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2015 | 1 (15) | nr 3 | 5--19
Tytuł artykułu

The Changing Architecture of the Safety Net in Insurance Worldwide : Post Crisis Developments

Treść / Zawartość
Warianty tytułu
Języki publikacji
EN
Abstrakty
EN
This aim of this paper is to explain the safety net of the insurance sectorunderstood as the total means which ensure the safety of the insurance markets and their customers and how it has been heavily affected by recent regulatory initiatives. The paper then provides a review and analysis of the directions of the evolution of the architecture safety net in insurance as compared to banking. Special attention is paid to macroprudential supervision which is believed to constitute a major regulatory innovation in the aftermath of the recent global financial crisis. Additionally new restructuring and resolution concepts and tools are discussed. Particular attention is focused on Global Systemically Important Insurers (G-SII's) which are the focus of safety net regulation and which provide a regulatory impetus for the remaining part of the industry.(original abstract)
Rocznik
Tom
Numer
Strony
5--19
Opis fizyczny
Twórcy
  • Warsaw University of Technology, Poland
  • Warsaw University of Technology, Poland
  • Warsaw University, Poland
Bibliografia
  • Baker, A., 2013, The New Political Economy of the Macroprudential Ideational Shift, New Political Economy, no 18(1): 112-139.
  • Claessens, S., Kodres, L., 2014, The Regulatory Responses to the Global Financial Crisis: Some Uncomfortable Questions, IMF Working Paper, March.
  • Dewatripont, M., Tirole, J., 1994 The Prudential Regulation of Banks, MIT Press, Cambridge, Mass.
  • Eatwell, J., 2009, Practical Proposals for Regulatory Reform, in: Subacchi, P., Monsarrat, R. (eds.), New Ideas for the London Summit: Recommendations to the G20 Leaders, Royal Institute for International Affairs, The Atlantic Council, Chatham: 11-15.
  • FSB, 2014a, Key Attributes of Effective Resolution Regimes for Financial Institutions, 15 October.
  • FSB, 2014b, Towards Full Implementation of the Key Attributes of Effective Resolution Regimes for Financial Institutions, Report to The G20 on Progress in Reform of Resolution Planning for Globally Systemically Important Financial Institutions (G-SISIs), 12 November.
  • Helleiner, E., 2010, A Bretton Wood Moment? The 2007-2008 Crisis and the Future of Global Finance, International Affairs, May: 619-636.
  • Houben, A., 2013, Aligning Macro- and Microprudential Supervision, in: Kellerman, J.A. et al. (eds.), Financial Supervision in the 21st Century, Springer, Berlin: 201-220.
  • IAIS, 2013, Global Systemically Important Insurers: Policy Measures, July.
  • Monkiewicz, M., 2013, Bezpieczeństwo rynku ubezpieczeniowego UE a systemy gwarancyjne pewności ochrony ubezpieczeniowej. Teoria i praktyka, Poltext, Warszawa.
  • Monkiewicz, J., Małecki, M. (eds.), 2014, Macroprudential Supervision in Insurance. Theoretical and Practical Aspects, Palgrave Mcmillan, London.
  • Nier, E.W., Osiński, J., Jacome, L.I., Madrid, P., 2011, Institutional Models for Macroprudential Policies, IMF Staff Discussion Note, I/18.
  • Osiński, J., Seal, K., Hoogduin, L., 2013, Macroprudential and Microprudential Policies: Toward Cohabitation, IMF Staff Discussion Note, June.
  • Plantin, G., Rochet, J.Ch., 2007, When Insurers Go Bust. An Economic Analysis of the Role and Design of Prudential Regulation, Princeton University Press.
  • SwissRe, 2010, Regulatory Issues in Insurance, Sigma, no. 3.
  • Solarz, J.K., 2008, Zarządzanie ryzykiem systemu finansowego, PWN, Warszawa.
  • Szpunar, P., 2012, Rola polityki makroostrożnościowej w zapobieganiu kryzysom finansowym, NBP, Materiały i Studia, nr 278, Warszawa.
  • Thimann, Ch., 2014, How Insurers Differ from Banks: A Primer for Systemic Regulation, July, Axa Group and Paris School of Economics: 1-23.
  • Vittas, D., 1991, The Impact of Regulation on Financial Intermediation, The World Bank, WPS, August.
Typ dokumentu
Bibliografia
Identyfikatory
Identyfikator YADDA
bwmeta1.element.ekon-element-000171402407

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