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Financial Crisis Modify Role and Position of Insurance Branch
[Finanční krize modifikuje úlohu a postavení odvětví pojišťovnictví]

Author

Listed:
  • Jaroslav Daňhel
  • Eva Ducháčková
  • Jarmila Radová

Abstract

This article is dealt about present financial crisis as a result of previous credit expansion through public finance, consumer or mortgage credits above the frame tolerable of market principles. Debt problem vas mask with financial instrument innovations namely structured bonds in securing form. By the help of this instruments were walked around the state regulatory barriers and postpone assignment of disequilibrium. Authors show on the role of investment banking and rating agencies in this process. Special attention is paid to impact of financial crisis on insurance business, partly from the point of view obligations insurance, partly of from the point of view portfolio impacts. The article calls attention on asymmetry information problem and possible influence of crisis impact on stabilization regulatory projects (namely Solvency II for insurance branch) which have had made more efficient governmental supervisory body on financial markets.

Suggested Citation

  • Jaroslav Daňhel & Eva Ducháčková & Jarmila Radová, 2009. "Financial Crisis Modify Role and Position of Insurance Branch [Finanční krize modifikuje úlohu a postavení odvětví pojišťovnictví]," Český finanční a účetní časopis, Prague University of Economics and Business, vol. 2009(1), pages 42-50.
  • Handle: RePEc:prg:jnlcfu:v:2009:y:2009:i:1:id:18:p:42-50
    DOI: 10.18267/j.cfuc.18
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    Keywords

    Financial crisis; Financial instrument innovations; Regulatory projects; Rating agency; Crisis impact to insurance branch; Possibility of state regulatory of insurance market; Finanční krize; Inovativní finanční instrumenty; Regulatorní projekty; Ratingová agentura; Vliv krize na pojišťovnictví; Možnosti státní regulace pojišťovnictví;
    All these keywords.

    JEL classification:

    • D74 - Microeconomics - - Analysis of Collective Decision-Making - - - Conflict; Conflict Resolution; Alliances; Revolutions
    • D81 - Microeconomics - - Information, Knowledge, and Uncertainty - - - Criteria for Decision-Making under Risk and Uncertainty
    • D82 - Microeconomics - - Information, Knowledge, and Uncertainty - - - Asymmetric and Private Information; Mechanism Design
    • G22 - Financial Economics - - Financial Institutions and Services - - - Insurance; Insurance Companies; Actuarial Studies

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