The Impact of the Financial Crisis on the Insurance Sector and Policy Responses

2011 ◽  
Author(s):  
Keyword(s):  
Financial Crisis ◽  
Insurance Sector ◽  
Policy Responses ◽  
The Impact

AN EMPIRICAL STUDY OF INDIAN INSURANCE INDUSTRY POST GLOBAL FINANCIAL CRISIS

2015 ◽  
Vol 6 (01-02) ◽  
Author(s):  
Anis Ur Rehman ◽  
Yasir Arafat Elahi ◽  
Sushma .
Keyword(s):  
Financial Crisis ◽  
Global Financial Crisis ◽  
Insurance Industry ◽  
Primary Data ◽  
Policy Recommendations ◽  
Insurance Sector ◽  
The World ◽  
The Impact ◽  
The New Deal

India has recently emerged as a major political and economic power in the world. The financial crisis that engulfed the world in 2008 needed developing countries like India to lead the rescue and recovery, instead of G7 westerns countries who dealt with such crisis in the past. Recently, discussions and negotiations are going amongst G20 countries regarding a new global financial architecture (G-20 Summit, 2008). The outcome will affect the relevant industries in India and hence it is a public interest issue for the actuarial profession in the country. Increased and more intrusive and costly regulations and red tapes are likely to be a part of the new deal (Economic Survey 2009-10). The objective of this paper is to study the perception of higher level authorities in Insurance sector regarding the role of regulator in minimizing the impact of global financial crisis. The primary data has been collected from 200 authorities in insurance industry. The data has been analyzed with statistical tools like MS-Excel. On the basis of the findings, various measures and policy recommendations for insurers have been suggested to minimize the impact of crisis.

scholarly journals A Decade After the Global Financial Crisis: Lessons and Policy for International Stability

2020 ◽  
Vol 11 (2) ◽  
pp. 416
Author(s):  
Anjali Karol
Keyword(s):  
Financial Crisis ◽  
Economic Integration ◽  
Global Financial Crisis ◽  
Financial Security ◽  
Policy Responses ◽  
The Great Depression ◽  
International Stability ◽  
The Global Financial Crisis ◽  
The Impact ◽  
Global Financial System

The Global Financial Crisis of 2007-09 has been the most severe global shock after the Great Depression of the 1930s. A crisis of this order has changed the outlook on international socio-economic integration and concerns on financial security and global polity. As we are a decade after the crisis, it is instinctively imperative to relook and analyse the lessons learnt and the policy responses that helped ease the crisis. This paper is an attempt in that direction. Research over the years suggests that global financial system has evolved into a more innocuous network at limited unintended costs. Globally policy regulations have tightened to lessen the impact of future crises and today most countries have some form of macro-prudential surveillance.

The Impact of Financial Crisis on the Non-Life Insurance Market in Lithuania : Will the Market Growth Expectations be Met?

2015 ◽  
Vol 10 (1) ◽  
pp. 5-18
Author(s):  
Ausrine Lakstutiene ◽  
Rasa Norvaisiene ◽  
Jurgita Stankeviciene ◽  
Rytis Krusinskas
Keyword(s):  
Financial Crisis ◽  
Life Insurance ◽  
Growth Potential ◽  
Third Party ◽  
Liability Insurance ◽  
Insurance Market ◽  
Market Growth ◽  
Insurance Sector ◽  
Market Trends ◽  
The Impact

The article analyzes the insurance market trends, which have been determined by the financial crisis, and reveals the development features and prospects of non-insurance market, which accounts for almost 70% of the total insurance market, in Lithuania. The obtained results showed that after the market shrank by a quarter in 2009, the insurance sector is recovering, and while the volume of issued insurance premiums increased in 2013, they still remain lower than during the pre-crisis period. 2010 is a distinctive year for the Lithuanian non-insurance market due to a track of unusual abundance of adverse events. Throughout the analyzed period the structure of the non-insurance market issued portfolios remained the same in Lithuania, and throughout the whole analyzed period non-insurance market is dominated by Mandatory Third Party Liability Insurance (MTPLI), Voluntary vehicle insurance (CASCO) and Property insurances, which, according to estimates and analysts' forecasts, have growth potential.

scholarly journals The Impact of Financial Crisis on Insurance Sector and the Regulatory Response

2018 ◽  
Vol 1 (1) ◽  
Author(s):  
NURUL SYUHADA BINTI ZAIDI ◽  
Nazaria Md Aris ◽  
Suzila Mohamed Yusof
Keyword(s):  
Financial Crisis ◽  
European Commission ◽  
Solvency Ii ◽  
2008 Financial Crisis ◽  
Regulatory Response ◽  
Insurance Sector ◽  
The Future ◽  
The 2008 Financial Crisis ◽  
The Impact

This paper aims to discuss what happen during the 2008 financial crisis and the reason behind it. This paper also aims to analyze the impact of the financial crisis to insurance sector and how they react. This paper also discussed the Solvency II (applied by the European Commission) as well as the Malaysian Risk-Based Capital.  Lastly, this paper also provides some observation and suggestion on how similar crisis can be avoided in the future as well as ways to improve the regulations.

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