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The Economics Regulation And Systemic Risk Of Insurance Markets

The Economics  Regulation  and Systemic Risk of Insurance Markets PDF

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Author: Felix Hufeld
Publisher: Oxford University Press
ISBN: 0191093173
Size: 65.73 MB
Format: PDF, ePub
Category : Business & Economics
Languages : en
Pages : 256
View: 2216


Despite the importance of insurance in enabling individual and collective social, economic, and financial activities, discussions about the macroeconomic role and risks of insurance markets are surprisingly limited. This book brings together academics, regulators, and industry experts to provide a multifaceted array of research and perspectives on insurance, its role and functioning, and the potential systemic risk it could create. The first part discusses the macroeconomic role of insurance and how insurance is different from banking and general finance. Understanding the differences between the balance sheets of insurers and other financial intermediaries is essential for understanding the potential differences in risk nature and optimal regulation. The second part of the book focuses on the risks managed by the insurance sector and the potential for systemic risk. The chapters discuss the risks both on the asset and liability sides of insurers' balance sheets. The third part of the book covers the impact of regulation on insurance companies. Existing regulation is often complex and has a large impact on insurance companies' decision-making and functioning. The chapters also illustrate the unintended consequences of various forms of regulation. The book concludes with a summary of a survey that has been conducted in collaboration with McKinsey, where insurance executives have been asked about the risks and regulation in the insurance sector. The survey provides guidance for future research on insurance markets.

The Future Of Insurance Regulation And Supervision

The Future of Insurance Regulation and Supervision PDF

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Author: Patrick M. Liedtke
Publisher: Palgrave Macmillan
ISBN: 0230318789
Size: 55.70 MB
Format: PDF, Docs
Category : Business & Economics
Languages : en
Pages : 472
View: 6533


The recent financial crisis has provoked a broad spectrum of regulatory observations and possible responses. Currently most of these proposals have been quick solutions to politically pressing questions and often only address parts of regulatory systems, but not the whole. At times, the result has been more confusion than clarity. Although historically wide-ranging reshaping has been a common phenomenon after 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 before have so many reforms following a banking crisis not only affected the banking sector 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 Geneva Association, the world-leading think-tank of the private insurance industry.

Perspectives On Modernizing Insurance Regulation

Perspectives on Modernizing Insurance Regulation PDF

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Author: United States. Congress. Senate. Committee on Banking, Housing, and Urban Affairs
Publisher:
ISBN:
Size: 46.41 MB
Format: PDF, ePub
Category : Electronic books
Languages : en
Pages : 156
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Regulatory Modernization

Regulatory Modernization PDF

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Author: United States. Congress. Senate. Committee on Banking, Housing, and Urban Affairs
Publisher:
ISBN:
Size: 40.94 MB
Format: PDF, ePub, Mobi
Category : Government publications
Languages : en
Pages : 121
View: 3966



Handbook Of Insurance

Handbook of Insurance PDF

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Author: Georges Dionne
Publisher: Springer Science & Business Media
ISBN: 1461401550
Size: 70.12 MB
Format: PDF, Mobi
Category : Business & Economics
Languages : en
Pages : 1126
View: 3208


This new edition of the Handbook of Insurance reviews the last forty years of research developments in insurance and its related fields. A single reference source for professors, researchers, graduate students, regulators, consultants and practitioners, the book starts with the history and foundations of risk and insurance theory, followed by a review of prevention and precaution, asymmetric information, risk management, insurance pricing, new financial innovations, reinsurance, corporate governance, capital allocation, securitization, systemic risk, insurance regulation, the industrial organization of insurance markets and other insurance market applications. It ends with health insurance, longevity risk, long-term care insurance, life insurance financial products and social insurance. This second version of the Handbook contains 15 new chapters. Each of the 37 chapters has been written by leading authorities in risk and insurance research, all contributions have been peer reviewed, and each chapter can be read independently of the others.

Law And Business Review Of The Americas

Law and Business Review of the Americas PDF

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Author:
Publisher:
ISBN:
Size: 21.15 MB
Format: PDF, ePub
Category : Commercial law
Languages : en
Pages :
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Engineering The Financial Crisis

Engineering the Financial Crisis PDF

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Author: Jeffrey Friedman
Publisher: University of Pennsylvania Press
ISBN: 0812205073
Size: 20.68 MB
Format: PDF
Category : Business & Economics
Languages : en
Pages : 224
View: 6151


The financial crisis has been blamed on reckless bankers, irrational exuberance, government support of mortgages for the poor, financial deregulation, and expansionary monetary policy. Specialists in banking, however, tell a story with less emotional resonance but a better correspondence to the evidence: the crisis was sparked by the international regulatory accords on bank capital levels, the Basel Accords. In one of the first studies critically to examine the Basel Accords, Engineering the Financial Crisis reveals the crucial role that bank capital requirements and other government regulations played in the recent financial crisis. Jeffrey Friedman and Wladimir Kraus argue that by encouraging banks to invest in highly rated mortgage-backed bonds, the Basel Accords created an overconcentration of risk in the banking industry. In addition, accounting regulations required banks to reduce lending if the temporary market value of these bonds declined, as they did in 2007 and 2008 during the panic over subprime mortgage defaults. The book begins by assessing leading theories about the crisis—deregulation, bank compensation practices, excessive leverage, "too big to fail," and Fannie Mae and Freddie Mac—and, through careful evidentiary scrutiny, debunks much of the conventional wisdom about what went wrong. It then discusses the Basel Accords and how they contributed to systemic risk. Finally, it presents an analysis of social-science expertise and the fallibility of economists and regulators. Engagingly written, theoretically inventive, yet empirically grounded, Engineering the Financial Crisis is a timely examination of the unintended—and sometimes disastrous—effects of regulation on complex economies.

Foundations Of Financial Risk

Foundations of Financial Risk PDF

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Author: GARP (Global Association of Risk Professionals)
Publisher: John Wiley & Sons
ISBN: 1119106397
Size: 25.16 MB
Format: PDF, ePub, Docs
Category : Business & Economics
Languages : en
Pages : 368
View: 5920


Gain a deeper understanding of the issues surrounding financial risk and regulation Foundations of Financial Risk details the various risks, regulations, and supervisory requirements institutions face in today's economic and regulatory environment. Written by the experts at the Global Association of Risk Professionals (GARP), this book represents an update to GARP's original publication, Foundations of Banking Risk. You'll learn the terminology and basic concepts surrounding global financial risk and regulation, and develop an understanding of the methods used to measure and manage market, credit, and operational risk. Coverage includes traded market risk and regulation, treasury risk and regulation, and much more, including brand new coverage of risk management for insurance companies. Clear explanations, focused discussion, and comprehensive relevancy make this book an ideal resource for an introduction to risk management. The textbook provides an understanding of risk management methodologies, governance structures for risk management in financial institutions and the regulatory requirements dictated by the Basel Committee on Banking Supervision. It provides thorough coverage of the issues surrounding financial risk, giving you a solid knowledgebase and a practical, applicable understanding. Understand risk measurement and management Learn how minimum capital requirements are regulated Explore all aspects of financial institution regulation and disclosure Master the terminology of global risk and regulation Financial institutions and supervisors around the world are increasingly recognizing how vital sound risk management practices are to both individual firms and the capital markets system as a whole. Savvy professionals recognize the need for authoritative and comprehensive training, and Foundations of Financial Risk delivers with expert-led education for those new to risk management.

Journal Of Regulatory Economics

Journal of regulatory economics PDF

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Author:
Publisher:
ISBN:
Size: 48.67 MB
Format: PDF
Category :
Languages : en
Pages :
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The European Insurance Industry

The European Insurance Industry PDF

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Author: Antonella Cappiello
Publisher: Springer Nature
ISBN: 3030431428
Size: 18.56 MB
Format: PDF, Docs
Category : Business & Economics
Languages : en
Pages : 126
View: 4594


This book analyses the methodologies and functions of a systemic approach to risk governance and internal control capable of tackling the complexity of the insurance business. It focuses on the main trends currently impacting the insurance industry, characterized by new operators, new products and services, new tools, new styles of competition, and new risks. It provides tips and empirical contributions addressing the role of sound internal control and risk management models within an ongoing revision of prudential regulation to better deal with the evolving scenario where insurance activities are becoming increasingly risky and complex. The book is of particular interest to scholars and students of insurance and financial services and practitioners in the insurance industry.

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