Insurance of project risks in the port

Authors

DOI:

https://doi.org/10.15587/2312-8372.2014.23372

Keywords:

insurance, insurance programs for investment projects, project risks, seaport

Abstract

One of the methods of protection against the negative consequences of failure to execute the project is to use insurance mechanisms. In the case of a positive decision on using insurance in the investment risk management, it is important to develop investment project insurance technology. For this, overall economic analysis of the investment project, description of the results of identifying and assessing investment risks, selection of necessary types of insurance and modeling of risk management mechanism through insurance are performed.

Under these conditions, objective functions of policyholders (executors) for the maximum profit taking into account insurance are formulated. Insurance terms are defined by the following provisions:

1. Insurance system should not encourage the executor to "promote" the insured event.

2. Insurance should make sense for the executor.

3. The values of the objective functions of executors should be nonnegative.

4. Insurance should make sense for the insurer.

For these conditions, the mechanism of mutual insurance of project risks in the port, providing the decrease in the payload on policyholders was developed.

The obtained research results are aimed at reducing the risk of adverse and emergency situations, i.e. external and internal economic mechanisms, directed to reducing the risk level, as well as reducing the negative consequences of adverse events.

Author Biographies

Геннадий Сергеевич Махуренко, Odessa national marine university, Mechnikova, 34, Odessa, 65029

Doctor of Economic Sciences, Professor

Department of Economic theory and cybernetics

Ирина Владиславовна Савельева, Odessa national marine university, Mechnikova, 34, Odessa, 65029

Doctor of Economic Sciences, Associate Professor  

Department of Marine transportations

Диана Павловна Боу-Торган, Odessa national marine university, Mechnikova, 34, Odessa, 65029

Assistant

Department of Economic theory and cybernetics

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Published

2014-03-18

How to Cite

Махуренко, Г. С., Савельева, И. В., & Боу-Торган, Д. П. (2014). Insurance of project risks in the port. Technology Audit and Production Reserves, 2(2(16), 8–12. https://doi.org/10.15587/2312-8372.2014.23372

Issue

Vol. 2 No. 2(16) (2014): Economy of enterprise

Section

Economy of enterprise

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Copyright (c) 2016 Геннадий Сергеевич Махуренко, Ирина Владиславовна Савельева, Диана Павловна Боу-Торган

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