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.
Highlights
Energy is an integral part of the functioning of any economy in the world [1]
Renewable energy projects are developing at the macro and micro levels, and almost all large companies have structural divisions and projects
Insurance programs are already widely used by corporate insurers, including in the energy sector
Summary
Energy is an integral part of the functioning of any economy in the world [1]. This is the basis for economic development from stimulating economic growth [2,3] to consumption levels [4] and innovation [5]. Changing energy sources fully meets the principles of sustainable development, when a compromise between the environment, the development of the economy and society is important [6]. A more common definition has been defined in the World Commission on Environment and Development’s 1987 Brundtland report “Our Common Future” as “development that meets the needs of the present without compromising the ability of future generations to meet their own needs” [9]. Energy security plays an important role in the process of sustainable development, a state in which all (or most) residents and enterprises in the state have access to sufficient energy resources at affordable prices, which for the foreseeable future are free from the risk of serious supply disruptions [10]. Energy security satisfies basic human needs, but how this is achieved determines whether sustainability principles are being satisfied
Sign-in/Register to view highlights & summary Sign-in/Register to access full text options 
Talk to us
Join us for a 30 min session where you can share your feedback and ask us any queries you have
Schedule a callDisclaimer: All third-party content on this website/platform is and will remain the property of their respective owners and is provided on "as is" basis without any warranties, express or implied. Use of third-party content does not indicate any affiliation, sponsorship with or endorsement by them. Any references to third-party content is to identify the corresponding services and shall be considered fair use under The CopyrightLaw.
