Reflections on Recent Problems in the Insurance Sector from a Belgian Supervisory Perspective

Paul Windels

Review of Business and Economic Literature, 2009, vol. LIV, issue 4, 438-460

Abstract: This paper sheds light on the financial turmoil in the insurance sector from a Belgian supervisory perspective.3 An assessment is made of the main difficulties encountered by insurers and their supervisors during the development and acceleration of the financial crisis. Particular attention is paid to the shortcomings in the present regulatory framework and a number of recommendations are proposed in this regard. The paper concludes that increased macro- economic consideration, structured cross-border cooperation and efficient crisis management arrangements have become essential elements enabling financial supervisors to tackle the challenge of financial globalization.

Keywords: financial crisis; insurance regulation; supervisory challenges; risk management (search for similar items in EconPapers)
JEL-codes: G01 G22 G28 (search for similar items in EconPapers)
Date: 2009
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Persistent link: https://EconPapers.repec.org/RePEc:ete:revbec:20090402

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