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Current issues of inspection activities in relation to insurance organizations, as well as prospects for the development of insurance organizations at the present stage

Author

Listed:
  • Sergey Ternovoy

    (Bank of Russia, Russian Federation)

Abstract

The article is devoted to topical issues of inspection activities in relation to insurance organizations, as well as prospects for the development of insurance organizations at the present stage. The reasons for initiating supervisory procedures are given, the main groups of risks inherent in the activities of insurance business entities are noted. The need to introduce alternative principles of regulation and supervision for the financial market, namely proportional regulation of insurance organizations, was noted. The article contains an assessment of the identification of the noted risks in the activities of insurance organizations at early stages, which affect on such prospects for the development of insurance organizations as the growth of the quality of asset management, the creation of a positive image, the development of voluntary types of insurance that are interesting to consumers, the development of a healthy competitive environment in the insurance market

Suggested Citation

  • Sergey Ternovoy, 2019. "Current issues of inspection activities in relation to insurance organizations, as well as prospects for the development of insurance organizations at the present stage," Russian Journal of Money and Finance, Bank of Russia, vol. 9(40), pages 221-223.
    • Handle: RePEc:bkr:journl:v:9:y:2019:i:40:p:221-223
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    More about this item

    Keywords

    Insurance business entity; financial markets; supervision; regulation; risks; optimization;
    All these keywords.

    JEL classification:

    • G0 - Financial Economics - - General
    • G2 - Financial Economics - - Financial Institutions and Services
    • G20 - Financial Economics - - Financial Institutions and Services - - - General
    • G22 - Financial Economics - - Financial Institutions and Services - - - Insurance; Insurance Companies; Actuarial Studies

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