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Global Perspectives on Insurance Today : A Look at National Interest versus Globalization - Cecelia Kempler

Global Perspectives on Insurance Today

A Look at National Interest versus Globalization

By: Cecelia Kempler (Editor), Michel Flamee (Editor), Charles Yang (Editor), Paul Windels (Editor)

Hardcover

Published: 13th July 2011
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Many risks face the global insurance industry today, including the aging populations of developed countries, competition from other financial institutions, and both disparate and quickly changing regulatory demands, to name a few. The book’s contributors offer their unique perspectives on challenges confronting the insurance industry and how attendant risks can be most effectively managed.

"Global Perspectives on Insurance Today is an excellent resource for senior executives, professional advisors, legislators, policy makers, regulators, and senior level or graduate students who have not confronted the unique issues currently challenging global insurers and reinsurers on a daily basis. These businesses stand apart in many respects from banks and other financial institutions. The industry and regulatory experts contributing to the book identify unique global, national and local insurance and reinsurance operational, accounting, investment, regulatory and risk issues facing the industry, and offer their individual perspectives on balancing and reconciling geographical disparities." - Dick P.M. Verbeek, Vice Chairman Emeritus Aon Group Inc.



"Global Perspectives on Insurance Today" is required reading for all practitioners of (re) insurance at the national and global level. Many of the brightest minds from industry stakeholders of mature and emerging markets present succinct, astute reviews of the history of the regulatory environment as well as forward-looking proposals." - Walter Bell, Chairman, Swiss Re America Holding Corporation



"Very interesting and educating. A must for those who are convinced that regulatory cooperation is necessary as well as for those who are not convinced yet!" - Karel Van Hulle, Head of Insurance and Pensions, European Commission

Forewordp. vii
Acknowledgmentsp. ix
Global Overview of Insurance/Reinsurance Regulations
Expansion, Contraction, Consolidation, and Regulationp. 3
The Future of International Insurance Supervision in Light of the Financial Crisisp. 11
Improving Regulatory Capital Requirements: Developments in the United Statesp. 25
Solvency II: A Balancing Actp. 37
Solvency II: A New Regulatory Frontierp. 53
The Move to Market Consistent Reporting for Insurersp. 69
Toward a Global Approach to Regulating Insurers and Reinsurersp. 83
Toward Global Reinsurance Regulationp. 91
Evolution of Insurance Group Supervisionp. 107
The Role of Financial Conglomerates in the Globalization of Financial Services: Regulatory Complexities and the European Perspectivep. 121
The Architecture of Group Supervisionp. 137
The IAIS Multilateral Memorandum of Understanding: An Important Tool for Cooperation and Information Exchange between Insurance Supervisorsp. 153
Uniform Treatment of Creditors' Rights: Fundamental to Global Insurance and Reinsurance Regulatory Advancesp. 161
Industry Governance and Risk Management
Corporate Governance and Risk Management in the Insurance and Reinsurance Industriesp. 171
Aggregating Global Risks Arising from Regulatory Disparitiesp. 189
Risk Culturep. 205
Incorporating Capital Requirements in Risk Managementp. 211
Securitization and Insurancep. 229
Structuring Catastrophe Bonds: A Functionalist Perspectivep. 245
Growth and Diversification of the Captive Insurance Marketp. 261
Global Insurance Markets
Past, Present, and Future Insurance Markets and Regulations in Chinap. 277
Financial Services Firms in India: The Road Ahead and the Challengesp. 291
Insurance Underutilization in Emerging Economies: Causes and Barriersp. 299
Notes on Editors/Contributorsp. 311
Indexp. 317
Table of Contents provided by Ingram. All Rights Reserved.

ISBN: 9780230104778
ISBN-10: 0230104770
Series: Africa Connects
Audience: Professional
Format: Hardcover
Language: English
Number Of Pages: 326
Published: 13th July 2011
Publisher: Palgrave Macmillan
Country of Publication: GB
Dimensions (cm): 22.9 x 15.2  x 2.03
Weight (kg): 0.67
Edition Number: 1