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Paper Information

Journal:   ENERGY ECONOMICS REVIEW   WINTER 2012 , Volume 8 , Number 31; Page(s) 197 To 231.
 
Paper: 

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*
 
* UNIVERSITY OF ALLAMEH TABATABAEI
 
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.

 
Keyword(s): OWNERSHIP CONCENTRATION, OIL & GAS INDUSTRY, CAPTIVE INSURANCE
 
 
References: 
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Click to Cite.
APA: Copy

GHAZI ZADEH, M., & HEYDARI, K. (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. https://www.sid.ir/en/journal/ViewPaper.aspx?id=271442



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. 2012 [cited 2021May08];8(31):197-231. Available from: https://www.sid.ir/en/journal/ViewPaper.aspx?id=271442



IEEE: Copy

GHAZI ZADEH, M., HEYDARI, K., 2012. OWNERSHIP CONCENTRATION AND ITS EFFECT ON INSURANCE COVERAGES, THE CASE OF IRAN'S OIL AND GAS INDUSTRY. ENERGY ECONOMICS REVIEW, [online] 8(31), pp.197-231. Available: https://www.sid.ir/en/journal/ViewPaper.aspx?id=271442.



 
 
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