Challenges to Solvency II Reform in Insurance Industry

Berim Ramosaj

MPRA Paper from University Library of Munich, Germany

Abstract: Insurance Industry is going through a very important stage of its transformation - the transition from the classical system of management into a risk-based management. These changes were launched in Europe by international organizations which deal with the development of the necessary infrastructure for a better-managed industry and with a proper legal infrastructure through different European directives in insurance area. These changes have intensity in the finalization of the general technical, legal and structural infrastructure, which would be developed based on three pillars. The consequences of the current financial crisis as well as its impact towards the implementation of Insolvency II have not been analyzed yet. Its implementation, perhaps, would be an adequate response in facing this crisis.

Keywords: Solvency II; insurance industry; insurance reform; risk-based management (search for similar items in EconPapers)
JEL-codes: G10 G11 G18 G20 G22 G23 G28 G30 G32 G38 (search for similar items in EconPapers)
Date: 2010-11-16
New Economics Papers: this item is included in nep-ias and nep-rmg
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