The paper deals with the essential of economic insurance within the whole economy procedure in the water management companies. As it is well known, the fundament of insurance is risk itself. The risk, by its appearance, power and intensity, has its impacts on processes, objects and activities in the water management. That is why is very important to know and apply knowledge, awareness and comprehension about risk management in the field of water management. Any sort of risks must be analyzed, planned, controlled, organized, prevented, repressed, averted and fixed in order to decrease detriments and disadvantages. The best way to preclude all predicted and unpredicted tribulations and costs is to go all-out for the rules of covenanted and unsolicited types of insurance. The paper also gives a brand - new approach to bypassing risks within management by the system of covenanted and unsolicited insurances.

The Water Book maintenance is obligated. The electronic form of Water Book and following documents provides an insight into data from issued water acts, in a simple, systematic and arranged way, which enables easy and fast search, according to assigned key, of data extraction and report printing. Program package is provided by Republic Directorate for Water. The implementation of Water Book program is realised in the Ministry of Agriculture, Forestry and Water Management of the Republic of Serbia - Republic Directorate for Water. Public water enterprises and communities that have technical capacities for program installation.

Influence of eutrophication to the phytoplankton community were studied in the inner part of Boka Kotorska Bay (Kotor Bay and Risan Bay) from September 2003 to August 2004. Kotor Bay and Risan Bay is very interesting area because the influence of natural and anthropogenic eutrophication are mixed very often. Microphytoplankton density is high (greater than 10**6 cells/cubic dm) what is characteristic eutrophic area, to the highest eutrophic area (greater than 10**7 cells/cubic dm). These values we stated in the surface, because in this layer were the best conditions. In same time we stated very high values: SiO2, oxygen saturation and chlorophyll a. The conclusion is: Boka Kotorska Bay and especially Kotor Bay (as a part of Boka Kotorska) has to be protected of dangerous consequences such as blooming. It is needed to regulate wastewater, their purification and permanent control physico-chemical and biological parameters, and especially phytoplankton component.

Scarce natural resources which are important for development of society or civilization itself are the issue of research for economists from the point of view of their efficient utilization. Theory of natural monopoly asserts that for society is better to treat scarce resources as monopoly than to put them on free market. The assertion is that it is better to invest in development of other markets than into free competition in sphere of some scarce resources. Main aim of this paper is to overview some elements of theory of natural monopoly.

The EU Water Framework Directive imposes special requirements for transboudary groundwater bodies, and thereby emphasizes their significance. The management of a common resource calls for an integrated approach to monitoring and status assessment, as well as implementation of improvement measures. Serbia, Hungary and Romania share a water body in the Pannonian Basin, for which cooperation has already been established within the framework of the ICPDR and at the bilateral level.