Phenomenon of Globalization on the Insurance Market of the Slovak Republic Cover Image

Javové podoby globalizácie na poistnom trhu v Slovenskej republike
Phenomenon of Globalization on the Insurance Market of the Slovak Republic

Author(s): Erika Pastoráková
Subject(s): Economy
Published by: Ekonomický ústav SAV a Prognostický ústav SAV
Keywords: changes in the legislation relating to insurance business in the SR; integrated supervision over financial market; cooperation of private and public insurance; electronic sale of insurance products

Summary/Abstract: This article deals with a rarely discussed topic of globalization on the insurance market of the Slovak Republic. The scope of our interests includes the insurance market based on market principles. We followed two particular lines of changes caused by globalization. One of them includes changes in the legislative frame-work where we also highlight situations, which are by mistake considered to be forced by globalization. Here we included currently prepared or intended legislation changes (Solvency II). The second line of changes includes concen-tration on the insurance market of the Slovak Republic, mutual cooperation of banks with insurance companies, cooperation of the private and public insurance and also a new way of sale of insurance products (e-business). None of the above-mentioned changes could be considered as completed. We expect further developments, which will be enforced by different ratios of damages vs. under-written premiums and also changes in life expectancy.

  • Issue Year: 54/2006
  • Issue No: 08
  • Page Range: 785-802
  • Page Count: 18
  • Language: Slovak