Insurance is a necessary condition for the normal functioning of the economy and a means of protecting the property interests of individual citizens. Insurance, being an objective category, has internal patterns. Knowledge of these patterns is a task of insurance science. The paper critically examines the existing theories of insurance business and substantiates a fundamentally new theory - the theory of insurance protection. The work is intended for teachers and students of economic and legal universities , Insurance Companies , Insurance Supervisory Authority , as well as law enforcement agencies, Courts and Courts of Arbitration , Research Fellows , Theoretical problems of insurance, Entrepreneurs and Citizens , protect or have the desire to protect their interests through insurance.