The Role of Environmental Insurance in "Green" Post-War Rebuilding of Ukrainian Regions

Abstract

Environmental insurance is top priority in a given scope of issues because it represents effective mechanism of risk regulation, formulating legal guarantees and providing significant instrument for implementing environmental-economic processes. Existing rudimentary mechanisms of environmental insurance in Ukraine are limited in nature and unable to fulfil the tasks set, notably under burdens of determinism and increased risks of war and post-war periods. The authors have set a study goal to evaluate preconditions of environmental insurance in post-war Ukraine and to define main priorities, primary tasking algorithms and specifics of environmental risk insurance in circular economy. The researchers applied empirical methods for study of scientific materials and regulatory documents and conducted their description and comparison. The authors analysed major approaches to implementation of mandatory environmental insurance strategy in Ukraine and gave broad definition of its structural elements and priority principles. They conducted analysis of regulatory and legal base, explored opportunities of engaging "green" insurance providers to national environmental insurance system. There has been a suggestion of variability in environmental insurance approaches with possibility to differentiate by risks, fields of economy and by regional distribution. The researchers have undertaken a forecast of effective implementation for economy, environmental protection and social area. They concluded about the need of preventive changes in economic and legal field and maximum implementation of international experience in national environmental insurance system with account of specific influence of certain factors, notable for post-war period in Ukraine.