The Economics Regulation And Systemic Risk Of Insurance Markets PDF Download
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Author | : Felix Hufeld |
Publisher | : Oxford University Press |
Total Pages | : 247 |
Release | : 2017 |
Genre | : Business & Economics |
ISBN | : 0198788819 |
Download The Economics, Regulation, and Systemic Risk of Insurance Markets Book in PDF, ePub and Kindle
The 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.
Author | : Andromachi Georgosouli |
Publisher | : Taylor & Francis |
Total Pages | : 237 |
Release | : 2017-09-19 |
Genre | : Law |
ISBN | : 1317799968 |
Download Systemic Risk and the Future of Insurance Regulation Book in PDF, ePub and Kindle
This book examines policy developments that have been occurring in the field of financial regulation and their implications for the insurance industry and markets. With UK and US contributors from academia and legal practice, this book will be essential reading for policy-makers, insurance regulators, insurance and legal professionals as well as students and academics researching and studying insurance law.
Author | : Georges Dionne |
Publisher | : Springer Science & Business Media |
Total Pages | : 1133 |
Release | : 2013-12-02 |
Genre | : Business & Economics |
ISBN | : 1461401550 |
Download Handbook of Insurance Book in PDF, ePub and Kindle
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.
Author | : United States. Congress. House. Committee on Financial Services. Subcommittee on Capital Markets, Insurance, and Government Sponsored Enterprises |
Publisher | : |
Total Pages | : 184 |
Release | : 2009 |
Genre | : Business & Economics |
ISBN | : |
Download Systemic Risk and Insurance Book in PDF, ePub and Kindle
Author | : John H. Biggs |
Publisher | : John Wiley & Sons |
Total Pages | : 304 |
Release | : 2014-03-25 |
Genre | : Business & Economics |
ISBN | : 1118758846 |
Download Modernizing Insurance Regulation Book in PDF, ePub and Kindle
The future of the insurance regulation begins now For those involved with the insurance industry, from investmentprofessionals to policy makers, and regulators to legislators,tremendous change is coming. With insurance premiums constitutingan ever-growing portion of annual U.S. GDP and provisions of theDodd-Frank Act specifically calling for modernization of insuranceregulations, the issues at hand are pervasive. In ModernizingInsurance Regulation, these issues are described against abackdrop of the political and industry discussions that surroundinsurance, regulation, and systemic risk. Experts Viral V. Acharyaand Matthew Richardson discuss a variety of issues with topthinkers in the fields of finance, derivatives, credit risk, andbanking to bring to light the most germane elements of this ongoingdiscussion. In Modernizing Insurance Regulation, Acharya andRichardson call on the expertise of all the relevant stakeholderswithin government, academia, and industry to offer a well-roundedand independent view of insurance regulation and how the evolutionof this key industry affects the U.S. economy now and in thefuture. Provides an overview of the feasibility of maintaining astate-level regulatory structure Offers a view of the issues from top academics, industryleaders, and state regulators Explores the debate surrounding the insurance industry andsystemic risk Provides an in-depth look at upcoming changes under theDodd-Frank Act Modernizing Insurance Regulation provides a look into thecrucial changes coming to insurance regulation and an overview ofhow those changes will affect almost everyone.
Author | : Daniel Schwarcz |
Publisher | : |
Total Pages | : 72 |
Release | : 2015 |
Genre | : |
ISBN | : |
Download Regulating Systemic Risk in Insurance Book in PDF, ePub and Kindle
As exemplified by the dramatic failure of AIG, insurance companies and their affiliates played a central role in the 2008 global financial crisis. It is therefore not surprising that the Dodd-Frank Act -- the United States' primary legislative response to the crisis -- contained an entire title dedicated to insurance regulation, which has traditionally been the responsibility of individual states. The most important insurance-focused reforms in Dodd-Frank empower the Federal Reserve Bank to impose an additional layer of regulatory scrutiny on top of state insurance regulation for a small number of “systemically important” nonbank financial companies, such as AIG. This Article argues, however, that in focusing on the risk that an individual insurance-focused, nonbank financial company could become systemically significant, Dodd-Frank largely overlooked a second, and equally important, potential source of systemic risk in insurance: the prospect that correlations among individual insurance companies could contribute to or cause widespread financial instability. In fact, this Article argues that there are often substantial correlations among individual insurance companies with respect to both their interconnections with the larger financial system and their vulnerabilities to failure. As a result, the insurance industry as a whole can pose systemic risks that regulation should attempt to identify and manage. Traditional state-based insurance regulation, this Article contends, is poorly adapted to accomplishing this given the mismatch between state boundaries and systemic risks, as well as states' limited oversight of noninsurance financial markets. As such, this Article suggests enhancing the power of the Federal Insurance Office -- a federal entity primarily charged with monitoring the insurance industry -- into supplement or preempt state law when states have failed to satisfactorily address gaps or deficiencies in insurance regulation that could contribute to systemic risk.
Author | : Weidong Tian |
Publisher | : MDPI |
Total Pages | : 146 |
Release | : 2020-07-01 |
Genre | : Social Science |
ISBN | : 3039362984 |
Download Systemic Risk and Reinsurance Book in PDF, ePub and Kindle
This Special Issue covers the topic of timely vital risk management - systemic risk - from many important perspectives. It includes novel and scientific approaches from the network with topological indicators on systemic risk, community analysis of the global financial system, welfare analysis of capital insurance and the impact of capital requirement, risk measures, and optimal portfolio and optimal reinsurance under risk constraint. Most articles study the financial sector and insurance companies after the financial crisis of 2008–2009 circa ten years prior. The COVID-19 global pandemic in 2020 has caused similar or even greater challenges for the entire economy. Therefore, this Special Issue will be useful for anyone interested in systemic risk management.
Author | : Georges Dionne |
Publisher | : Springer Science & Business Media |
Total Pages | : 742 |
Release | : 2013-11-11 |
Genre | : Business & Economics |
ISBN | : 9401579571 |
Download Foundations of Insurance Economics Book in PDF, ePub and Kindle
Economic and financial research on insurance markets has undergone dramatic growth since its infancy in the early 1960s. Our main objective in compiling this volume was to achieve a wider dissemination of key papers in this literature. Their significance is highlighted in the introduction, which surveys major areas in insurance economics. While it was not possible to provide comprehensive coverage of insurance economics in this book, these readings provide an essential foundation to those who desire to conduct research and teach in the field. In particular, we hope that this compilation and our introduction will be useful to graduate students and to researchers in economics, finance, and insurance. Our criteria for selecting articles included significance, representativeness, pedagogical value, and our desire to include theoretical and empirical work. While the focus of the applied papers is on property-liability insurance, they illustrate issues, concepts, and methods that are applicable in many areas of insurance. The S. S. Huebner Foundation for Insurance Education at the University of Pennsylvania's Wharton School made this book possible by financing publication costs. We are grateful for this assistance and to J. David Cummins, Executive Director of the Foundation, for his efforts and helpful advice on the contents. We also wish to thank all of the authors and editors who provided permission to reprint articles and our respective institutions for technical and financial support.
Author | : Guillaume Plantin |
Publisher | : Princeton University Press |
Total Pages | : 112 |
Release | : 2009-04-11 |
Genre | : Business & Economics |
ISBN | : 1400827779 |
Download When Insurers Go Bust Book in PDF, ePub and Kindle
In the 1990s, large insurance companies failed in virtually every major market, prompting a fierce and ongoing debate about how to better protect policyholders. Drawing lessons from the failures of four insurance companies, When Insurers Go Bust dramatically advances this debate by arguing that the current approach to insurance regulation should be replaced with mechanisms that replicate the governance of non-financial firms. Rather than immediately addressing the minutiae of supervision, Guillaume Plantin and Jean-Charles Rochet first identify a fundamental economic rationale for supervising the solvency of insurance companies: policyholders are the "bankers" of insurance companies. But because policyholders are too dispersed to effectively monitor insurers, it might be efficient to delegate monitoring to an institution--a prudential authority. Applying recent developments in corporate finance theory and the economic theory of organizations, the authors describe in practical terms how such authorities could be created and given the incentives to behave exactly like bankers behave toward borrowers, as "tough" claimholders.
Author | : Joseph G. Haubrich |
Publisher | : University of Chicago Press |
Total Pages | : 286 |
Release | : 2013-01-24 |
Genre | : Business & Economics |
ISBN | : 0226921964 |
Download Quantifying Systemic Risk Book in PDF, ePub and Kindle
In the aftermath of the recent financial crisis, the federal government has pursued significant regulatory reforms, including proposals to measure and monitor systemic risk. However, there is much debate about how this might be accomplished quantitatively and objectively—or whether this is even possible. A key issue is determining the appropriate trade-offs between risk and reward from a policy and social welfare perspective given the potential negative impact of crises. One of the first books to address the challenges of measuring statistical risk from a system-wide persepective, Quantifying Systemic Risk looks at the means of measuring systemic risk and explores alternative approaches. Among the topics discussed are the challenges of tying regulations to specific quantitative measures, the effects of learning and adaptation on the evolution of the market, and the distinction between the shocks that start a crisis and the mechanisms that enable it to grow.