Issues of Environmental Impairment Liability Insurance in the Russian Oil and Gas Industry
The author studies environmental insurance in nature management as a lever of management measures to prevent and eliminate environmental pollution by oil products during their transportation and oil fields development. The research aims to develop recommendations for environmental risks insurance in Russian oil and gas industry on the basis of economic and mathematical model that allows to estimate the scale of environmental pollution by oil products. Such methods as system and comparative analysis, expert assessments, forecasting, modeling used in this work helped the author to identify Russian environmental insurance features; to propose a method for solving the problem concerning the lack of statistical data on the frequency and scale of accidents and the environmental damage magnitude by mathematical modeling of the accident, which allows to estimate the radius and depth of the underlying surface pollution. These developments will help insurers to make more adequate insurance premiums and tariffs, as well as to improve the underwriting procedure for unique oil and gas projects. But in order for the obtained achievements to find their application, it is necessary to have legislation obliging oil companies to compensate for environmental damage, and due to the scale of such damage, oil companies will be obliged to insure the relevant risks.