Several empirical studies have attempted to clarify whether differences in regulations affect people's behavior. However, due to a lack of data, few have attempted to clarify whether these differences affect the purchase of insurance. Therefore, in this study, I conducted a survey of consumers...

The relevance of the study was due to the transformation of approaches to regulating the solvency of insurers in the world's leading economies and the need to adapt the Ukrainian insurance supervision system to international standards. Countries with developed insurance markets use capital...

Switzerland has a large and sophisticated insurance market, which demonstrated resilience over time. The insurance industry, with overall premiums accounting for 60 percent of the Swiss GDP, has adapted to a long period of low interest rates and managed the impact of the COVID 19 pandemic. The...

This Technical Note focuses on Insurance Micro and Macroprudential Supervision in the euro area (EA). The institutional framework for insurance regulation and supervision in the EA has evolved gradually, with significant legislative processes still in development at the time of the financial...

This assessment of insurance supervision and regulation in Japan was carried out as part of the 2024 Financial Sector Assessment Program (FSAP). This assessment has been made against the Insurance Core Principles (ICPs) issued by the International Association of Insurance Supervisors (IAIS) in...

The insurance sector in Luxembourg is very large and serves as a European hub, specifically in the non-life (re)insurance sector and in unit-linked life insurance. Sector assets equaled EUR 289bn in June 2023, corresponding to 372 percent of GDP, significantly higher than in other European...

The Dutch insurance sector is undergoing further consolidation, the life sector has been steadily shrinking over the last two decades, and the non-life market is relatively saturated. Sales of new life products, especially individual life business, have decreased since the early 2000s, putting...

Successive crises in the early twenty-first century prompted regulators around the world to ask financial institutions to implement a series of regulations. These measures aimed to increase transparency, improve consumer and investor protection, restructure financial capital, stabilize insurance...

The Financial Sector Assessment Program (FSAP) conducted a focused review of insurance regulation and supervision in Belgium. This technical note (TN) provides an update on the insurance sector and highlights risks and vulnerabilities. It analyzes key aspects of regulatory and supervisory...

Preface -- Introduction -- Part 1: History -- Developments in Risk and Insurance Economics: the Past 40 Years -- Part 2 : Risk and Insurance Theory Without Information Problems -- Higher-Order Risk Attitudes -- Non-Expected Utility and the Robustness of the Classical Insurance Paradigm -- The...

The paper examines the increasing influence of capital markets on the insurance legislation within the field of financial services and their distribution. Acknowledging the trend, the author poses herself a question whether the MiFID II regulation should serve as a mere inspiration for the...

This Technical Note highlights Ireland's Insurance Regulation and Supervision. Ireland's insurance sector is characterized by high penetration and density in both the life and the non-life sector, which, however, stems largely from outward cross-border business. Irish insurers have proved to be...

The South African insurance sector is large, complex, internationally active, and competitive. Supported by high penetration and density of insurance products, the insurance sector has grown to account for 18 percent of the financial sector in South Africa. The industry hosts an unusually...

The regulatory framework for insurance supervision in the United Kingdom is sophisticated and the authorities are leaders in supervisory techniques. Observance with the Insurance Core Principles (ICPs) is very high compared to peers with 17 ICPs observed and only 6 out of 24 ICPs determined to...

Directive 2009/138/EC, best known as Solvency II Directive, is more than a directive that simply regulates the supervision and the taking-up and pursuit of (re)insurance business in the EU. First and foremost, it introduces a new perspective on the role of (re)insurance undertakings towards risk...

The review of the Solvency II framework is the biggest and most important regulatory change of the EU insurance regulation since 2014. It tackles both level 1 and level 2 regulations. It has been long awaited and was significantly delayed because of the pandemic. Ultimately, the European...

This study examined the principles of insurance regulation and the factors which have driven the increased resort to intervention in the insurance markets by regulators. The main tools of regulation are laws enacted by parliament, regulations and practice guidelines by regulators, as well as...

Most landlords do not carry liability insurance, which means that most residents have little chance of recovery after being harmed by dangerous housing conditions. More disabling injuries occur in homes than in workplaces and motor vehicles combined. These risks disproportionately affect...

Insurance is an enormously powerful and beneficial method of spreading risk and compensating for loss. But even insurance has its limits. A new and misleading aspiration for insurance – that it also can and often does substitute for or significantly complement health and safety regulation –...

The U.K. financial sector is globally systemic, open, and complex. It has weathered the COVID-19 pandemic fittingly, thanks to the post-GFC reforms, a proactive macroprudential stance, and an effective multipronged response to maintain financial stability. Brexit uncertainties are being handled...

Introduction -- Part I – The System of Governance of Insurance Undertakings -- Corporate Governance and the so-called “Four-Eyes Principle” -- The Risk Management System, the Risk Culture, and the Duties of the Insurers' Directors -- Role and Significance of the Compliance Function in an...

Das Hamburger Zentrum für Versicherungswissenschaft legt in der Reihe D die besten Abschlussarbeiten aus dem Masterstudiengang Versicherungsrecht der Universität Hamburg einem breiteren Fachpublikum vor. Der berufsbegleitende und praxisbezogene Studiengang vermittelt vertiefte Kenntnisse des...

Introduction -- Theoretical Background And State Of Research -- Sfcr Content Analysis: Structural Changes Due To Brexit -- Event Study: Impact Of Brexit On The Stock Prices Of Eu- And Uk-Based Insurance Companies -- Literature Review: Impact Of Brexit On Solvency Ii -- Conclusion And...

In the view of the current discussion on how to regulate the emerging InsurTech companies, if at all, the author attempts to demonstrate that rather than automatically introducing new regulation, the principle of proportionality can, in most cases, help to adapt application of the existing rules...

The financial system in the Kingdom of Saudi Arabia (KSA) has a history of relative soundness, particularly in banking, due to comparatively strict and enforced domestic supervision, and supported by what has been for the most part a reasonably robust economy. However, the sector is facing...

This note provides an update and assessment of developments in insurance supervision since 2014. It is part of the 2020 Financial Sector Assessment Program (FSAP) for the Hong Kong SAR (HKSAR) and draws on discussions there from September 10 to 24, 2019. It has not been updated for the impact of...