DRUŠTVA ZA OSIGURANJE I ODRŽIVI RAZVOJ U USLOVIMA ZELENE TRANZICIJE
INSURANCE COMPANIES AND SUSTAINABLE DEVELOPMENT IN THE CONDITIONS OF GREEN TRANSITION

Author(s): Željko Šain, Jasmina Selimović, Edin Taso
Subject(s): Economy, Energy and Environmental Studies
Published by: Finrar d.o.o Banja Luka
Keywords: green transition; sustainable development; risks; insurance;
Summary/Abstract: Modern living and working conditions on the planet Earth imperatively require a green transition. There are numerous risks, almost endless, related to sustainable development in the conditions of green transition. It cannot be achieved without the institutionalized modern comprehensive insurance industry as its integral part. Insurance companies, as providers of insurance products, on the one hand, and insurance beneficiaries, natural and legal persons, as insurance claimants, on the other hand, have this special role. For the sufficiency and effectiveness of these supply and demand relations, in the given conditions of the green transition, there is a scientific basis, insufficient political commitment and legislation. Professional and practical achievements are at an even lower level. Can sustainable development in the conditions of a green economy be successfully realized then? Especially from the point of view of the situation in Bosnia and Herzegovina, in both its entities? The following text provides some form of overview of the green transition, sustainable development and place of insurance (insurance industry) in this process. An attempt is made to adequately point out the theoretical and practical aspect of the observed topic. The current situation in this complex process is not good! It is imperative to seek and achieve a rational solution throughout the world, including Bosnia and Herzegovina.

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