Document Type : Research Paper
Authors
1 Allameh Tabatabaei, Tehran
2 Associate Professor of Private Law, Faculty of Law and Politics. AllamehTabatabai University
3 Insurance Group, Insurance Faculty, Allameh Tabatabaei Univeersity, Tehran, Iran
Abstract
One of the innovations that has been formed in the insurance industry in recent years is transfer the risk to the capital markets. Today, this possibility is provided by issuing insurance bonds and Catastrophe bonds, which are a most important type of insurance-linked securities, can redress inefficiency in the insurance industry. On the other hand, traditional insurance solutions to cover the risks of Iran's oil and gas industry is not efficient and sufficient and using CAT bonds to transfer risks of this industry to capital markets is a necessary and inevitable issue. The aim of this research is to identify effective factors for issuing Catastrophe bonds in Iran's oil and gas industry. On this basis and after reviewing the literature through library studies, 33 factors were identified in the form of seven categories, based on the similarities. Then, based on Delphi method, experts were asked to express their opinions through an iterative questionnaire. After take the experts' opinions in every round, the statistics analysis was performed and the Delphi process was stopped in the third round. Based on the results, the number of thirty-two factors in six categories recognized. Also, by using the method of analytical hierarchy process and reusing the opinions of experts, the criteria and sub-criteria were prioritized and in order of preference with the titles Legislation and Amendment of the Rules, Process Management, Transparency, Knowledge Management, Creation and Strengthening of Software Platforms and Cultivation.
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