Assessing the Impact of the Financial Crisis on Global Insurance Regulation
Assessing the Impact of the Financial Crisis on Global Insurance Regulation

Author(s): Eliška Hrabalová, Eva Vávrová, Lenka Přečková
Subject(s): Supranational / Global Economy, Financial Markets, Globalization
Published by: Masarykova univerzita nakladatelství
Keywords: financial crisis; globalization; insurance market; regulation; authority; contagion channel; trigger;
Summary/Abstract: The aim of this paper is to analyze the impact of the financial crisis on insurance markets in different regions of the global insurance market and to evaluate changes in global approaches to insurance regulation depending on the effects of the financial crisis. The financial crisis has triggered an identified banking crisis and has shifted through the contagion channels from the US mortgage market to other financial sectors and regions of the world. With regard to the integration of financial institutions and the globalization of financial markets, a number of regulatory proposals has emerged in recent years to address the impact of the crisis, to eliminate the trigger of the crisis and to prevent recurrence of the causes of the crisis. This paper builds on the contribution of the authors (Vávrová, Nečas, 2016) published at the international scientific conference European Financial System 2016, whose main objective was to assess the development of financial health of insurers within the global insurance market in the period of lingering financial crisis and to draw conclusions based on the analysis of the insurance sector.

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