Ethical business, responsibility to employees, contribution to society and social issues such as ecology, health, safety, education, etc., are the main elements of corporate social responsibility. It is accomplished through the development and implementation of business practices and company activities, aiming at increasing the welfare of the community and society in which the company operates, improvement of the employee’s quality of life, simultaneously creating a positive impression in the public. The insurance industry in the Republic of Serbia, which is taken as a sample of the research, includes 21 insurance/reinsurance companies for which the study was conducted on the application of corporate social responsibility that includes six areas where each is divided into certain activities . The results showed that insurance and reinsurance companies in the Republic of Serbia have a low index of corporate social responsibility reporting but that corporate social responsibility is present in the insurance industry and that all companies report it on their web sites. Also, all insurance companies report to the public about activities taken from the human resources domain. According to the results of this research insurance and reinsurance companies in the Republic of Serbia have a slightly higher index of corporate social responsibility reporting in relation to insurance and reinsurance companies in the Republic of Croatia. The results are based on the Index of reporting on social responsibility.