Search results for query: Obora

  1. Accounting Geared Towards Corporate Social Responsibility: Analysis of the Polish Insurance Sector

    Author: Patryk Obora

    See Issue Contents: fins.2022.2


    The aim of the study is to present the way in which non-financial information associated with Corporate Social Responsibility (CSR) is reported in the Polish insurance sector. Moreover, the point is to check the engagement of the Polish insurance companies in non-financial reporting and to determine in which areas they are socially responsible. Research carried out in the paper involves the entire set of insurance and reinsurance companies in Poland (as of 15.03.2022) excluding those which do not share the information about their socially responsible activity. Non-financial reporting is facing many problems which derive from the lack of uniform standards and regulations. Consequently, discrepancies generated in CSR managerial practices in Poland have become an issue raised not only by society but also on the legal basis. The research conducted in the paper was both carried out by compiling the existing data on the official websites of insurance companies and by elaborating a case study of Ergo Hestia’ social report. A role model of transparent CSR reporting is the social report of Ergo Hestia Group from 2020, which was prepared in accordance with GRI (Global Reporting Initiative) standards, UN "2030 Agenda for Sustainable Development " goals and the principles of "Good Practice". The study shows that the insurance market is insufficiently involved in sustainable development issues and focuses primarily on building a good reputation. The social commitment of companies overwhelms other areas of CSR, which makes the comparison process difficult to realize. Moreover, the analysis proves that social and environmental involvement of the insurance companies depend on the need of fulfilling the needs of stakeholders.

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