International regulatory agenda in insurance in a context of current financial crisis. Are we on the right track?
International regulatory agenda in insurance in a context of current financial crisis. Are we on the right track?

Summary/Abstract: In author's opinion, the program of regulatory actions should reflect the current role and characteristics f insurance sector and it must be coordinated with their changes. Particular specificity of insurance companies has been stressed in the paper in respect of taking over risks from other market entities, and their dissimilarity to any other subjects of the market, especially banks, has been shown. Attention has been paid to a number of changes which have been taking place within insurance industry for last few years, especially the popular- ity of international insurance groups, development of large and complex financial institu- tions, the growing globalization and cross-border trade, appearance of new business mod- els, a growing integration with other financial services, radical changes in market offers, appearance of new market risks. The background of changes which can be observed in global scale, has been confronted to the current program of regulatory actions implement- ed by the main global regulatory subjects in the field of insurance.

• Details
• Contents