Financial Crisis Modify Role and Position of Insurance Branch

Finanční krize modifikuje úlohu a postavení odvětví pojišťovnictví

Jaroslav Daňhel, Eva Ducháčková and Jarmila Radová

Český finanční a účetní časopis, 2009, vol. 2009, issue 1, 42-50

Abstract: This article is dealt about present financial crisis as a result of previous credit expansion through public finance, consumer or mortgage credits above the frame tolerable of market principles. Debt problem vas mask with financial instrument innovations namely structured bonds in securing form. By the help of this instruments were walked around the state regulatory barriers and postpone assignment of disequilibrium. Authors show on the role of investment banking and rating agencies in this process. Special attention is paid to impact of financial crisis on insurance business, partly from the point of view obligations insurance, partly of from the point of view portfolio impacts. The article calls attention on asymmetry information problem and possible influence of crisis impact on stabilization regulatory projects (namely Solvency II for insurance branch) which have had made more efficient governmental supervisory body on financial markets.

Keywords: Financial crisis; Financial instrument innovations; Regulatory projects; Rating agency; Crisis impact to insurance branch; Possibility of state regulatory of insurance market; Finanční krize; Inovativní finanční instrumenty; Regulatorní projekty; Ratingová agentura; Vliv krize na pojišťovnictví; Možnosti státní regulace pojišťovnictví (search for similar items in EconPapers)
JEL-codes: D74 D81 D82 G22 (search for similar items in EconPapers)
Date: 2009
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DOI: 10.18267/j.cfuc.18

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