The future of insurance regulation and supervision: a global perspective

The recent financial crisis has provoked a broad spectrum of regulatory observations and possible responses. Most of these proposals until now have been quick solutions to politically pressing questions and often only address parts of regulatory systems but not the whole, causing at times more confusion than clarity. Although this is a common phenomenon following the severe failure of an existing financial infrastructure, there is an important difference this time: the global reach of today's markets and enterprises. Moreover, never beforehave so many reforms following a banking crisis not only affected the bankingsector but also other parts of the financial services sector, such as insurance, the social systems and, of course, our real economy. 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 GenevaAssociation, the world-leading think-tank of the private insurance industry. ÍNDICE: 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.Braumuller & A.Warzilek PART II: THE SUPERVISORY DIMENSION Qualityof Regulation and Supervision; I.Tower Solvency as a Focal Point of Prudential Regulation: Supervisory Lessons and Challenges; R.Curtis The Architecture ofInsurance 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.Machler 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.Flamee & 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 InternationalInsurance Centers; M.Ramella International Trade Agreements and their Impact on Regulation and Supervision of Insurance Services; J.Arkellr

• ISBN: 978-0-230-29269-7
• Editorial: Palgrave Macmillan
• Encuadernacion: Cartoné
• Páginas: 480
• Fecha Publicación: 01/04/2011
• Nº Volúmenes: 1
• Idioma: Inglés