Insurance regulation and the credit crisis. What’s new?
AbstractPrior to the 2008 global credit crisis, some developments had occurred in the regulation of the insurance industry worldwide. At different speeds, the world was heading toward a more risk-based solvency regulation and some convergence on principles and criteria. We see a common thread in the present discussion and in the way events happened. We consider that the great debate in the industry is a fundamental decision: whether to engage in other than core business activities. If the industry focuses on its insurance business, the argument for specialized regulation and the continuity of a conservative and prudent line of business is strong. Instead, if the industry deepens its identification with other lines of financial business, the specialized supervision arrangement does not hold. The move entails both possibilities of new, riskier and promising business, but also perils, since the industry “buys” the systemic characteristics that distinguish other financial institutions.
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Bibliographic InfoPaper provided by University Library of Munich, Germany in its series MPRA Paper with number 22296.
Date of creation: Feb 2010
Date of revision:
regulation; insurance; financial crisis; integrated supervision; financial conglomerates;
Other versions of this item:
- Gustavo FERRO, 2010. "Insurance Regulation And The Credit Crisis. What'S New?," Journal of Applied Research in Finance Bi-Annually, ASERS Publishing, vol. 0(1), pages 16-26, June.
- L51 - Industrial Organization - - Regulation and Industrial Policy - - - Economics of Regulation
- G22 - Financial Economics - - Financial Institutions and Services - - - Insurance; Insurance Companies; Actuarial Studies
This paper has been announced in the following NEP Reports:
- NEP-ALL-2010-05-02 (All new papers)
- NEP-BAN-2010-05-02 (Banking)
- NEP-IAS-2010-05-02 (Insurance Economics)
- NEP-IND-2010-05-02 (Industrial Organization)
- NEP-REG-2010-05-02 (Regulation)
Please report citation or reference errors to , or , if you are the registered author of the cited work, log in to your RePEc Author Service profile, click on "citations" and make appropriate adjustments.:
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"Seguros, crisis, regulación y disciplina del mercado
[Insurance, crisis, regulation and market discipline]," MPRA Paper 25593, University Library of Munich, Germany, revised 01 Oct 2010.
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