Current Changes in the Role of the Insurance Sector
AbstractThe authors analyze changes resulting from impacts of the globalization process and the crisis on the financial markets, particularly on the conservative insurance sector, which is forced to accelerate the dynamics of structural changes. The adequacy of the current regulatory measures for the financial/banking markets, and the insurance sector in particular, is discussed, together with the consequences of implementing measures aimed at consumer protection/anti-discrimination measures, including the search for balance between higher internal stability and client safety on the one side, and efficiency of insurance for clients and effectiveness of the activity itself on the other side. Furthermore, the article addresses current internal problems of the sector. An opinion is expressed in conclusion that the insurance sector has potential to remain a stable sector, in spite of the outlined problems.
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Bibliographic InfoArticle provided by University of Finance and Administration in its journal ACTA VSFS.
Volume (Year): 7 (2013)
Issue (Month): 1 ()
financial; economic and debt crisis; financial markets; insurance sector; regulatory projects; risk based approach/risk management; new architecture of the financial market regulation; consumer protection; anti-discrimination measures;
Find related papers by JEL classification:
- A11 - General Economics and Teaching - - General Economics - - - Role of Economics; Role of Economists
- B41 - Schools of Economic Thought and Methodology - - Economic Methodology - - - Economic Methodology
- G01 - Financial Economics - - General - - - Financial Crises
- G20 - Financial Economics - - Financial Institutions and Services - - - General
- G21 - Financial Economics - - Financial Institutions and Services - - - Banks; Other Depository Institutions; Micro Finance Institutions; Mortgages
- G22 - Financial Economics - - Financial Institutions and Services - - - Insurance; Insurance Companies; Actuarial Studies
- G28 - Financial Economics - - Financial Institutions and Services - - - Government Policy and Regulation
- G29 - Financial Economics - - Financial Institutions and Services - - - Other
- D69 - Microeconomics - - Welfare Economics - - - Other
- K29 - Law and Economics - - Regulation and Business Law - - - Other
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