS) tax and statistics report. The data were analyzed using the regression analysis. The result showed that Petroleum Profit Tax has positive but non-significant effect on Gross Domestic Product (GDP). The study recommended that government should diversify Nigeria's revenue base by strengthening other sectors of the economy in order to reduce dependency on Petroleum Profit Tax, thereby mitigating the risks associated with fluctuating oil prices. The study also recommended that the government should use reasonable portion of funds generated through Petroleum Profit Tax to provide social amenities for the benefit of the citizens.
Taxation. Petroleum Profit Tax. Gross Domestic Product. Nigerian Economy. Oil Industry.
PROSPECTS FOR SUSTAINABLE DEVELOPMENT OF THE AGRO-ECONOMY SECTOR: CHALLENGES AND OPPORTUNITIES
The sustainable development of the agro-economy sector is increasingly recognized as a key determinant of national food security, rural welfare, and adaptation to global climate change. In Uzbekistan and many other developing economies, agriculture remains a dominant sector, yet it faces structural, environmental, and financial challenges that threaten its long-term stability. This article investigates the prospects of sustainable development in the agro-economy, with a specific focus on Uzbekistan’s agricultural transformation between 2018 and 2024. The study applies a mixed methodological framework, combining econometric modeling, statistical analysis, SWOT assessment, and scenario-based forecasting to examine productivity growth, irrigation efficiency, export diversification, and the transition to organic farming. Empirical findings indicate that the adoption of digital agriculture technologies (AgroTech, AI, IoT) and the establishment of agro-clusters have contributed to improvements in yield, market access, and resource management. However, persistent issues such as excessive water consumption, limited renewable energy integration, and insufficient access to green finance continue to slow progress. Comparative analysis with international best practices from the European Union, China, and Turkey highlights both opportunities and gaps in Uzbekistan’s agricultural policies. The paper concludes by recommending strategic policy measures that include the promotion of green financing instruments, expansion of renewable energy in rural areas, strengthening of value chains, and the development of climate-resilient farming practices. These measures are expected to foster a competitive, inclusive, and sustainable agro-economy that is aligned with the United Nations Sustainable Development Goals (SDGs).
Sustainable agriculture, agro-industrial development, value chain integration, climate-smart agriculture, water-use efficiency.
KEY ASPECTS IN THE IMPLEMENTATION OF GENDER-RESPONSIVE BUDGETING IN UZBEKISTAN
The article examines gender-responsive budgeting in Uzbekistan, its fiscal implications, and its role within public financial management. Using gender analysis and institutional assessment, the study highlights gender disparities, evaluates challenges in budget implementation, and draws on international experience to propose measures for integrating GRB into the national budget system.
Gender-responsive budgeting, public financial management, Uzbekistan, gender equality, labor force participation, fiscal sustainability, budget efficiency, gender indicators, policy implementation, international frameworks
USING MODERN MARKETING AND MANAGEMENT OPPORTUNITIES IN SUSTAINABLE ECONOMIC DEVELOPMENT IN THE EXAMPLE OF UZBEKISTAN
This article analyzes the importance of modern marketing and management principles in the process of sustainable economic development in the Republic of Uzbekistan, their interrelationships and practical application possibilities. It also highlights effective methods of ensuring economic stability based on innovative approaches, digital technologies and the principles of social responsibility.
Sustainable development, marketing, management, innovation, digital economy, strategic management, social responsibility, Uzbek experience.
FEATURES OF WORLD AND UZBEKISTAN PRACTICES OF ASSESSING THE VALUE OF SMALL BUSINESSES
This article compares the global experience and Uzbekistan's practice of small business valuation. It analyzes the advantages and limitations of the income, market, and cost approaches applied in determining the value of small business assets. Worldwide methods such as DCF modeling, valuation multiples, and goodwill assessment are examined in the context of Uzbekistan's economic environment. Issues related to transparency of financial statements, market price formation, and asset revaluation in local enterprises are discussed based on real cases. The study concludes with practical recommendations for improving small business valuation in Uzbekistan.
Small business, valuation, market value, DCF, multiples, goodwill, assets, Uzbekistan economy.
RESEARCHING THE TRANSFORMATIONAL IMPACTS OF HUMAN POTENTIAL ON THE ECONOMIC DEVELOPMENT OF REGIONS
This research explores the transformational impact of human potential on regional economic development within the framework of globalization and Industry 4.0. The study aims to quantify how investments in human capital (HC) drive economic growth both directly and through intermediary channels such as institutional quality, environmental sustainability, and infrastructure development. The study employs a quantitative approach utilizing a Structural Equation Model (SEM). Data were gathered from a survey of 100 respondents using a 5-point Likert scale to evaluate five primary constructs: Human Capital (HC), Governance and Institutional Quality (GIQ), Environmental Quality (EQ), Infrastructure Development (ID), and Regional Economic Development (RED). The model's reliability was validated through Cronbach’s alpha (0.80–0.87) and goodness-of-fit indices, including CFI (0.93) and RMSEA (0.05). The study concludes that strategic investment in human potential is the foundational pillar for economic stability and competitiveness. While infrastructure and environmental factors are necessary (impacts of 0.350 and 0.280 respectively), their effectiveness is contingent upon the quality of human capital available to manage these resources.
Human Capital, Regional Economic Development, Structural Equation Modeling (SEM), Institutional Quality, Sustainable Development, Innovation.
IMPROVING THE MANAGEMENT ACCOUNTING OF MATERIAL PRODUCTION COSTS IN BUSINESS ENTITIES
This article examines the emergence of problematic issues in the organization of product cost accounting at local enterprises and the development of proposals for its improvement.
Accounting, material costs, production, enterprise, improvement, expenses.
HOW FINANCIAL LITERACY INFLUENCES FINTECH USAGE IN RURAL UZBEKISTAN JEL G41
The study looks at how financial literacy affects Fintech use in Uzbekistan. It also identifies key socio-demographic factors. The findings show that financial literacy, education level, employment status, and savings rate boost Fintech usage, especially payment systems like “Click,” “Pay me,” and mobile banking. Moreover, financial literacy helps connect education and employment to Fintech usage. This underscores the need for educational programs and job opportunities to promote financial inclusion through Fintech in Uzbekistan. About 18% of the population's openness to Fintech is explained by these factors. However, financial training does not seem to impact on Fintech usage among people.
Fintech, Payment systems, financial inclusion, financial literacy, financial training.
OBJECTIVES, TASKS AND PRINCIPLES OF EFFICIENT MANAGEMENT OF ENTERPRISES
Recently, issues related to profit management have become increasingly relevant both theoretically and practically. Profit characterizes the financial results of the organization for a certain period of time and is one of the main indicators that external contractors and owners make decisions about the company. At the same time, it should be remembered that the profit performs the function of an accounting indicator, which is calculated in accordance with the approved accounting standards. One of the fundamental printouts of the account-the application of the method of calculation – leads the managers of the company to the fact that it is necessary to make decisions on determining the main elements of profit (income and expenses), as well as the time of their evaluation.
THE IMPACT OF PROJECT MANAGEMENT ON THE EFFICIENCY OF IMPLEMENTING INNOVATIVE BANKING PRODUCTS AND SERVICES
This article analyzes the correlation between the project management methodologies used and the final results of innovation implementation in banking structures. The study systematizes key success factors and identifies potential risks associated with the implementation of such projects. Based on the theoretical analysis and practical experience, a conclusion is reached regarding the high feasibility of using hybrid project management models in the development and integration of innovative banking solutions.
Project management, innovation, banking products, banking services, digital transformation, Agile, hybrid methodologies, risk management, bank competitiveness.
MICROFINANCE AND SME LENDING: CHALLENGES AND OPPORTUNITIES IN UZBEKISTAN
This study examines the current state, challenges, and opportunities of microfinance and small and medium enterprise (SME) lending in Uzbekistan's rapidly evolving financial sector. Using a mixed-methods approach incorporating statistical analysis, literature review, and policy document examination, we analyze data from 2022-2025 covering 218 microfinance institutions and the broader SME financing landscape. Results demonstrate explosive growth: microfinance loan volumes doubled to 21.3 trillion soums in the first nine months of 2025, while total microfinance services reached 66.9 trillion soums (up 1.9-fold). However, critical challenges persist: only 10% of small and 16% of medium enterprises access credit, creating a $6 billion financing gap. Key barriers include insufficient collateral, limited financial literacy, high interest rates (averaging 35.9%), and gender disparities (women-led businesses receive only 14% of SME loans despite owning 33% of enterprises). Opportunities emerge through digital transformation (69% of MFO loans now online), regulatory reforms including collateral-free lending up to 100 million soums, and international support programs targeting 7,000 MSMEs by 2030. This research contributes empirical evidence on Uzbekistan's microfinance evolution and provides actionable recommendations for policymakers, financial institutions, and development organizations to enhance financial inclusion and SME sector growth.
STUDY OF ENVIRONMENTALLY SOUND AND ENERGY-EFFICIENT METHODS OF CHEMICAL PRODUCTION IN THE CONTEXT OF THE CONCEPT OF SUSTAINABLE DEVELOPMENT
The article discusses modern approaches to the development of environmentally friendly and energy-efficient methods of chemical production. The key principles of sustainable development, the use of green technologies, new generation catalysts, renewable energy sources and closed production cycles are analyzed. efficiency.
OPTIMIZATION OF BUSINESS PROCESSES, SUPPLY CHAINS AND OPERATIONAL EFFICIENCY THROUGH INTELLIGENT SYSTEMS AND PREDICTIVE ANALYTICS
This research examines the transformative impact of artificial intelligence (AI) and big data analytics on corporate operational efficiency, supply chain resilience, and business process optimization. Based on comprehensive analysis of empirical data from McKinsey Global Surveys (2024-2025), and the UNDP's "Digital Economy of Uzbekistan" (2025) study, and contributions from Uzbek scholars including Zukhurova N.A. (TUIT), Yuldashev A.A. (TSUE), the study demonstrates that organizations effectively integrating AI-driven predictive analytics achieve 20-30% reduction in inventory costs, up to 50% improvement in forecasting accuracy, and 15-25% enhancement in overall operational efficiency. With 88% of global organizations now reporting regular AI use and 65% adopting generative AI, the paradigm has shifted from experimentation to strategic scaling. The study specifically analyzes the context of Uzbekistan, where the Government AI Readiness Index ranking has significantly improved from 87th (2023) to 62nd (2025) place. Through detailed comparative case studies of Siemens, Microsoft, Amazon, DHL, and Alibaba (Cainiao), the research synthesizes global best practices for emerging economies. Incorporating insights from Uzbek scholars including Zukhrova N.A. (TUIT) and Yuldashev A.A. (TSUE), the paper proposes a strategic roadmap for 2026–2030, targeting a $10 billion contribution to Uzbekistan's GDP by 2030.
Artificial Intelligence, Big Data, Predictive Analytics, Supply Chain Optimization, Operational Efficiency, Business Process Automation, Intelligent Systems, Machine Learning, Digital Transformation, Uzbekistan AI Strategy, Enterprise AI Adoption.
INCREASING FINANCIAL STABILITY THROUGH THE INTRODUCTION OF DIGITAL TECHNOLOGIES IN COMMERCIAL BANKS
This article analyzes the issues of ensuring financial stability in commercial banks through the implementation of digital technologies. The economic efficiency of the digitization process, its impact on the banking sector, and practical results are discussed using the example of commercial banks in Uzbekistan. Additionally, proposals are developed to address the existing problems. The article serves as a tool for further study and improvement of digital transformation processes in the banking sector.
Digital technologies, commercial banks, financial stability, digital transformation, artificial intelligence, cybersecurity.
OPPORTUNITIES FOR DIVERSIFYING ECONOMIC SECTORS THROUGH IPOS
The article analyzes the theoretical and practical aspects of diversifying economic sectors through the IPO (Initial Public Offering) mechanism. The possibilities of balancing the economic structure through the development of the capital market, mass corporatization of enterprises, and the wide attraction of investment resources are substantiated. The role of the IPO process in increasing investment activity, supporting innovative sectors, and ensuring economic stability will also be revealed. The study highlights the experience of emerging markets and priorities for accelerating structural changes through IPOs, using the example of the Uzbek economy. As a result, it is scientifically substantiated that the deepening of the capital market and the improvement of the investment climate is an important factor in economic diversification.
IPO, economic diversification, capital market, investment environment, joint-stock company, corporate governance, innovative development, investment resources, economic stability, OECD recommendations, financial market, economic modernization.
ENHANCING PROBLEM LOAN MANAGEMENT IN COMMERCIAL BANKS OF UZBEKISTAN
This scientific article examines the issues of improving the mechanisms for managing problem loans in commercial banks of Uzbekistan. The study provides an in-depth analysis of the institutional, macroeconomic and microeconomic factors of the formation of problem loans in the bank's loan portfolio. Modern methods for early identification, monitoring and effective organization of restructuring processes of problem loans are studied on a scientific basis. Also, advanced mechanisms for managing problem loans based on international banking practice and Basel standards are evaluated, and practical proposals are developed to adapt them to the banking system of Uzbekistan. The results of the study serve to increase the financial stability of commercial banks, reduce credit risks, and ensure the overall efficiency of the banking system.
Problem loans, commercial banks, credit risks, loan portfolio quality, problem asset management, banking system stability, restructuring, Basel standards.
ACHIEVING SUSTAINABLE AND INCLUSIVE ECONOMIC GROWTH THROUGH EXPORT-IMPORT POTENTIAL
This study develops a holistic and practice-oriented methodology for achieving inclusive economic growth through the long-term enhancement of export-import potential. In many emerging economies, foreign trade is not simply a channel for market expansion; it is a foundational mechanism that introduces new technologies, stimulates competitiveness, and strengthens macroeconomic resilience. Guided by both classical and modern trade theories, this research explores how diversification, industrial upgrading, trade facilitation, and institutional reforms interact to support sustainable development. Drawing on international experience and recent economic reforms undertaken in Uzbekistan, the paper identifies key structural and policy factors that determine the effectiveness of trade-led growth. The findings suggest that only a coordinated approach combining innovation, strong institutions, and evidence-based policy design can transform export-import potential into a stable source of inclusive economic growth.
Export-import potential; inclusive economic growth; trade diversification; industrial upgrading; competitiveness; foreign trade policy; global value chains (GVCs); trade facilitation; macroeconomic stability; innovation-driven development.
THE IMPACT OF AUDITING ON PRODUCTION EFFICIENCY IN FRUIT AND VEGETABLE PROCESSING ENTERPRISES
This article discusses the theoretical essence of auditing in fruit and vegetable processing enterprises and the mechanisms of its influence on production efficiency. The specific features of the industry - seasonality, perishable raw materials, cold chain, laboratory quality indicators (BRIX, pH, dry matter), the presence of normal and excessive losses - justify the need to organize the audit methodology in a process-centered and risk-based approach. The study interprets the classical principles of auditing in an adapted way to production processes and reveals the role of audit evidence in ensuring the connection between physical flows and financial results. The article scientifically substantiates the importance of audit results in reducing costs, increasing output coefficients, reducing technological variability, and making management decisions based on evidence.
Fruit and vegetable processing, audit, internal control, process-centered approach, risk-based audit, production efficiency, output coefficient, cost, audit evidence, cold chain.
INTERGOVERNMENTAL TAX ALLOCATION MODELS AND THEIR EFFECTIVENESS IN DEVELOPED COUNTRIES
The article emphasises the significance of the inter-budget tax distribution system in state financial management and the importance of mitigating inter-regional disparities through financial, organisational, and institutional methods. Based on the experience of developed countries, it analyses models of inter-budget tax distribution and the division of powers between central and local budgets, as well as levels of financial independence.
Taxes, interbudget allocation, fiscal policy, financial resources, local budgets, transfers.
FOREIGN COUNTRIES' EXPERIENCE IN ENSURING AND ASSESSING THE SOLVENCY OF INSURANCE ORGANIZATIONS
This article presents an analysis of the experience of foreign countries in ensuring and assessing the solvency of insurance organizations. In addition, proposals and practical recommendations aimed at the experience of foreign countries in ensuring and assessing the solvency of insurance organizations have been developed.
Insurance market, insurance organizations, insurance payment, insurance premium, insurance money, insurance liability.