This book will discuss and analyse policy developments that have been occurring in the field of financial regulation and the implications for the insurance industry and markets.
The reform of insurance regulation has been a controversial subject for some time. A key driver of the reform has been the need to maintain financial stability by taking better control of systemic risk. Although there is a general consensus in favour of measures that aim to ensure a stable financial system, there is considerable debate as to whether insurance business is actually systemic. This book analyses systemic risk and the nature of insurance business, offering a critical assessment of what this interaction tells us about the rationale and merits of the current reform that is shaping the future of insurance regulation.
With contributors from a variety of fields including academia, legal practice, the insurance industry and financial regulation in the UK and the US this book will be essential reading for policy-makers, insurance regulators, insurance and legal professionals as well as students and academics researching and studying insurance law.
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