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The objective of this article is to establish the theoretical and methodological foundations and develop the applied tools for environmental insurance. The research employs a range of methodologies, including dialectical cognition, system and structural analysis, synthesis, integrated approaches, regulatory support, and others. Problem statement. The objective of this study is to elucidate the role of environmental insurance in enhancing environmental safety in the event of accidental environmental pollution. In the case of global disasters, it is challenging to discern whether they have a purely natural or anthropogenic origin. The majority of contemporary disasters are a combination of natural and anthropogenic causes, with the resulting damage being significant and difficult to quantify. In light of these considerations, it becomes evident that environmental insurance assumes a pivotal role in periods of economic turbulence. Methodology. The research is based on the generalisation of the conceptual framework of environmental insurance, the justification of the causes and consequences of the need for environmental risk insurance, and the development of industrial and agricultural production. A regression analysis was conducted on 30 agricultural enterprises, with the parameters of the regression equation determined using a matrix of initial data for correlation and regression analysis of profitability. The results of the study show that accidental environmental pollution due to accidental circumstances causes significant damage. To reduce environmental risks, it is proposed to create a system of environmental insurance, the main prerequisite of which is the principle of cross-border functioning. Results. It has been demonstrated that environmental risk insurance represents a valuable instrument for guaranteeing environmental security. It is evident that in the event of unforeseen circumstances, the potential for significant accidental environmental pollution necessitates the implementation of environmental insurance to ensure the attainment of environmental safety standards for all participants. Practical implication. The findings of the study, including its recommendations, are of practical interest and may be recommended for implementation in the practice of insuring agricultural enterprises against environmental risks. Value / Оriginality. The fundamental premise of environmental insurance for agricultural enterprises is to enhance the existing framework and substantiate the operational mechanism for environmental insurance coverage of their land resources. The potential applications of environmental risk insurance in the context of industrial and agricultural production are explored. In order to assess environmental risks, it is proposed that the most serious threats should first be identified and ranked, and then the environmental risk should be assessed, taking into account factors such as economic damage and mortality. It is demonstrated that in order to effectively evaluate the feasibility of a regional environmental insurance system, it is essential to develop an organisational and economic framework for implementing such a system in the region.

The article discusses issues related to the implementation of environmental insurance. Its purpose is to consider a number of problems, the solution of which can contribute to increasing its role in the compensation of losses caused by environmental pollution. To this end, it is proposed to expand the circle of legal entities obliged to provide financial guarantees of compensation for such losses and to use environmental insurance as one of the mechanisms of such guarantees. The effectiveness of guarantees provided by concluding insurance contracts can be ensured by regulating its conditions in a separate regulatory act. In turn, the preparation of the latter requires consideration of some aspects related to the mechanism of conducting environmental insurance. The article, in particular, characterizes the types of environmental pollution and, on this basis, draws conclusions about the possibility, expediency and specificity of insurance in relation to each of them. The insured event in environmental insurance contracts, according to the author, should be the consequences of accidental, sudden and unintentional pollution, i.e., those caused by an accident, disaster or other emergency events of man-made or natural nature. Another problem considered in the article is related to the range of losses that should be included in the scope of insurers’ liability under the insurance contracts concluded in order to provide financial guarantees of compensation for damage caused by environmental pollution. According to the author it should include losses caused by the insured to other legal entities and individuals in the form of damage to natural objects and associated with the implementation of measures aimed at reducing the damage caused by the insured event. A significant place in the article is given to the peculiarities of assessment of damage to be compensated by insurance companies. First of all, it concerns how to calculate the losses caused by damage directly to the natural environment. The results obtained in this part of the article include, in particular, the conclusion that when choosing a method of assessment of such damage one should mainly take into account the amount of costs for environmental restoration.

The article presents a critical analysis of the tools to ensure the greening of economic activity of Russian companies. The effective scheme of interaction between state and industrial entities in the environmental-oriented production has been approved. Described in detail each of the tools to ensure and promote the process of ecological and economic activity of enterprises. The conclusion about the possibility of effective implementation of environmental-oriented management in Russia.

The paper implements an institutional and functional approach to determining the place and role of insurance in shaping a “green” economy. The ways of integrating it as a constituent element of the financial system have been considered. The views of scientists involved in various aspects of modelling the “green” economy on the functional utility of insurance have been summarised. The use of the term “green insurance” and the meanings it implies have been analysed. The author has concluded that the relevant concept of “green insurance” is not yet so unambiguous that it can be used as a scientific concept. Another important conclusion that has been brought up for discussion is that the potential of insurance as a risk management tool within the green economy strategy is not to be confined to environmental insurance, but should be considered in expanding its scope of application to include both the fuller coverage of risk carriers and the range of potential hazards.

The purpose of the research is to assess usefulness of the implemented and certified management systems for preparation and provision of insurance. Data was collected by means of non‑real‑time, time‑extended, text‑based online focus groups, obtained via Bulletin Board platform. Respondents were selected according to judgmental sampling, and were insurance sector experts. The template analyses of the interview transcript supported by a narrative approach were conducted. The research demonstrated that environmental insurance and ISO 14001 environmental management systems (EMSs) at present, remain in Poland almost entirely independent of each other. Representatives of insurance industry do not use the information about the system implementation while preparing and providing insurance cover. ISO 14001 EMSs present little credibility for insurance experts and according to the respondents, their implementation does not significantly and undoubtedly affect the level of the covered risk. Consequently, insurance buyers do not profit from insurance (lower premiums, improved insurance scope) resulting from the implementation of ISO 14001 systems. Industry representatives, however, use – albeit unconsciously – systemic documentation in the process of preparation and provision of insurance cover. They also examine systemic processes performed in the organisation at the stage of risk assessment. Improvement of credibility of certification process, based on profound cooperation between certification institutions and insurance industry may increase the importance of ISO 14001 EMSs for the process of preparation and provision of insurance cover.

The numerous studies of risk perception to date have been focused on three different areas of the subject. Firstly, researchers have aimed at the identification of risk perception determinants, secondly, they have created recommendations on how to communicate the risk to society, and finally they have analysed the relationships between risk perception measures and the means of risk control implemented in organizations. The last indicated research area is complemented by the following paper. On the basis of data derived from online interviews it was concluded that the higher the assessment of the measures of environmental insurance risk perception, the more frequently organizations implemented selected means of risk control in the environmental management system according to ISO 14001 (EMS ISO 14001). The largest number of statistically significant dependencies were observed in the area of variables which describe the informative potential of EMS ISO 14001 (informative potential variables) and those which directly determine the volume of environmental insurance risk (the volume of risk variables). Simultaneously, not all categories of risk perception measures are equally related to the frequency of risk control means implementation. A particularly large number of statistically significant correlations were identified for the following variable: the evaluation of the likelihood of the occurrence of environmental damage.

In recent years, the law on environmental damage compensation has been a burning issue in many countries around the world, especially in developing nations where the dilemma concerns the balance between economic development and environmental protection. The issue of liability for environmental damage can be considered from many perspectives, and the focus of this study will be civil liability compensation. Learning and studying the regulations of developed countries like the European Union plays an important role in the development and improvement of environmental laws in general and the law on environmental compensation in particular for Vietnam. In this article, the authors provide insights on some legal provisions on compensation for environmental damage based on comparison with the laws of the European Union to determine how to develop legal regulations in the field of environmental damage compensation. This creates a foundation that contributes to the introduction of solutions to improve the efficiency of the law on environmental damage compensation in Vietnam.

The numerous studies of risk perception to date have been focused on three different areas of the subject. Firstly, researchers have aimed at the identification of risk perception determinants, secondly, they have created recommendations on how to communicate the risk to society, and finally they have analysed the relationships between risk perception measures and the means of risk control implemented in organizations. The last indicated research area is complemented by the following paper. On the basis of data derived from online interviews it was concluded that the higher the assessment of the measures of environmental insurance risk perception, the more frequently organizations implemented selected means of risk control in the environmental management system according to ISO 14001 (EMS ISO 14001). The largest number of statistically significant dependencies were observed in the area of variables which describe the informative potential of EMS ISO 14001 (informative potential variables) and those which directly determine the volume of environmental insurance risk (the volume of risk variables). Simultaneously, not all categories of risk perception measures are equally related to the frequency of risk control means implementation. A particularly large number of statistically significant correlations were identified for the following variable: the evaluation of the likelihood of the occurrence of environmental damage. [ABSTRACT FROM AUTHOR]

Abstract. The state of regulatory support of the compensatory and preventive functions of environmental insurance has been studied. As a research method, a systematic approach has been chosen, which explores environmental insurance not only as a separate type of profit-seeking activity, but first of all as the component of economic and legal mechanism in the field of environmental relations, an element of the legal mechanism for providing environmental safety and a means to prevent and compensate for environmental abuses. The system of environmental funding sources financing has been analysed. It is determined that, unlike other funds for financing environmental protection measures, environmental insurance funds are used exclusively to protect the policyholders’ proprietary interests. Despite the fact that in case of an insured event occurrence a natural object may be destroyed or damaged, the obligation to use the funds received as insurance payments for environmental protection measures is not provided for in the legislation of Ukraine. It has been established that the possibility of using the insurance funds in environmental insurance for financial support of preventive measures related to the reduction of environmental insurance risk, provided for by the environmental legislation of Ukraine, contradicts the provisions of the insurance legislation of Ukraine as it pertains to insurance reserves placement. The conclusion has been drawn on the suitability of legal support of the ecological function of environmental insurance, which is to ensure the quality of the environment. In order to reflect the ecological function of environmental insurance at the regulatory level, it has been proposed: to capture in the legislation of Ukraine the obligation of the insured to use the insurance payment associated with causing harm to natural objects, to restore the wholesomeness of such objects and to eliminate the negative changes in the environment that led to the occurrence of the relevant insured event; to create a guarantee fund for financing activities related to the environmental insurance risks mitigation. Keywords: legal regulation, environmental insurance, environmental insurance functions, economic and legal mechanism in the field of environmental relations, environmental safety legal mechanism. Formulas: 0; fig.: 0; tabl.: 0; bibl.: 21.

Motivation: Compulsory insurance is one of the possible optional responses to the Environmental Liability Directive (ELD) call for development of financial instruments. The article is a contribution to the analysis of the development of financial instruments relating to environmental liability. The above has been continuously discussed in both local and European circles.Aim: There are two research purposes of this article. Firstly, to identify the attributes of the EU countries which have implemented a system of obligatory environmental insurance. Secondly, to recognise and assess the premises for introduction of a system of obligatory environmental insurance by the example of Poland.Results: Insurance obligation has been legitimised in relatively poorly developed countries of the European Union. Economic indicators (GDP, GDP per capita) in majority of the above are usually below the EU average. Also, the attributes of insurance markets (non-life insurance gross premium written, non-life insurance density and insurance penetration rates) in these countries are the evidence of a large discrepancy between them and the highly developed markets. Overall economic indicators for Poland and the attributes of the Polish insurance market put this country (in economic terms) in the group of states which have decided to introduce obligatory environmental insurance. Simultaneously, the doctrine and practitioners alike consistently criticise ‘inflation of obligatoriness’ which has been seen in the Polish regulations for decades and indicate disadvantages of such solution. Possible introduction of environmental insurance obligation, if considered in Poland, should be preceded by action taken in order to strengthen the supply side of the market. Only in this condition will it be possible for obligatory insurance — if flexible enough in its structure — to strengthen the incentives for market development on the demand side.

This article examines the use of foreign direct liability suits, including the ones currently in the Dutch court system by Nigerian plaintiffs against Shell Petroleum, to protect environmental and economic interests in oil-producing communities. The paper suggests that while these suits are a valuable tool in advancing the cause of a clean environment, they fall short in accomplishing the goal. Additional tools, such as an international insurance scheme, may need to be introduced to create a more effective framework.

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The paper looks at various approaches to developing environmental forensics in implementation of the Model Law «On Environmental Insurance» on trans-boundary territories.

Motivation: Compulsory insurance is one of the possible optional responses to the Environmental Liability Directive (ELD) call for development of financial instruments. The article is a contribution to the analysis of the development of financial instruments relating to environmental liability. The above has been continuously discussed in both local and European circles. Aim: There are two research purposes of this article. Firstly, to identify the attributes of the EU countries which have implemented a system of obligatory environmental insurance. Secondly, to recognise and assess the premises for introduction of a system of obligatory environmental insurance by the example of Poland. Results: Insurance obligation has been legitimised in relatively poorly developed countries of the European Union. Economic indicators (GDP, GDP per capita) in majority of the above are usually below the EU average. Also, the attributes of insurance markets (non-life insurance gross premium written, non-life insurance density and insurance penetration rates) in these countries are the evidence of a large discrepancy between them and the highly developed markets. Overall economic indicators for Poland and the attributes of the Polish insurance market put this country (in economic terms) in the group of states which have decided to introduce obligatory environmental insurance. Simultaneously, the doctrine and practitioners alike consistently criticise 'inflation of obligatoriness' which has been seen in the Polish regulations for decades and indicate disadvantages of such solution. Possible introduction of environmental insurance obligation, if considered in Poland, should be preceded by action taken in order to strengthen the supply side of the market. Only in this condition will it be possible for obligatory insurance -- if flexible enough in its structure -- to strengthen the incentives for market development on the demand side. [ABSTRACT FROM AUTHOR]

In the article, the development problems of environmental insurance as a risk management method for maintaining environmental safety in the region are considered. The detailed analysis of the laws of the Russian Federation in conservation activity is presented; contradictions and shortcomings arerevealed. Ways of overcoming of theexisting formalcharacter of maintaining environmental safety in the Russian regions are offered. In particular, extension of insurance covering in the current law «On compulsory insurance of the civil liability of an owner of dangerous installation on the infliction of harm as a result of accident on dangerous installation» at the expense of inclusion in number of insurance risks of risk of environmental harm. The special attention in the article is paid to insurance of public liability of owners of chemical objects as the most dangerous to the environment. The methodology of actuarial expectation is added with a risk assessment of expert services with the use of a scoring method allowing evaluating real danger to the population and the environment by the chemicals, which are especially acting in small doses. Furthermore, the added calculation methodology of insurance tariffs allows using preventive function of insurance, not so popular in Russian practices. That gives a new source of financing of nature-conservative measures in the region

The analysis of the problems of civil liability for environmental pollution in cases of emergencies. The necessity for the establishment of environmental insurance rates based on an assessment of environmental risk. Awareness of environmental issues affect the formation of legal culture.

This paper proposes an analysis of the possible means for eliminating risks due to liability for environmental damage caused by the actions of an operator whose activities potentially threaten the natural environment and may cause biodiversity damage. Risks are assessed with regard to risk in­su­ra­bi­li­ty criteria for potential damage to the natural environment. The importance of risk management is stressed in the new form known as Enterprise Risk Management. Risk management is becoming increasingly important as part of the Solvency II concept, currently in preparation by European Commission, whose first and second pillars accent risk management in financial institutions and con­sis­tent quantification of existing, hidden and potential risks.This paper focuses on an analysis of specific presumptions about the insurability of risk as concerns environmental insurance. The paper was written as part of research project MSM 6215648904, carried out by the Faculty of Business and Economics, under the name “The Czech Republic in the pro­ces­ses of integration and globalization, and the development of the agriculture and service sector in the new conditions of the integrated European market”, following the goals and methodology of the research project.

Since 2004, the basic document which has governed liability for damage to the natural environment in the European Union is the Environmental Liability Directive No. 2004/35/EC, as amended by the subsequent regulation No. 2006/21/EC. The main purpose of the legislation was to ensure that the entity responsible for the damage pays all costs for rectifying its consequences. If it concerns damage to natural environment, the operator must undertake measures for rehabilitation, replacement and regeneration of the damaged natural resources. The primary replacement, which returns the damaged natural resources to their original state, may be differentiated from complementary replacement as compensation in the case in which the primary replacement has not provided an adequate reparation, and finally compensatory replacement - compensation for the temporary loss of natural conditions. This paper aims at an analysis of the possible means for eliminating risks due to the liability for environmental damage caused by the actions of an operator whose activities potentially threaten natural environment and may cause the biodiversity damage. Risks are assessed with regard to the risk insurability criteria for potential damage to the natural environment. The importance of risk management is stressed in the sophisticated form known as the Enterprise Risk Management. Risk management is becoming increasingly important as a part of the Solvency II concept, currently in preparation, whose first and second pillars accentuate risk management in financial institutions and the consistent quantification of the obvious, hidden and potential risks.

Príspevok je venovaný problematike environmentálneho zabezpeèenia ako nového nástroja pouívaného pri realizácii environmentálne zameraných projektov. Environmentálne zabezpeèenie poskytuje komplex postupov ktoré tvoria súèas komunitných ekonomických rozvojových iniciatív. Komplexné rieenie environmentálnych problémov, medzi ktoré patria revitalizaèné a rekultivaèné práce oblastí postihnutých priemyselnou èinnosou sa v súèasnosti nezaobíde bez dôsledne pripraveného projektu s ekonomickými a environmentálnymi analýzami ich dopadu na ivotné prostredie a analýzami nákladov na jeho realizáciu, ako aj kladného vyjadrenia dotknutých strán. Environmentálne zabezpeèenie ako efektívny nástroj môe by súèasou komplexného rieenia environmentálnych problémov a jeho základnej èasti prípravnej správy.

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Mandatory insurance requirements and/or mitigation fees (royalties) for mining companies may help reduce environmental risk exposure for the federal government. Mining is examined since the Environmental Protection Agency (EPA) Toxic Release Inventory reveals that this sector produces more hazardous waste than any other industrial sector. Although uncommon, environmental expense can exceed hundreds of millions of dollars per development. Of particular concern is the potential for mines to become unfunded Superfund sites. Monte Carlo simulation of risk exposure is used to establish a plausible range of unfunded federal liabilities associated with cyanide-leach gold mining. A model is developed to assess these costs and their impact on both the federal budget and corporate profitability (i.e., industry sustainability), particularly if such costs are borne by offending firms. [Copyright &y& Elsevier]