Publication:
Establishing Efficient and Effective Insurance Guarantee Schemes

Simple item page
dc.contributor.authorWorld Bank
dc.date.accessioned2023-12-14T17:46:48Z
dc.date.available2023-12-14T17:46:48Z
dc.date.issued2023-12-14
dc.description.abstractA well-developed efficient insurance sector plays an important role in any economy. This role is supported by effective regulation and supervision with the aim of having a sound insurance sector that is growing, offering adequate covers, contributing to employment and investment, ensuring reduced exposure to poverty, and increasing shared prosperity. These objectives go beyond merely protecting the interests of policyholders. They recognize that the insurance sector plays a much larger role in the economy, even for those who are not policyholders or beneficiaries. Failure of insurers can undermine these objectives. Failure events might best be defined broadly and from a consumer perspective rather than through a literal analysis of a legal definition. It is clear that such events could have an adverse impact on both the policyholders and beneficiaries directly involved as well as the broader market. As a result, the insurance sector maintains a high level of resilient providers with a well-developed system catering to orderly resolution. It is also noted that politics can add to the challenges of managing an insurer failure. Media and local politics can lead to significant pressure either regionally or nationally. While the normal activity of dealing with a crisis event is drawing heavily on the resources of the supervisory authorities, this additional layer of activity is usually not trivial. In some situations, political engagement is needed to secure the necessary mechanisms for resolution. Given the variety of actual situations that arise, it is often the case that politicians need to be engaged in the solution.en
dc.identifierhttp://documents.worldbank.org/curated/en/099430211232354829/IDU0b2120e4c0526d04e230bc33080f72ecc37f7
dc.identifier.doi10.1596/40742
dc.identifier.urihttps://openknowledge.worldbank.org/handle/10986/40742
dc.languageEnglish
dc.language.isoen_US
dc.publisherWashington, DC: World Bank
dc.rightsCC BY-NC 3.0 IGO
dc.rights.holderWorld Bank
dc.rights.urihttps://creativecommons.org/licenses/by-nc/3.0/igo
dc.subjectINSURANCE GUARANTEE SCHEMES
dc.subjectLIQUIDATION PROCESS
dc.subjectRESOLUTION REGIME
dc.titleEstablishing Efficient and Effective Insurance Guarantee Schemesen
dc.typeReport
dspace.entity.typePublication
okr.crossref.titleEstablishing Efficient and Effective Insurance Guarantee Schemes
okr.date.disclosure2023-12-14
okr.date.lastmodified2023-11-24T00:00:00Zen
okr.doctypeEconomic & Sector Work
okr.docurlhttp://documents.worldbank.org/curated/en/099430211232354829/IDU0b2120e4c0526d04e230bc33080f72ecc37f7
okr.guid099430211232354829
okr.identifier.docmidIDU-b2120e4c-526d-4e23-bc33-80f72ecc37f7
okr.identifier.doihttp://dx.doi.org/10.1596/40742
okr.identifier.externaldocumentum34201988
okr.identifier.internaldocumentum34201988
okr.identifier.report186009
okr.import.id2576
okr.importedtrueen
okr.language.supporteden
okr.pdfurlhttp://documents.worldbank.org/curated/en/099430211232354829/pdf/IDU0b2120e4c0526d04e230bc33080f72ecc37f7.pdfen
okr.region.geographicalWorld
okr.topicFinance and Financial Sector Development::Insurance & Risk Mitigation
okr.unitEFI-EAP-FCI-Finance-1 (EEAF1)
Files
Original bundle
Now showing 1 - 2 of 2
Thumbnail Image
Name:
IDU0b2120e4c0526d04e230bc33080f72ecc37f7.pdf
Size:
281.08 KB
Format:
Adobe Portable Document Format
Download
No Thumbnail Available
Name:
IDU0b2120e4c0526d04e230bc33080f72ecc37f7.txt
Size:
112.99 KB
Format:
Plain Text
Download
License bundle
Now showing 1 - 1 of 1
No Thumbnail Available
Name:
license.txt
Size:
1.71 KB
Format:
Plain Text
Description:
Download
Collections
Other ESW Reports