This article examines the peculiarities of the export risk insurance system functioning in the Republic of Uzbekistan in conditions of intensified foreign economic activity and global instability. An analysis of the legal framework, institutional infrastructure, and risk assessment practices, covering both commercial and political threats, is carried out. Based on a comparative analysis with international practice, key issues were identified: limited insurance products, weak digitalization, low awareness by foreign economic activity entities, and limited competition in the insurance services market. Proposals are formulated for improving tariff policy, implementing digital solutions, and developing state support mechanisms. The results of the study can be used in the development of strategic and normative documents aimed at increasing the sustainability and competitiveness of Uzbekistan's export sector.