Reflections on Recent Problems in the Insurance Sector from a Belgian Supervisory Perspective
This 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.
Volume (Year): LIV (2009)
Issue (Month): 4 ()
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