The Future of Insurance Regulation and Supervision A Global Perspective

by Monkiewicz, Jan; Liedtke, Patrick M.

• ISBN13: 9780230292697
• ISBN10: 0230292690
• Edition: 1st
• Format: Hardcover
• Copyright: 2011-05-15
• Publisher: Palgrave Macmillan

Summary

Written by leading academics, researchers and insurance industry experts, this book offers a diversified perspective on how the regulatory and supervisory framework for the insurance sector will develop over the coming years. It is supported by The Geneva Association, the world-leading insurance think-tank of the private industry.

Author Biography

Patrick M. Liedtke is Secretary General and Managing Director at The Geneva Association, Switzerland. He is Editor-in-Chief of The Geneva Papers on Risk and Insurance - Issues and Practice, and Editor of the Insurance and Finance newsletter. Jan Monkiewicz is Professor in Financial Management at Warsaw University of Technology, Poland. He is on the editorial board of The Geneva Papers on Risk and Insurance - Issues and Practice, and Editor of the PROGRES newsletter of The Geneva Association.

Table of Contents

Preface; D.Kessler
Introduction; P.M.Liedtke & J.Monkiewicz
PART I: THE GLOBAL FRAMEWORK
Insurance Activity as a Regulatory Object: Trends and Developments and their Appreciation in the Context of Post-Crisis Global Markets; P.M.Liedtke
Economic Rationale for Insurance Regulation; W.J.Kwon
Global Financial Architecture and Insurance Sector; E.Denters
Insurance and Financial Stability; P.Braumüller & A.Warzilek
PART II: THE SUPERVISORY DIMENSION
Quality of Regulation and Supervision; I.Tower
Solvency as a Focal Point of Prudential Regulation: Supervisory Lessons and Challenges; R.Curtis
The Architecture of Insurance Supervision Before and After the Financial Crisis; D.Masciandaro & M.Quintyn
PART III: MARKET DIMENSION
The Role of Market Discipline in the Insurance Industry; M.Eling
Insurance Group Supervision: Addressing the Emergence of Adverse Network Dynamics; M.Mächler
Credit Default Swaps: Towards Tighter Regulation of the 'Shadow Insurance Sector'; N.Jassaud & S.Schich
The Regulation of Global Reinsurance Markets: Current State of Affairs and Future Challenges; P.Brahin
PART IV: STAKEHOLDER PROTECTION
Challenges and Approaches in the Consumer Protection in the Insurance Industry; S.Tennyson
Insurance Guarantee Funds and their Relation to Solvency Regulation; H.Schmeiser & P.Rymaszewski
Government Intervention in Insurance: an Examination of the Risk of Moral Hazard; M.Flamée & P.Windels
Systemicness of Insurance Companies: Cross-Border Aspects and Policy Implications; A.Houben & M.Teunissen
PART V: DEVELOPED MARKETS PERSPECTIVE
Regulatory Challenges and Developments in the United States; T.Vaughan
Regulatory Challenges and Developments in the European Union; K.van Hulle
Regulatory Challenges and Developments in Japan; Y.Hayasaki
PART VI: EMERGING MARKETS PERSPECTIVE
China's Insurance Regulation: Framework, Issues and Prospects; W.Zheng
Regulatory Challenges and Developments in Latin America; M.Aguilera-Verduzco
Regulatory and Supervisory Issues and Challenges in Russian Insurance Sector in the Aftermath of the Transformation; M.Monkiewicz
PART VII: INTERNATIONAL ISSUES
Insurance Regulation: Mutual Recognition, Equivalence and International Standards; B.Kading & L.Madeiros
Regulatory Future of International Insurance Centers; M.Ramella
International Trade Agreements and their Impact on Regulation and Supervision of Insurance Services; J.Arkell