Determinants, principles and perspectives of cooperation between the polish fi nancial supervision authority and the police in economic security and prevention of economic crime — a quest for synergies

The Polish Financial Supervision Authority (hereinafter: KNF) is the key element of the economic security system of the Polish State. By establishing the KNF, the Polish legislator applied the concept of integratedfi nancial supervision (covering bank supervision, insurance supervision and capital market supervision) located outside the central bank. The KNF has been vested with a broad mandate, including powers to supervise authorised entities. However, the scope and nature of measures available to the KNF in the prevention of economic crime are determined by the institutional position of the KNF, which has not been established as a law enforcement authority or a uniformed or special service but rather an institution engaged in the fi ght against economic crime by providing expertise, supporting other state services specialised in this area. The KNF and the Offi ce of the Polish Financial Supervision Authority (hereinafter: UKNF) actively support, among others, the police units that fi ght crime in the fi nancial market and work to increase the economic security of the Polish State. Therefore, it is imperative to ensure broad and effi cient cooperation between the police and the KNF. However, such collaboration must not be limited to relations between the institutions’ management; it should also involve, as far as possible, working and operational activities carried out at both institutions by individuals responsible for day-to-day tasks. This paper provides a closer perspective on the formal and organisational framework of said cooperation and discusses its examples.

3.I. Workshop: Getting real with future shocks: How to test health system resilience?

Resilient health systems should be able to both respond to sudden shocks and adapt to structural changes. Structural fragilities in the health systems of EU countries were present before the COVID-19 pandemic and the crisis has just exacerbated these weaknesses, along with creating acute response capacity shortages. It became clear that health systems were largely unprepared for a shock of this magnitude. In order to be better prepared and able to respond more effectively towards the next health emergency, it is important to have robust tools and methods to measure the level of resilience in health systems. The workshop will present a new concept to carry out resilience testing of health systems against potential future shocks and adverse scenarios based on the opinion of the European Commission's Expert Panel on effective ways of investing in health. This will be followed by a discussion with experts on the practical development and implementation of this methodology. Format of the workshop: Pitch on the resilience testing concept by a member of the Expert Panel on effective ways of investing in health (10 minutes) Responses by experts from three EU Member States and discussion (40 minutes) Concluding remarks by the OECD and the Observatory on Health Systems and Policies (10 minutes) Speakers/Panelists Heather L. Rogers Biocruces Bizkaia Health Research Institute, Barakaldo, Spain Lenka Poliaková Health Insurance Supervision Department, Ministry of Health, Czechia Judith de Jong NIVEL, Utrecht, Netherlands Sabrina Montante National Institute of Health of Italy, Brussels Office, Brussels, Belgium Gaetan Lafortune OECD, Paris, France

LEGAL NATURE OF LEGAL RELATIONS IN THE FIELD OF INSURANCE: ADMINISTRATIVE AND LEGAL ASPECT

On the basis of the systematic theoretical and legal analysis of scientific researches and the current legislation the legal nature of insurance which is caused by three key approaches – economic, material and legal is investigated. The economic essence of insurance is expressed through the category of monetary funds needed to cover unforeseen needs of society; the material nature of insurance is disclosed through the category of monetary funds, which are used to compensate for damage caused by natural disasters and unforeseen circumstances; the legal content of insurance is manifested through a set of rules governing economic relations related to the protection of the legitimate interests of individuals and legal entities, public entities. It is noted that insurance has all the main functions of the category of finance in financial law but in certain specific manifestations. It is stated that insurance is a complex legal institution, which includes the rules of constitutional, civil, financial, administrative, labor law, social security law, and legal relations arising in connection with insurance, which are public and private law. Imperative norms of the field of financial law have priority in the regulation of public relations, formed in the organization of insurance, implementation of compulsory insurance, licensing of insurance entities, ensuring financial stability and solvency of insurers, on the reorganization of insurance companies, in the National Bank Ukraine's regulatory powers in the areas of insurance control and insurance supervision.

Insurance And Innovative Technologies Of Risks Management Of Ukrainian Companies In The Digital Economy

It was reviewed possibilities and importance of insurance and innovative technologies of companies' risks management in the digital economy, modern threats and risks of the Ukrainian companies, which are generated in the digital economy conditions, it was identified factors that hinder the development of cyber insurance and implementation of insuretech-solutions in Ukraine, it was revealed the prerequisites for their activation and defined directions and proposed measures for their expansion, justified expediency of introduction and use of innovative technologies and methods of insurance for risks management of Ukrainian companies in the digital economy.It is proved that adaptation of the insurance market to changes related to the digitization of companies, changes in the design of insurance instruments, the introduction of digital technologies in the organization of the insurance industry and cyber insurance, will contribute to improving the quality of insurance protection and stable profitability of Ukrainian companies, stimulating the introduction of new tools, methods and insuretech solutions, diversifying the range of insurance products, improving the forms and methods of insurance supervision, and more.

THE ROLE OF PRUDENTIAL SUPERVISION IN THE FIELD OF INSURANCE SUPERVISION IN UKRAINE

The article investigates the current state of the insurance market in Ukraine and the history of its formation. The existing problems that hinder the progressive development of the market and attract investment are considered. Attention is paid to the latest legislative state regulation of financial services markets (banking and non-banking) by one regulator (NBU) and the expediency of its introduction in the non-banking financial sector and its further role. The main levers by which Ukraine will be able to obtain a financial system that meets international standards have been identified. The focus is on the provisions of the EU Solvency ll Directive and the requirements and standards set out therein. It also substantiates the feasibility of securing prudential supervision of insurers, which defines its peculiarities and mechanisms by which it operates effectively. The experience of countries that have already introduced this type of surveillance is explored. A number of significant changes have been identified, among which are the following: transparent financial statements, new standards for service provision, extension of oversight functions of the Authorized Body, etc., which will allow for the proper protection of the rights of consumers of financial services. Purpose: to analyze the international norms and standards according to which insurers operate within the European Union. Do the research on the EU Directive (Solvency ll) and the feasibility of its implementation in national legislation. The advantages and disadvantages of prudential supervision of insurers have been identified. Methods: General and specific cognition methods have been involved in the writing of the work. Historical method, comparative-legal method, system-structural analysis method and formal-logical methods have been used as the basis of the research methodology. Results: justification for the introduction of a new transparent financial reporting system in the future; the need to create a new internal insurer risk assessment system and new capital adequacy requirements. Conclusions: A number of advantages and disadvantages of current changes and further transformation of domestic legislation in the field of insurance supervision to the best international standards have been identified. It examines what changes the insurance market of Ukraine is going through and what to expect from insurers in the coming years, what costs will have to be incurred and what they will receive as a result. The focus is on protecting the rights of consumers of financial services to prevent events occurring in the insurance market more than 25 years ago.

Features of Supervision in the Insurance Market

The article is devoted to the analysis of financial and legal aspects of insurance supervision. It has been determined that with the development of insurance the extent of state regulation, including supervision of insurance activity, has increased. The paper analyzes prudential insurance supervision and the development of the risk-oriented model of supervision over the largest insurance organizations. According to the results of the research, the author concludes that insurance supervision is an integral part of the effective development of the national insurance market. Insurance supervision is carried out at all stages of activity of the insurance business participants to comply with the statutory requirements concerning insurance and to support effective development of insurance services.

Contemporary European Normative Tendencies Regarding the Essence and Typology of Insurance Contracts

In the light of different approaches to the question of regulating economic insurance law in specific legal systems, formulation of a model definition of the insurance contract, although necessary for further investigations, is merely theoretical. Specific lawmakers approach the question of specification of the content of the insurance contract at the statutory level with varying degree of consequence. Insurance relationships are a heterogeneous category, and attempts to develop uniform systematics with the use of comparative legal methods are still hindered by differences between individual legal systems. There is a lack of consistence between the distinctions adopted in private law systems and solutions characteristic of public law, which exert much influence on the market of insurance services as a part of insurance supervision.