MEDJUNARODNA POLITIKA


Medjunarodna politika

N°. 1151,   July-September 2013









Prof. Ph.D. Dragan JOVAŠEVIĆ,
CRIME AGAINST HUMANITY IN INTERNATIONAL AND NATIONAL CRIMINAL LAW

ABSTRACT   International criminal law as a system of legal rules contained in the documents of international community and in the documents of national (internal) criminal law provides criminal liability and punishment for a great number of international crimes, among which crime against humanity is the most prominent. These crimes are acts of breaking war laws and rules of warfare (international humanitarian law) and they are also the acts of endangering peace among nations and security of the mankind. For perpetrators of these crimes in certain cases the primary jurisdiction is the one of international criminal court (supranational) authorities. In this paper the author has analysed the notion and characteristics of crime agains humanity from the theoretical and practical aspects in internationa criminal law and in criminal law of Serbia, Croatia and Bosnia an Herzegovina.
Key words   international criminal law, crime, crime against humanity, national criminal law, responsibility, penalty

Nada Raduški, Ph.D
SERBS ON THE TERITORY OF CROATIA IN THE SECOND HALF OF THE XX AND IN THE EARLY XXI CENTURY

ABSTRACT   This paper is based on a different approach to the status of the Serbs in Croatia analyzing their population growth, demographic characteristics, rights, the national identity of the Serbs as well as the ways and possibilities of its maintenance. The main data sources are the official population censuses considering that the size and ethnic compactness are the main demographic factors, which significantly affect the achievement of rights and freedoms of every minority. The paper highlights the problem of refugees and the issue of sustainable return of the Serbs to Croatia and achievement of their fundamental rights. Regional cooperation and bilateral treaties are the way for the homeland country for the efficient protection of its compatriots as well as the efficient mechanism for better integration of minorities in all fields of the social life in the country where they live.
Key words   Serbs, national minority, demographic trends, national identity, refugees, status, rights, census, Croatia






Milovan Radaković, Ph.D
THE POWER OF GERMANY

ABSTRACT   Germany is today the first economy of Europe. A nation that leaves no one indifferent has managed to establish itself through the EU, thus becoming one of the most influential countries in the world. Germany’s contribution to world politics, economy and culture, as well as its present significance make consideration of the Germans, their country, identity, their understanding of organization and the strength and Germanic spirit very pertinent. The Europeans have always followed the rise of the German state with respect and caution, given the historical constellation.
Key words   Germans, Germany, identity, nation, organization, power, spirit.






Vladimir Trapara, M.A.
UNITED STATES–RUSSIA RELATIONS IN OBAMA’S SECOND TERM

ABSTRACT   Obama’s first presidential term was marked by both the beginning of the U.S.-Russian “reset“, and its failure. Since spring 2011, most of the positive outcomes of the “reset“have been annulled including the achieved spirit of cooperation. In Obama’s second term, we are witnessing further worsening in relations between the two powers, which is also accompanied by cold personal relations between the two presidents, Obama and Putin. Prospects for the future are pessimistic, at least until the end of Obama’s term. Nevertheless, we cannot talk of a new Cold War in the sense of the previous confrontation between the two superpowers, but rather of the clash of visions of mutual relations and international order, and yet another failed attempt of the U.S.-Russian rapprochement.
Key words   United States, Russia, Obama, Putin, reset, cold war, rapprochement.






Mohyedein Ahmad Almadaney, M.A.
THE EUROPEAN UNION POLICY TOWARDS SUDAN

ABSTRACT   After gaining independence from Egypt and the United Kingdom in 1956, many turmoils have occurred in Sudan such as military regimes, civil wars followed by ethnic, religious and economic conflicts between the Northern and Southern Sudan, coup d'état in 1989, USA attacks on Sudan and a new Constitution in 1989, uprising in Darfur, and the independence for Southern Sudan in 2011. The second civil war, which lasted over two decades, resulted in more than four million displaced persons and more than two million deaths in Sudan. Besides, during the conflict in the Darfur region, nearly two million people were displaced and more than 300,000 deaths were caused. Constant conflicts and turmoils in Sudan since the mid-20th century have affected all neighboring states, and many of them have provided shelter for over a half million of Sudanese refugees. Additionally, Sudan is a source and transit country for men, women, and children who are subjected to forced labor, forced begging or sex trafficking in Europe, Middle East countries, and others.
On the other hand, after establishing the European Union, with constant institutional reforms, the EU has nowadays developed the Common Foreign and Security Policy. Since 2011, it has officially launched the European External Action Service – EEAS, which represents the European Union's diplomatic corps. The key issues for the EU External Action Service towards Sudan are providing aid for recovery across the war-affected areas, maintaining the dialogue with the governments of the Republic of Sudan and the Republic of South Sudan, and providing humanitarian aid.

Key words   civil wars, conflicts, refugees, trafficking, Common Foreign and Security Policy (CFSP), European External Action Service (EEAS), humanitarian aid






Pero Petrović, Ph.D. , Dobrica Vesić, Ph.D.
IMPLEMENTATION OF ORGANIZATIONAL CULTURE AND CLIMATE POLICY
IN A CONTEMPORARY ORGANIZATION


ABSTRACT   The work aims to investigate how companies can effectively manage the organizational culture by implementing appropriate business policies. Organizational culture is considered one of the key segments of organizational success. Its influence on the behavior of the human factor in the work process is very important. Organizational culture directs and defines everyday behavior as well as activities of people in an organization. The paper considers the concept, elements and classification of organizational culture. Besides, ways of creating and keeping of organizational structure are also analyzed.
Key words   organizational culture, influence, elements, organizational structure






Zoran Golubović
INFORMATION AND COMMUNICATION MANAGEMENT IN ECONOMIC DIPLOMACY

ABSTRACT   The primary goals of economic diplomacy as a tool of establishing and developing relationships between countries and other international institutions, organizations, or individuals, are the protection of national economic interests and the promotion of industry capabilities, services and brands on the international market. Without communication and information, it is virtually impossible to conduct any economic or diplomatic activity. Information and communications in economic diplomacy are affected by numerous factors of which specific features of economic diplomacy activities and the international environment are the crucial ones. Modern tools of communication and transfer of information are the personal communication of a contemporary economic diplomat and electronic communication.
Key words   information, communication, economic diplomacy






Ana Jovašević, M.A.
MODERN TRENDS IN EUROPEAN CULTURAL POLICY

ABSTRACT   Created on the European soil in different and intertwined relationships between European countries as a metanational category, the European cultural identity appears as the integrating factor in overcoming of individual national identities. It is founded in the historical identity of Europe, which is transformed projecting the common idea of the European future. But, Europe is not a unified and homogeneous space, but the specific characteristic of the European cultural identity is regional cultural identities. In perceiving the role and importance of the region for the European cultural identity of particular significance is the region of South-Eastern Europe (including the Republic of Serbia). By all this, the region can be defined in two ways: a) subjectivistically and b) objectivistically. Among regions, most often are ethnic (cultural), industrial (urban), topographic (climate), economic (specialized), administrative and supranational political-economic region and other regions. This paper deals with the relations and influences of the region and the European cultural identity as the central concept of the modern cultural policy of Europe today.
Key words   Europe, culture, cultural identity, integration, diplomacy, regions






Mladen Stojadinović, M.A.
THE NOTION, SIGNIFICANCE AND FUNCTION OF INFRASTRUCTURE FOR PEACE
– WHY IS IT NECESSARY TO HAVE A (NON)INSITUTIONAL SUPPORT
FOR TRANSFORMATION OF CONFLICTS


ABSTRACT   The aim of the paper is to define the concept of Infrastructure for Peace, as well as to make a short comparison of the existing Infrastructure for Peace in regard to the so-called War Infrastructure. Here is offered a small contribution to the explanation of importance of Infrastructure for Peace both as an emerging theoretical concept and the approach to conflicts based on it. Furthermore, it will deal with functions, components and limits of Peace Infrastructure, but also with its specific institutional elements, i.e. peace councils and ministries for peace. The author argues that the future transformation of deep-rooted conflicts will be significantly brighter if elements of Infrastructure for Peace are strengthened, even despite some ambiguities this concept brings with it.
Key words   infrastructure for Peace, conflict, „War Infrastructure“, military-industrial complex, peace councils, ministries for peace





Medjunarodna politika

N°. 1150,   April-June 2013






Vladimir PRVULOVIĆ, Prof. Ph.D.
NEGOTIATION SKILLS IN INTERNATIONAL RELATIONS
(CASE STUDY: NEGOTIATIONS BETWEEN BELGRADE AND PRISTINA UNDER
THE AUSPICES OF EU)


ABSTRACT   The paper analyses the problems, variants, strategy and negotiation skills of the Serbian representatives in talks with Priština under the auspices of the European Union in Brussels. The first part discusses the need for a high level of expertise and training of public officials and negotiators in order to be able to achieve high results in the protection of state interests. Based on the views presented in the article we have come to the following conclusion: We cannot improve our foreign policy position without public officials who are especially trained and responsible for those functions and are also willing to work in general (not the party) interests. Without trained, prepared and verified negotiators with hard negotiation skills, there is no success in international negotiations. There are no successful negotiations without a solid, pre-arranged and detailed negotiation strategy for each possible course of negotiations. If the negotiations are conducted under pressure and with an imposed solution, these are not negotiations but an ultimatum and, as such, they should be dismissed.
Key words   public functions, public officials, international negotiations, negotiation skills, negotiation strategies, ultimatum






Marija UROŠEVIĆ


ABSTRACT   In this article, the author analyses the impact of the political situation in Serbia on the enlargement policy and its achievements on the path towards EU. Maintaining credibility of the enlargement process, which is crucial to its success, EU has consistently proclaimed the inclusiveness of its policy towards the Western Balkans with the successive European Council confirming that the future of the whole region lies within EU. The Stabilisation and Association process remains the common framework for the necessary preparations. The European Commission has assessed that Serbia has achieved the necessary degree of compliance with the membership criteria. In particular, the key priority has been taking steps towards a visible and sustainable improvement of relations with Kosovo. Further constructive dialogue between Belgrade and Priština is necessary precondition for starting the negotiations with EU. Nevertheless, the deep economic crisis in the EU gives no opportunity for the dynamic and faster European integration of Serbia.
Key words   European Union, enlargement, Western Balkans, Stabilisation and Association process, Serbia, achievements, dialogue, economic crisis






Dušan PROROKOVIĆ, Ph.D.
VISEGRAD GROUP: REASONS FOR INTEGRATION AND ITS PERSPECTIVES

ABSTRACT   The article analyses the integration of Poland, the Czech Republic, Slovakia and Hungary into the Visegrad Group (VG). Forming of VG helped in keeping stability in this part of the Europe after the fall of the Eastern bloc. Still, its forming was influenced by other, long-term interests of the geostrategic character. Having this in mind, the structure of this article is divided into six parts. In the first, introductory part, the basic data of the member states are presented. The second part deals with the historical roots of instability in the relations between some VG members. The third part is devoted to the economic effects of forming VG and the effects caused by the great economic crisis. The fourth part deals with the geopolitical aspects of forming VG and the US geostrategic interests in Central and Eastern Europe. In the fifth part, we are trying to show the potential future political hot spots: Silesian issue (in Poland), Moravian issue (in the Czech Republic), Slovak-Roma relations and the periodical radicalization of the Hungarian electoral body. The sixth part is the conclusion.
Key words   Visegrad Group, EU, NATO, demarcation in Central Europe, economic parameters, trade, Silesia, Moravia, Roma question, Hungarian radicalism, geostrategy, geopolitics.






Marija NEDELJKOVIĆ-PRAVDIĆ, M.A.
NEW WEST GERMAN EASTERN POLICY AS A MODEL OR CONFLICT RESOLUTION

ABSTRACT   After the end of the Second World War Germany was split and the divisions between the peoples of the two Germanies were reflected in their different political systems. They were aggravated by the policy of the Federal Republic of Germany (FRG) which wanted reunification of Germany, while the Democratic Republic of Germany (GDR) sought, above all, to gain international recognition. In 1969, a big turn occurred in relations between the two countries when the social-liberal coalition led by Willy Brandt came to power. The „Neue Ostpolitik“ of Willy Brandt aimed to take a more realistic approach to the dominant trends in East-West relations. The paper aims to explore the achievements made in the field of contractual relations and to examine to what extent this policy model can be applied by countries facing similar problems. In this regard, the author has considered the case study of the two Koreas. The success in conflict resolution largely depends on the ability of the parties involved to adapt to the changes in the international environment when they occur. The author concludes that Neue Ostpolitik is partially applicable to the case of the two Koreas.
Key words   Ostpolitik, policy of détente, Cold War, Holstein Doctrine, Neue Ostpolitik, Korea, Nordpolitik, Sunshine policy, USSR, USA






Đorđe N. LOPIČIĆ, Ph.D.
1963 VIENNA CONVENTION ON CONSULAR RELATIONS – A SHORT OVERVIEW ON THE OCCASION OF ITS 50TH ANNIVERSARY

ABSTRACT   This article presents of short overview of 1963 Vienna Convention on Consular Relations on the occasion of 50th anniversary from its entering into force on 24 April 1963. The Vienna Convention on Consular Relations from 1963 is primarily the biggest success of the United Nations concerning the codification of International Consular Law, which was for centuries uncodified. For 50 years since it was adopted, 1963 Vienna Convention on Consular Relations has justified its existence in the international consular practice, since it was adopted by 175 countries. It could not resolve all issues and problems of consular relations and consular matters, but it has done for most important issues. It has its errors, but it has been left to the states in bilateral consular conventions to solve these problems. It was expected that the Convention would adopt complete immunity to consular officers as was done with diplomats, but it was not adopted. The Yugoslav delegation led by Prof. Milan Bartoš made a significant contribution during the preparations for the Conference and at the very Conference in Vienna when the Convention was adopted. In the Yugoslav and Serbian consular practice, the Convention has justified its existence and helped to resolve thousands of consular cases during these 50 years.
Key words   1963 United Nations Conference on Consular Relations and Immunities of Vienna, 1963 Vienna Convention on Consular Relations






Dragoljub TODIĆ, Ph.D.
POLITICS OF GLOBAL CLIMATE CHANGE AND STATE POLICIES OF THE LARGEST GREENHOUSE GAS EMITTERS

ABSTRACT   The paper presents the general framework of the law and policy of climate change identified in the existing international treaties in the field of environment and in particular the provisions of the UN Framework Convention on Climate Change and the Kyoto Protocol. By considering the specific situation of individual countries and using different criteria (share in total emissions of greenhouse gases, membership in international treaties, the implementation of international treaties, the definition of strategic objectives and the existence and characteristics of national legal systems in the area of climate change) there have been analysed the elements of the policy and law of the states which are the largest GHG emitters. It has especially considered the situation in the Member States of Annex I of the UN Framework Convention on Climate Change (Australia, Japan, Germany, UK, USA, Russian Federation) and the situation in several countries that have the status of “non-Annex I” (China, Brazil, India, South Africa, Mexico). The paper is based on the assumption that the global policy on climate change depends solely on the policies of the major GHG emitters. This paper describes the thesis that the policy of the largest GHG emitters, despite the differences, has common elements of importance for the achievement of global politics.
Key words   Climate change, environment, climate change law, Kyoto Protocol, greenhouse gases (GHGs), largest emitters






Željko JOVIĆ, Ph. D.
CONTEMPORARY ENVIRONMENTAL CRISIS: ORIGIN, GENESIS AND CONSEQUENCES

ABSTRACT   The subject of the paper is to perceive the important aspects of the contemporary environmental crisis and especially the cause of its origin, what results in the deviations, which have appeared in the process of accelerated and excessive industrialisation of the modern society.
Apart from presenting the development of the environmental crisis and pointing to its climax at the present time, the authors aims to point out its key consequences or actually negative effects, which could exert a great impact not only on the considerable lowering of the quality of life of the man in the future, but also on the survival of the Earth itself and the whole mankind.
Concerning this as one of the specific consequences of the environmental crisis, there have emerged radical ideologies. Intending to protect the nature and the living world their activities and possible responses to the existing system of values are focused on the use of violence, terrorist methods and weapons.

Key words   environmental crisis, violence, terrorism, direct action, radical environmental movements





Medjunarodna politika

N°. 1149,   January-March 2013






Željko JOVIĆ
UNITED NATIONS PEACE MISSIONS AND CONTEMPORARY CHALLENGES

ABSTRACT   This paper will briefly consider some of the contemporary challenges connected with the processes of globalization and their effects on UN peace missions. UN Peace missions have become their most visible concept, witnessed significant growth since the last decade of the 20th century, and have evolved into the cornerstone of the international community as a response to the international crisis. Globalization has entered a turbulent period and emerged as a significant threat to international security, stability and prosperity. If organization is to be a meaningful part of an international mechanism to deal effectively with global security challenges, then UN must understand and take them in consideration during the performing peace missions.
Key words   UN, globalization, IMF, World Bank, peace missions






Branislav R. Srdanović, Ph.D.
EXTRADITION BETWEEN LAW AND POLITICS

ABSTRACT   This scientific article is aimed at providing an overview of historical development of extradition, its nature, changes, legal determination, exposition to political influence, conditions and limitations, as well as its gap between the need to protect rights of an individual in the extradition procedure, on one hand, and the need to suppress growing international crime, on the other. Since extradition bivalent procedure showed inconsistencies in practice, that problem has led to permanent efforts of legal science to increase its efficiency. There are no sufficient scholars writings on extradition in the Balkans and the beginning cooperation among the Balkan states seems to be more or less restrained, despite the fact that the growing international crime has become the real and actual threat not only in this region, Bearing in mind the importance of extradition law for the Balkan countries, this article intends to encourage research and cooperation, because extradition, despite its limitations, remains the most effective tool in suppressing international crime. The method of work used in the article is the comparative analyses of foreign literature as a base for drawing conclusions on the major trends of extradition law.
Key words   extradition, political offense (exception), international crime






Dobrica VESIĆ, Ph.D.
ROLE OF CORPORATE GOVERNANCE IN ENERGY COMPANIES IN THE REGION OF SOUTHEAST EUROPE

ABSTRACT   Effective management of companies in the energy sector in the countries of the region is essential for their energy security. Therefore, the role of modern corporate corporate governance as a form of effective management is irreplaceable. In the energy sector in the region, the largest economic entities, especially economic entities that manage energy systems (networks), are public companies.
The first element for good corporate governance – the corporatization – is not applied in public enterprises in the energy sector. Today, modern corporate governance is most complex process than it has been ever before. Reform and implementation of modern corporate governance is a good way to achieve efficient and effective goals of strengthening enterprise competitiveness. Corporate governance should ensure strategic guidance of the company, work of the assembly and management, supervision of managers, this also including the company and shareholders. Owners and investors are already aware of the necessity to have responsible and professionally skilled employees for the management of a corporate governance system. Obviously, this new era requires a permanent education programme in all fields, and in fact, it is an imperative now. The process of reform of the legal system is connected with most aspects of corporate governance in public enterprises in the energy sector and since the reform process has not been completed, successful business of those enterprises has not potentially improved. Corporate governance is an integrated system with the complicated goal – to achieve the balance between numerous subjects with different interests. Some of those factors are within a public company (shareholders, members of the board, executives, internal auditors, employees), while others come from capital markets (investment banks, external auditors, investments analysts, Securities and Exchange Commission, etc.). In the light of corporate governance phenomenon, the paper has analysed, the ability of a public company to access capital markets and control the risks.

Key words   energy security, corporate governance, public enterprises, risks, capital markets






Milovan Radaković, Ph.D.
INCIDENTS AND LOW-INTENSITY CONFLICT AS A REFLECTION OF THE FORMER EUROPEAN POWERS

ABSTRACT   Incidents, as well as low-intensity conflicts, are often only indicators that two or more states may enter into a wider conflict. Beyond these specific incidents, there is usually a much larger problem between two or more states and the specific incident is only an indicator of a larger conflict. The reasons for the outbreak of small-scale conflicts or incidents may be diverting public attention from a problem within the country to a specific foreign conflict. Such conflicts often represent a shadow of former imperial campaigns of great colonial powers, so the incident is given some measure of "arrogance" of a particular state. In the last decades, this so-called "imperial impulse" occurred in Spain and the UK. Madrid and London were "challenged" and as sovereign countries, they intervened militarily in the respective cases. However, overall ratio and result of such interventions is generally relatively small, considering the military capabilities that are set in motion and disturbance of public opinion that occurs in such situations.
Key words   United Kingdom, Spain, Morocco, Argentina, Europe, Africa, South America Islands, Incident, Conflict, Perehil, Gilbratar, Falklands






Momčilo SAKAN, Proff. Ph.D.
NOTION, CHARACTERISTICS AND VALUES OF PEACE

ABSTRACT   The paper first considers peace. Then it makes a comparative analysis of its numerous definitions. On the basis of such an analysis, the complex definition is given that reflects the scope and the contents of peace. The second part deals with basic characteristics of peace as a phenomenon pursued by the progressive mankind. These are as follows: connections with important characteristics and values of specific societies or social groups, contradiction, complexity, dynamics, temporariness, hierarchism, particularity, humanity, causality, orientation and relative openness. A separate section explains peace as a value that frees of the tutelage and of various prejudices, enables creativity, frees from all forms of slavery and increases the overall power of man, social groups and nations.
Key words   peace, tolerance, value, thing, reality, process, emergence, social creation






Ljiljana NIKŠIĆ, Ph.D.
SUPREMACY OF GREAT POWERS FROM THE ASPECT OF POLITICAL THEORY AND WORK OF UN

ABSTRACT   Political theory is trying to explain, from understandable level of abstractedness, all political phenomena enabling research and establishment of all relevant facts related to political phenomena as well as all principles, which rule in this sphere of social reality that is considered political sphere. That overall and complete approach to the subject of political science is the first characteristic of theory of politics. The second characteristic of theory of politics is updating. Political theories are specifically divided into those, which belong to history, and those, which have the status of contemporary that is combined to depict the phenomenon of supremacy in politics. Unlike political theory, which is first founded on facts and only then on hypothesis, political philosophy is based on moral religious and meta-physical values that are outside of the political reality.
Key words   supremacy, political theory, national, supranational factors, peace organizations






Slobodan NEŠKOVIĆ, PhD.
MEANS OF INTERNATIONAL POLITICS WITH A SPECIAL FOCUS ON ECONOMIC RESOURCES

ABSTRACT   Subjects of international politics, especially the state, use a wide conglomerate of resources to implement foreign policy objectives. The choice of funds within the decision-making process is the choice of activity that should in the current situation make change in the international community for the purpose of its own conceptions. Most of the foreign policy actions are planned and implemented in cooperation with certain actors, since there is interdependence on a global scale. The paper discusses the most important means in international affairs with a focus on economic resources. The author points to the phenomenon of economic warfare as essential tools in modern international constellation.
Key words   international politics, resources, economic resources, market, economic warfare






Goran NIKOLIĆ, M.A.
SERIOUS ORGANISED CRIME AGENCY – SOCA

ABSTRACT   The paper containts an overview of the existing police organisation in Great Britain, also treating the reforms taken in the security sector. Special attention is devoted to the analysis of facts that led to the estalbishment of Serious Organised Crime Agency – SOCA as a central police organisation with executive police powers and rights to execute them throughout Great Britain. Its primary goal is to fight against perpetrators of crimnal acts belonging to serious and organised crime. The author has also analysed the agencies which are incorporated in SOCA as well as its bodies, structure, fields of acting and modes of its internal and external control.
Key words   Great Britain, Home Office, Metropolitan Police Service, Security Service-SS (M15), Joint Terrorism Analysis Centre – JTAS, Serious Organised Crime Agency – SOCA






Prof. Predrag GORANOVIĆ, Ph.D.
UNEMPLOYMENT INSURANCE IN THE COUNTRIES IN THE REGION

ABSTRACT   Employment is one of key interests of any state and together with inflation, it is the most striking indicator of the economic and social situation of a state. Unemployment protection system plays a primary social and individual problem that has many implications not only for the economic and social development, but also for the existence of individuals and their families. One can perceive the essential significance of employment for every individual and for some community by taking into consideration the general definition of employment such as indicators of economic, cultural and social prosperity of the community, a source of existence of the broadest circle of population, stabilisation of the socio- economic status of an individual and the community and unemployment such as a synonym of poverty, social marginalisation, unnecessary and irreversible waste of human resources. In the first part of the paper, we have considered the unemployment insurance system itself and labour market in Montenegro, and then we have briefly perceived the unemployment situation in the countries of the former Yugoslavia.
Key words   unemployment, social insurance, unemployment compensation, social right, former Yugoslavia






Vladimir NJEGOMIR, Ph.D., Rajko TEPAVAC, Ph.D., Milan Počuča, Ph.D.
GLOBAL INSURANCE AND REINSURANCE INDUSTRY CAPACITY:
THE EFFECTS OF CATASTROPHE LOSSES


ABSTRACT   Capital as the difference between assets and liabilities of insurance companies enables protection against negative deviations of actual damages, costs or investment results from the planned values and it is the capacity, that is the key limiting factor for the supply of insurance services on a local as well as global level. Catastrophe losses represent special issue in the management of insurance and reinsurance companies because of their remarkable impact on available capital and capacity limitation. With the more frequent manifestation of catastrophic losses that have more intense effects the problem of limited insurability of risks and the insufficiency of not only individual companis but of the aggregate capacity of the global insurance and reinsurance industry is intensified. The main conclusion of the conducted research is that insurance and reinsurance in contemporary conditions are no longer sufficient to cover the consequences of catastrophic losses because of the limited capacity for risk acceptance. There is a need to use alternative solutions, which include mechanisms of risk control and mechanisms of risk financing that encompass risk transfer to investors in global capital markets and government intervention, that is the use of public funds and various forms of public-private partnerships, including the participation of international institutions.
Key words   capital, capacity, insurance, catastrophe losses, reinsurance, alternatives, capital market, state