Obstacles to International Trade in Insurance

Robert Carter

Chapter 12 in The Future of Financial Systems and Services, 1990, pp 205-221 from Palgrave Macmillan

Abstract: Abstract Insurance provides a means whereby a person or organisation exposed to possible financial losses arising from the occurrence of uncertain events may, in return for the payment of a premium, transfer that risk to an insurer. It satisfies a demand for financial security, and life insurance is also an important form of long-term personal saving. All private insurances operate by: 1. spreading the risk of loss over time, and between persons and organisations,1 and, unlike social security schemes 2. pooling the premiums collected from policyholders to create a fund from which claims can be paid at a later date.

Keywords: International Trade; Life Insurance; Foreign Company; Insurance Contract; Branch Office (search for similar items in EconPapers)
Date: 1990
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DOI: 10.1007/978-1-349-10439-0_12

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