Perception of environmental insurance risk vs. implementation of control measures in organizations managed according to ISO 14001:2015 in Poland

Abstract

The numerous studies of risk perception to date have been focused on three different areas of the subject. Firstly, researchers have aimed at the identification of risk perception determinants, secondly, they have created recommendations on how to communicate the risk to society, and finally they have analysed the relationships between risk perception measures and the means of risk control implemented in organizations. The last indicated research area is complemented by the following paper. On the basis of data derived from online interviews it was concluded that the higher the assessment of the measures of environmental insurance risk perception, the more frequently organizations implemented selected means of risk control in the environmental management system according to ISO 14001 (EMS ISO 14001). The largest number of statistically significant dependencies were observed in the area of variables which describe the informative potential of EMS ISO 14001 (informative potential variables) and those which directly determine the volume of environmental insurance risk (the volume of risk variables). Simultaneously, not all categories of risk perception measures are equally related to the frequency of risk control means implementation. A particularly large number of statistically significant correlations were identified for the following variable: the evaluation of the likelihood of the occurrence of environmental damage.

Environmental insurance and ISO 14001 Environmental Management Systems – analysis of the willingness to implement systemic solutions relevant to insurance

“…Heuristics and cognitive biases, which are derived from the attributes of the risk subject, are indicated in numerous DOI: 10.34659/eis.2022.81.2.452 studies as a determinant of risk perception and risk control decisions (e.g. Slovic, Fischhoff & Lichtenstein, 1980;Janmaimool & Watanabe, 2014;Kaczała, 2019;Lemkowska, 2021) (Figure 1). Behavioural economics helps explain anomalies which have remained beyond neo-classicists analysis (Solek, 2010) and have defied the mathematical tools which are unsuitable for a description of the full array of decision-makers' behaviours (Beed, & Kane, 1991).…”