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The Implementation of Self-Regulation in Praxis
[Implementace samoregulace v praxi]

Author

Listed:
  • Ondřej Poul

Abstract

The article deals with current issues of the self-regulation in the insurance market and demonstrates on the example the consequences of its improper implementation. The introductory essay brings the author's view of self-regulation definition. Further, the article deals with the environment in which the publication of "Ampelcheck Geldanlage" was issued by the Association of Consumer Hamburg. The publication was issued mainly to reduce information asymmetry from the side of insurance brokers and correct behavior of clients in the selection of suitable investment instruments for the creation of financial reserves for lately term of life. However, since it has several simplifications that have led to the erroneous conclusions for the insurance products, therefore the main part of the article concentrates on the analysis of conclusions from the publication and their confrontation with the current state of science. The article confirmed the importance of self-regulation and declared the requirements on its correct usage in practice. Mainly forward mutual communication and coordination of all concerned parties are necessary for effective implementation of any tool of self-regulation.

Suggested Citation

  • Ondřej Poul, 2010. "The Implementation of Self-Regulation in Praxis [Implementace samoregulace v praxi]," Český finanční a účetní časopis, Prague University of Economics and Business, vol. 2010(2), pages 52-62.
    • Handle: RePEc:prg:jnlcfu:v:2010:y:2010:i:2:id:67:p:52-62
    DOI: 10.18267/j.cfuc.67
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    More about this item

    Keywords

    Self-regulation; Insurance; Endowment Life Insurance; German Insurance Market; Pension products; Samoregulace; Pojištění; Kapitálové životní pojištění; Německý pojistný trh; Důchodové produkty;
    All these keywords.

    JEL classification:

    • G32 - Financial Economics - - Corporate Finance and Governance - - - Financing Policy; Financial Risk and Risk Management; Capital and Ownership Structure; Value of Firms; Goodwill
    • G39 - Financial Economics - - Corporate Finance and Governance - - - Other

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