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Overcoming Past Obstacles to Insurance in the New EU Countries

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  • George M von Furstenberg

    ([1] Department of Economics, Indiana University, Wylie Hall, Rm 105, Bloomington, IN 47405, U.S.A. [2] Executive Vice President, Allianz. The views reported are not to be attributed to Allianz.)

Abstract

The newest EU member countries in Central and Eastern Europe went through a rapid transition from state to market direction of economic and financial affairs as well as of enterprises and social arrangements, including insurance. As incentive structures, property rights, rules of competition, and the assignment of liabilities changed, so did the risks associated with private operations and investments. This essay looks at some of the unexpected risk exposures and the means of coping with rapid change in incomplete financial markets largely through the eyes of a leading participant in the process. The Geneva Papers (2005) 30, 296–311. doi:10.1057/palgrave.gpp.2510025

Suggested Citation

  • George M von Furstenberg, 2005. "Overcoming Past Obstacles to Insurance in the New EU Countries," The Geneva Papers on Risk and Insurance - Issues and Practice, Palgrave Macmillan;The Geneva Association, vol. 30(2), pages 296-311, April.
    • Handle: RePEc:pal:gpprii:v:30:y:2005:i:2:p:296-311
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