The article analyzes theoretical approaches to the definition of the category of public-private partnership. The definition of public-private partnership is formulated taking into account the unique features of agricultural insurance in Russia. The historical way of formation and development of public-private partnership in the legislation of Russia is investigated: from the Petrine era to our time with the purpose of using time-based legal reception in the newest legislation of the Russian Federation, which regulates legal relations in the field of agricultural insurance. The authors studied the design of the current Russian legislation in the field of agricultural insurance, implemented with state support from the standpoint of public-private partnership, and analyzed the legal forms of this partnership used in US agricultural insurance (Du, Hennessy, Feng, 2014). It is concluded that there is a need to expand the interaction of government and business in Russia with a view to stabilizing the situation of the agrarians, at least, and the development of the entire agricultural sector of our country - as a maximum. Taking into account the temporal analysis of the Russian legislation in the sphere under consideration, as well as the experience of implementing a public-private partnership in the national legal system of the United States in the field of agricultural insurance, the authors examined several options for legal forms of introducing PPP in agricultural insurance of the Russian Federation. Firstly, the functioning of the legal model of PPP in the form of an insurance agrarian corporation with mixed capital of public funds and private insurer funds. Secondly, the creation of a state agrarian insurance company with 100% state capital. And, finally, thirdly, education in the field of agricultural insurance of mutual insurance societies. The conclusion is drawn that the model of mutual insurance societies is the most optimal variant of interaction between the government and business in the field of agricultural insurance, carried out with state support. © 2018.