IDEAS home Printed from https://ideas.repec.org/a/gam/jeners/v14y2021i20p6802-d659159.html
   My bibliography  Save this article

Insurance Programs in the Renewable Energy Sources Projects

Author

Listed:
  • Nadezda Kirillova

    (Insurance and Social Economics Department of the Financial Faculty, Financial University under the Government of the Russian Federation, 121000 Moscow, Russia)

  • Ryszard Pukala

    (Institute of Economics and Management, Bronislaw Markiewicz State University of Technology and Economics, 37500 Jaroslaw, Poland)

  • Marietta Janowicz-Lomott

    (Risk and Insurance Department, SGH Warsaw School of Economics, 02554 Warsaw, Poland)

Abstract

The development of projects using renewable energy sources (RES) necessitates the development of insurance programs and systems. This involves identifying and assessing the risks of renewable energy projects in the transition to new types of energy, determining typical corporate and specific risks, the need and content of the main types, forms of insurance contracts, assessing the financial condition, and choosing insurance organizations and reinsurance programs. This article focuses on the formation of such insurance programs, their interaction with industrial safety systems and ensuring corporate participation in achieving sustainable development goals; as well as selection and assessment of the insurer financial stability and the insurance RES programs economic efficiency.

Suggested Citation

  • Nadezda Kirillova & Ryszard Pukala & Marietta Janowicz-Lomott, 2021. "Insurance Programs in the Renewable Energy Sources Projects," Energies, MDPI, vol. 14(20), pages 1-12, October.
    • Handle: RePEc:gam:jeners:v:14:y:2021:i:20:p:6802-:d:659159
    as

    Download full text from publisher

    File URL: https://www.mdpi.com/1996-1073/14/20/6802/pdf
    Download Restriction: no
    File URL: https://www.mdpi.com/1996-1073/14/20/6802/
    Download Restriction: no
    ---><---

    References listed on IDEAS

    as
    1. Joseph E. Stiglitz, 1974. "Growth with Exhaustible Natural Resources: The Competitive Economy," The Review of Economic Studies, Review of Economic Studies Ltd, vol. 41(5), pages 139-152.
    2. Cleveland, Cutler J. & Kaufmann, Robert K. & Stern, David I., 2000. "Aggregation and the role of energy in the economy," Ecological Economics, Elsevier, vol. 32(2), pages 301-317, February.
    3. Stern, David I., 2010. "Modeling International Trends in Energy Efficiency and Carbon Emissions," Research Reports 94950, Australian National University, Environmental Economics Research Hub.
    4. Ryszard Pukala & Nadezda Kirillova & Alexey Dorozhkin, 2021. "Insurance Instruments in Estimating the Cost Energy Assets with Renewable Energy Sources," Energies, MDPI, vol. 14(12), pages 1-17, June.
    5. Roman Vavrek, 2019. "Evaluation of the Impact of Selected Weighting Methods on the Results of the TOPSIS Technique," International Journal of Information Technology & Decision Making (IJITDM), World Scientific Publishing Co. Pte. Ltd., vol. 18(06), pages 1821-1843, November.
    6. Khayrolla Mussapirov & Jeksen Jalkibaeyev & Gulnara Kurenkeyeva & Aizhan Kadirbergenova & Mariana Petrova & Lyailya Zhakypbek, 2019. "Business scaling through outsourcing and networking: selected case studies," Entrepreneurship and Sustainability Issues, VsI Entrepreneurship and Sustainability Center, vol. 7(2), pages 1480-1495, December.
    7. Joseph Stiglitz, 1974. "Growth with Exhaustible Natural Resources: Efficient and Optimal Growth Paths," The Review of Economic Studies, Review of Economic Studies Ltd, vol. 41(5), pages 123-137.
    8. Froot, Kenneth A & Scharfstein, David S & Stein, Jeremy C, 1993. "Risk Management: Coordinating Corporate Investment and Financing Policies," Journal of Finance, American Finance Association, vol. 48(5), pages 1629-1658, December.
    9. Bretschger, Lucas, 2005. "Economics of technological change and the natural environment: How effective are innovations as a remedy for resource scarcity?," Ecological Economics, Elsevier, vol. 54(2-3), pages 148-163, August.
    10. Tomas Plėta & Manuela Tvaronavičienė & Silvia Della Casa & Konstantin Agafonov, 2020. "Cyber-attacks to critical energy infrastructure and management issues: overview of selected cases," Post-Print hal-03271856, HAL.
    11. Nadezda Kirillova, 2014. "Regulation of financial condition insurers in the Russian Federation and assessment the insurers by insured," Copernican Journal of Finance & Accounting, Uniwersytet Mikolaja Kopernika, vol. 3(2), pages 79-89.
    12. Tomas PlÄ—ta & Manuela TvaronaviÄ ienÄ— & Manuela TvaronaviÄ ienÄ— & Silvia Della Casa & Silvia Della Casa & Konstantin Agafonov, 2020. "Cyber-attacks to critical energy infrastructure and management issues: overview of selected cases," Insights into Regional Development, VsI Entrepreneurship and Sustainability Center, vol. 2(3), pages 703-715, September.
    13. Costantini, Valeria & Martini, Chiara, 2010. "The causality between energy consumption and economic growth: A multi-sectoral analysis using non-stationary cointegrated panel data," Energy Economics, Elsevier, vol. 32(3), pages 591-603, May.
    14. Alexander A. Tsyganov & Nadezhda V. Kirillova & Valery V. Kurganov, 2016. "Insurance Mechanisms of Financial Support in the Field of Energy Conservation Activities," Finansovyj žhurnal — Financial Journal, Financial Research Institute, Moscow 125375, Russia, issue 2, pages 100-110, April.
    15. Soimakallio, Sampo & Saikku, Laura, 2012. "CO2 emissions attributed to annual average electricity consumption in OECD (the Organisation for Economic Co-operation and Development) countries," Energy, Elsevier, vol. 38(1), pages 13-20.
    16. Roman Vavrek & Jana Chovancová, 2020. "Energy Performance of the European Union Countries in Terms of Reaching the European Energy Union Objectives," Energies, MDPI, vol. 13(20), pages 1-16, October.
    17. Mayers, David & Smith, Clifford W, Jr, 1982. "On the Corporate Demand for Insurance," The Journal of Business, University of Chicago Press, vol. 55(2), pages 281-296, April.
    Full references (including those not matched with items on IDEAS)

    Most related items

    These are the items that most often cite the same works as this one and are cited by the same works as this one.
    1. Ryszard Pukala & Nadezda Kirillova & Alexey Dorozhkin, 2021. "Insurance Instruments in Estimating the Cost Energy Assets with Renewable Energy Sources," Energies, MDPI, vol. 14(12), pages 1-17, June.
    2. David I. Stern, 2010. "The Role of Energy in Economic Growth," CCEP Working Papers 0310, Centre for Climate & Energy Policy, Crawford School of Public Policy, The Australian National University.
    3. Maciej Malaczewski, 2018. "Natural Resources As An Energy Source In A Simple Economic Growth Model," Bulletin of Economic Research, Wiley Blackwell, vol. 70(4), pages 362-380, October.
    4. Burda, Michael C. & Zessner-Spitzenberg, Leopold, 2024. "Greenhouse Gas Mitigation and Price-Driven Growth in a Solow-Swan Economy with an Environmental Limit," IZA Discussion Papers 16771, Institute of Labor Economics (IZA).
    5. Obsatar Sinaga & Mohd Haizam Mohd Saudi & Djoko Roespinoedji & Mohd Shahril Ahmad Razimi, 2019. "The Dynamic Relationship between Natural Gas and Economic Growth: Evidence from Indonesia," International Journal of Energy Economics and Policy, Econjournals, vol. 9(3), pages 388-394.
    6. Wei Wang & Kehui Wei & Oleksandr Kubatko & Vladyslav Piven & Yulija Chortok & Oleksandr Derykolenko, 2023. "Economic Growth and Sustainable Transition: Investigating Classical and Novel Factors in Developed Countries," Sustainability, MDPI, vol. 15(16), pages 1-15, August.
    7. B. Charumathi & Hima Bindu Kota, 2012. "On the Determinants of Derivative Usage by Large Indian Non-financial Firms," Global Business Review, International Management Institute, vol. 13(2), pages 251-267, June.
    8. Franco, Marco P.V. & Gaspard, Marion & Mueller, Thomas, 2019. "Time discounting in Harold Hotelling's approach to natural resource economics: The unsolved ethical question," Ecological Economics, Elsevier, vol. 163(C), pages 52-60.
    9. Rezai, Armon & Stagl, Sigrid, 2016. "Ecological Macreconomics: Introduction and Review," Ecological Economic Papers 9, WU Vienna University of Economics and Business.
    10. Millar, Neal & McLaughlin, Eoin & Börger, Tobias, 2019. "The Circular Economy: Swings and Roundabouts?," Ecological Economics, Elsevier, vol. 158(C), pages 11-19.
    11. Sanghak Choi & Hyeonung Jang & Daejin Kim & Byoung Ki Seo, 2021. "Derivatives use and the value of cash holdings: Evidence from the U.S. oil and gas industry," Journal of Futures Markets, John Wiley & Sons, Ltd., vol. 41(3), pages 361-383, March.
    12. Park, Min, 2018. "What drives corporate insurance demand? Evidence from directors' and officers' liability insurance in Korea," Journal of Corporate Finance, Elsevier, vol. 51(C), pages 235-257.
    13. Lai Fong Woon & Noor Azlinna Azizan & M. Fazilah Abdul Samad, 2011. "A Strategic Framework For Value Enhancing Enterprise Risk Management," Journal of Global Business and Economics, Global Research Agency, vol. 2(1), pages 23-47, January.
    14. Monda, Barbara & Giorgino, Marco & Modolin, Ileana, 2013. "Rationales for Corporate Risk Management - A Critical Literature Review," MPRA Paper 45420, University Library of Munich, Germany.
    15. Froot, Kenneth A., 2001. "The market for catastrophe risk: a clinical examination," Journal of Financial Economics, Elsevier, vol. 60(2-3), pages 529-571, May.
    16. Koji Tokimatsu & Louis Dupuy & Nick Hanley, 2019. "Using Genuine Savings for Climate Policy Evaluation with an Integrated Assessment Model," Environmental & Resource Economics, Springer;European Association of Environmental and Resource Economists, vol. 72(1), pages 281-307, January.
    17. Hong Chen & Haoyan Wang & Yanqiu Li, 2023. "Research on Government Regulations, Cognition and Farmers’ Willingness of Straw-to-Field," Sustainability, MDPI, vol. 15(12), pages 1-13, June.
    18. Growiec, Jakub & Schumacher, Ingmar, 2008. "On technical change in the elasticities of resource inputs," Resources Policy, Elsevier, vol. 33(4), pages 210-221, December.
    19. Lin, Chen & Lin, Ping & Zou, Hong, 2012. "Does property rights protection affect corporate risk management strategy? Intra- and cross-country evidence," Journal of Corporate Finance, Elsevier, vol. 18(2), pages 311-330.
    20. Arnold, Matthias M. & Rathgeber, Andreas W. & Stöckl, Stefan, 2014. "Determinants of corporate hedging: A (statistical) meta-analysis," The Quarterly Review of Economics and Finance, Elsevier, vol. 54(4), pages 443-458.

    Corrections

    All material on this site has been provided by the respective publishers and authors. You can help correct errors and omissions. When requesting a correction, please mention this item's handle: RePEc:gam:jeners:v:14:y:2021:i:20:p:6802-:d:659159. See general information about how to correct material in RePEc.

    If you have authored this item and are not yet registered with RePEc, we encourage you to do it here. This allows to link your profile to this item. It also allows you to accept potential citations to this item that we are uncertain about.

    If CitEc recognized a bibliographic reference but did not link an item in RePEc to it, you can help with this form .

    If you know of missing items citing this one, you can help us creating those links by adding the relevant references in the same way as above, for each refering item. If you are a registered author of this item, you may also want to check the "citations" tab in your RePEc Author Service profile, as there may be some citations waiting for confirmation.

    For technical questions regarding this item, or to correct its authors, title, abstract, bibliographic or download information, contact: MDPI Indexing Manager (email available below). General contact details of provider: https://www.mdpi.com .

    Please note that corrections may take a couple of weeks to filter through the various RePEc services.

    IDEAS is a RePEc service. RePEc uses bibliographic data supplied by the respective publishers.