Reflections on Recent Problems in the Insurance Sector from a Belgian Supervisory Perspective
AbstractThis paper sheds light on the financial turmoil in the insurance sector from a Belgian supervisory perspective.3 An assessment is made of the main difficulties encountered by insurers and their supervisors during the development and acceleration of the financial crisis. Particular attention is paid to the shortcomings in the present regulatory framework and a number of recommendations are proposed in this regard. The paper concludes that increased macro- economic consideration, structured cross-border cooperation and efficient crisis management arrangements have become essential elements enabling financial supervisors to tackle the challenge of financial globalization.
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Bibliographic InfoArticle provided by Katholieke Universiteit Leuven, Faculteit Economie en Bedrijfswetenschappen in its journal Review of Business and Economics.
Volume (Year): LIV (2009)
Issue (Month): 4 ()
financial crisis; insurance regulation; supervisory challenges; risk management;
Find related papers by JEL classification:
- G01 - Financial Economics - - General - - - Financial Crises
- G22 - Financial Economics - - Financial Institutions and Services - - - Insurance; Insurance Companies; Actuarial Studies
- G28 - Financial Economics - - Financial Institutions and Services - - - Government Policy and Regulation
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