OWNERSHIP CONCENTRATION AND ITS EFFECT ON INSURANCE COVERAGES, THE CASE OF IRAN'S OIL AND GAS INDUSTRY

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GHAZI ZADEH M.S.; HEYDARI KIOUMARS

مرکز اطلاعات علمی Scientific Information Database (SID) - Trusted Source for Research and Academic Resources

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Journal: ENERGY ECONOMICS REVIEW Year:2012 | Volume:8 | Issue:31 Page(s): 197-231

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Title

OWNERSHIP CONCENTRATION AND ITS EFFECT ON INSURANCE COVERAGES, THE CASE OF IRAN'S OIL AND GAS INDUSTRY

Author(s)

GHAZI ZADEH M.S. | HEYDARI KIOUMARS | Issue Writer Certificate

Keywords

OWNERSHIP CONCENTRATIONQ2

OIL & GAS INDUSTRYQ2

CAPTIVE INSURANCEQ2

Abstract

The share of oil and gas insurance coverage compared to its value added (3% and 27% of insurance revenue and gross national product respectively) is very low.Some argue that this fact can be explained by the poor insurance culture of oil and gas managers. In this paper, based on a theoretical model, we assess the relationship between concentration of ownership in the oil and gas sector and insurance cover in the sector. This may explain the low insurance cover in the oil sector despite the low cost of such coverage. The analysis shows that whle the oil and gas industry is heavily concentrated in Government hands, the insurance industry has the characteristics of a competitive activity. We notice that concentration of ownership in any sector has a negative impact on insurance coverage. This implies that privatization and resultant reduced concentration of ownership in the oil and gas sector can have the greatest impact on insurance coverage of the sector. In addition, in subsectors that are likely to remain in the public sector, self-insurance and creating an insurance fund is the most feasible option for providing insurance cover to the concerned activities.

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APA: Copy

GHAZI ZADEH, M.S., & HEYDARI, KIOUMARS. (2012). OWNERSHIP CONCENTRATION AND ITS EFFECT ON INSURANCE COVERAGES, THE CASE OF IRAN'S OIL AND GAS INDUSTRY. ENERGY ECONOMICS REVIEW, 8(31), 197-231. SID. https://sid.ir/paper/99486/en

Vancouver: Copy

GHAZI ZADEH M.S., HEYDARI KIOUMARS. OWNERSHIP CONCENTRATION AND ITS EFFECT ON INSURANCE COVERAGES, THE CASE OF IRAN'S OIL AND GAS INDUSTRY. ENERGY ECONOMICS REVIEW[Internet]. 2012;8(31):197-231. Available from: https://sid.ir/paper/99486/en

IEEE: Copy

M.S. GHAZI ZADEH, and KIOUMARS HEYDARI, “OWNERSHIP CONCENTRATION AND ITS EFFECT ON INSURANCE COVERAGES, THE CASE OF IRAN'S OIL AND GAS INDUSTRY,” ENERGY ECONOMICS REVIEW, vol. 8, no. 31, pp. 197–231, 2012, [Online]. Available: https://sid.ir/paper/99486/en

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