When insurers go bust: an economic analysis of the role and design of prudential regulation
Gespeichert in:
| Hauptverfasser: | , |
|---|---|
| Format: | Buch |
| Sprache: | English |
| Veröffentlicht: |
Princeton [u.a.]
Princeton Univ. Press
2007
|
| Schlagworte: | |
| Online-Zugang: | Inhaltsverzeichnis |
| Beschreibung: | VI, 101 S. graph. Darst. |
| ISBN: | 0691129355 9780691129358 |
Internformat
MARC
| LEADER | 00000nam a2200000 c 4500 | ||
|---|---|---|---|
| 001 | BV023126378 | ||
| 003 | DE-604 | ||
| 005 | 20080331 | ||
| 007 | t | ||
| 008 | 080213s2007 d||| |||| 00||| eng d | ||
| 020 | |a 0691129355 |9 0-691-12935-5 | ||
| 020 | |a 9780691129358 |9 978-0-691-12935-8 | ||
| 035 | |a (OCoLC)85248835 | ||
| 035 | |a (DE-599)BVBBV023126378 | ||
| 040 | |a DE-604 |b ger |e rakwb | ||
| 041 | 0 | |a eng | |
| 049 | |a DE-384 |a DE-19 | ||
| 050 | 0 | |a HG8111 | |
| 082 | 0 | |a 368.941 |2 22 | |
| 084 | |a QR 560 |0 (DE-625)142061: |2 rvk | ||
| 100 | 1 | |a Plantin, Guillaume |e Verfasser |4 aut | |
| 245 | 1 | 0 | |a When insurers go bust |b an economic analysis of the role and design of prudential regulation |c Guillaume Plantin ; Jean-Charles Rochet |
| 264 | 1 | |a Princeton [u.a.] |b Princeton Univ. Press |c 2007 | |
| 300 | |a VI, 101 S. |b graph. Darst. | ||
| 336 | |b txt |2 rdacontent | ||
| 337 | |b n |2 rdamedia | ||
| 338 | |b nc |2 rdacarrier | ||
| 650 | 4 | |a Insurance law |x Economic aspects | |
| 650 | 4 | |a Insurance |x State supervision | |
| 650 | 0 | 7 | |a Regulierung |0 (DE-588)4201190-5 |2 gnd |9 rswk-swf |
| 650 | 0 | 7 | |a Versicherungswirtschaft |0 (DE-588)4063206-4 |2 gnd |9 rswk-swf |
| 689 | 0 | 0 | |a Versicherungswirtschaft |0 (DE-588)4063206-4 |D s |
| 689 | 0 | 1 | |a Regulierung |0 (DE-588)4201190-5 |D s |
| 689 | 0 | |5 DE-604 | |
| 700 | 1 | |a Rochet, Jean-Charles |d 1957- |e Verfasser |0 (DE-588)120833557 |4 aut | |
| 856 | 4 | 2 | |m HBZ Datenaustausch |q application/pdf |u http://bvbr.bib-bvb.de:8991/F?func=service&doc_library=BVB01&local_base=BVB01&doc_number=016328781&sequence=000002&line_number=0001&func_code=DB_RECORDS&service_type=MEDIA |3 Inhaltsverzeichnis |
| 999 | |a oai:aleph.bib-bvb.de:BVB01-016328781 | ||
Datensatz im Suchindex
| _version_ | 1804137397885075456 |
|---|---|
| adam_text | Contents
Foreword vii
Acknowledgements viii
1 Introduction 1
2 Four Recent Cases of Financially Distressed Insurers 4
2.1 Independent Insurance Company Limited 4
2.2 Groupe des Assurances Nationales 13
2.3 Equitable Life 17
2.4 Europavie 25
2.5 Why Are Insurers Subject to Prudential
Regulation? A First Pass 27
3 The State of the Art in Prudential Regulation 29
3.1 The Main Features of Prudential Systems 29
3.2 Regulation and Ruin Theory: Controlling the
Probability of Failure 34
3.3 Conclusions 41
4 Inversion of the Production Cycle and Capital
Structure of Insurance Companies 43
4.1 Inversion of the Production Cycle in
the Insurance Industry 43
4.2 An Analogy between Insurance Capital and
Deductibles in Insurance Contracts 45
4.3 The Role of Deductibles in Insurance Contracts 47
4.4 The Role of Insurance Capital to Mitigate
Informational Problems 50
vi Contents
4.5 Conclusion: The Inversion of the Production Cycle
Creates Agency Problems That Can Be Mitigated
by Capital Requirements for Insurance Companies 53
4.6 Appendix: Capital Requirements as
an Incentive Device 54
5 Absence of a Tough Claimholder in the Financial
Structure of Insurance Companies and
Incomplete Contracts 56
5.1 Absence of a Tough Claimholder 56
5.2 Prudential Regulation and Incomplete Contracts 59
5.3 The Representation Hypothesis 61
6 How to Organize the Regulation of Insurance Companies 64
6.1 Simple Prudential Ratios 64
6.2 Double Trigger 66
6.3 An Independent but Accountable Prudential
Authority 68
6.4 Granting Control Rights to the Industry via
a Guarantee Fund 69
6.5 A Single Accounting Standard 71
6.6 Limiting the Scope of Prudential Regulation 72
6.7 What if This Is Not Enough? 73
7 The Role of Reinsurance 75
7.1 Organization of the Reinsurance Market 75
7.2 Reinsurance and Prudential Supervision 81
8 How Does Insurance Regulation Fit within Other
Financial Regulations? 83
8.1 Insurance and Financial Conglomerates 83
8.2 The Regulation of Banks and of Insurance
Companies Are Two Different Jobs 90
8.3 Insurance and Systemic Risk 93
9 Conclusion: Prudential Regulation as a Substitute for
Corporate Governance 97
References 99
|
| adam_txt |
Contents
Foreword vii
Acknowledgements viii
1 Introduction 1
2 Four Recent Cases of Financially Distressed Insurers 4
2.1 Independent Insurance Company Limited 4
2.2 Groupe des Assurances Nationales 13
2.3 Equitable Life 17
2.4 Europavie 25
2.5 Why Are Insurers Subject to Prudential
Regulation? A First Pass 27
3 The State of the Art in Prudential Regulation 29
3.1 The Main Features of Prudential Systems 29
3.2 Regulation and Ruin Theory: Controlling the
Probability of Failure 34
3.3 Conclusions 41
4 Inversion of the Production Cycle and Capital
Structure of Insurance Companies 43
4.1 Inversion of the Production Cycle in
the Insurance Industry 43
4.2 An Analogy between Insurance Capital and
Deductibles in Insurance Contracts 45
4.3 The Role of Deductibles in Insurance Contracts 47
4.4 The Role of Insurance Capital to Mitigate
Informational Problems 50
vi Contents
4.5 Conclusion: The Inversion of the Production Cycle
Creates Agency Problems That Can Be Mitigated
by Capital Requirements for Insurance Companies 53
4.6 Appendix: Capital Requirements as
an Incentive Device 54
5 Absence of a Tough Claimholder in the Financial
Structure of Insurance Companies and
Incomplete Contracts 56
5.1 Absence of a Tough Claimholder 56
5.2 Prudential Regulation and Incomplete Contracts 59
5.3 The "Representation Hypothesis" 61
6 How to Organize the Regulation of Insurance Companies 64
6.1 Simple Prudential Ratios 64
6.2 "Double Trigger" 66
6.3 An Independent but Accountable Prudential
Authority 68
6.4 Granting Control Rights to the Industry via
a Guarantee Fund 69
6.5 A Single Accounting Standard 71
6.6 Limiting the Scope of Prudential Regulation 72
6.7 What if This Is Not Enough? 73
7 The Role of Reinsurance 75
7.1 Organization of the Reinsurance Market 75
7.2 Reinsurance and Prudential Supervision 81
8 How Does Insurance Regulation Fit within Other
Financial Regulations? 83
8.1 Insurance and Financial Conglomerates 83
8.2 The Regulation of Banks and of Insurance
Companies Are Two Different Jobs 90
8.3 Insurance and Systemic Risk 93
9 Conclusion: Prudential Regulation as a Substitute for
Corporate Governance 97
References 99 |
| any_adam_object | 1 |
| any_adam_object_boolean | 1 |
| author | Plantin, Guillaume Rochet, Jean-Charles 1957- |
| author_GND | (DE-588)120833557 |
| author_facet | Plantin, Guillaume Rochet, Jean-Charles 1957- |
| author_role | aut aut |
| author_sort | Plantin, Guillaume |
| author_variant | g p gp j c r jcr |
| building | Verbundindex |
| bvnumber | BV023126378 |
| callnumber-first | H - Social Science |
| callnumber-label | HG8111 |
| callnumber-raw | HG8111 |
| callnumber-search | HG8111 |
| callnumber-sort | HG 48111 |
| callnumber-subject | HG - Finance |
| classification_rvk | QR 560 |
| ctrlnum | (OCoLC)85248835 (DE-599)BVBBV023126378 |
| dewey-full | 368.941 |
| dewey-hundreds | 300 - Social sciences |
| dewey-ones | 368 - Insurance |
| dewey-raw | 368.941 |
| dewey-search | 368.941 |
| dewey-sort | 3368.941 |
| dewey-tens | 360 - Social problems and services; associations |
| discipline | Wirtschaftswissenschaften |
| discipline_str_mv | Wirtschaftswissenschaften |
| format | Book |
| fullrecord | <?xml version="1.0" encoding="UTF-8"?><collection xmlns="http://www.loc.gov/MARC21/slim"><record><leader>01644nam a2200409 c 4500</leader><controlfield tag="001">BV023126378</controlfield><controlfield tag="003">DE-604</controlfield><controlfield tag="005">20080331 </controlfield><controlfield tag="007">t</controlfield><controlfield tag="008">080213s2007 d||| |||| 00||| eng d</controlfield><datafield tag="020" ind1=" " ind2=" "><subfield code="a">0691129355</subfield><subfield code="9">0-691-12935-5</subfield></datafield><datafield tag="020" ind1=" " ind2=" "><subfield code="a">9780691129358</subfield><subfield code="9">978-0-691-12935-8</subfield></datafield><datafield tag="035" ind1=" " ind2=" "><subfield code="a">(OCoLC)85248835</subfield></datafield><datafield tag="035" ind1=" " ind2=" "><subfield code="a">(DE-599)BVBBV023126378</subfield></datafield><datafield tag="040" ind1=" " ind2=" "><subfield code="a">DE-604</subfield><subfield code="b">ger</subfield><subfield code="e">rakwb</subfield></datafield><datafield tag="041" ind1="0" ind2=" "><subfield code="a">eng</subfield></datafield><datafield tag="049" ind1=" " ind2=" "><subfield code="a">DE-384</subfield><subfield code="a">DE-19</subfield></datafield><datafield tag="050" ind1=" " ind2="0"><subfield code="a">HG8111</subfield></datafield><datafield tag="082" ind1="0" ind2=" "><subfield code="a">368.941</subfield><subfield code="2">22</subfield></datafield><datafield tag="084" ind1=" " ind2=" "><subfield code="a">QR 560</subfield><subfield code="0">(DE-625)142061:</subfield><subfield code="2">rvk</subfield></datafield><datafield tag="100" ind1="1" ind2=" "><subfield code="a">Plantin, Guillaume</subfield><subfield code="e">Verfasser</subfield><subfield code="4">aut</subfield></datafield><datafield tag="245" ind1="1" ind2="0"><subfield code="a">When insurers go bust</subfield><subfield code="b">an economic analysis of the role and design of prudential regulation</subfield><subfield code="c">Guillaume Plantin ; Jean-Charles Rochet</subfield></datafield><datafield tag="264" ind1=" " ind2="1"><subfield code="a">Princeton [u.a.]</subfield><subfield code="b">Princeton Univ. Press</subfield><subfield code="c">2007</subfield></datafield><datafield tag="300" ind1=" " ind2=" "><subfield code="a">VI, 101 S.</subfield><subfield code="b">graph. Darst.</subfield></datafield><datafield tag="336" ind1=" " ind2=" "><subfield code="b">txt</subfield><subfield code="2">rdacontent</subfield></datafield><datafield tag="337" ind1=" " ind2=" "><subfield code="b">n</subfield><subfield code="2">rdamedia</subfield></datafield><datafield tag="338" ind1=" " ind2=" "><subfield code="b">nc</subfield><subfield code="2">rdacarrier</subfield></datafield><datafield tag="650" ind1=" " ind2="4"><subfield code="a">Insurance law</subfield><subfield code="x">Economic aspects</subfield></datafield><datafield tag="650" ind1=" " ind2="4"><subfield code="a">Insurance</subfield><subfield code="x">State supervision</subfield></datafield><datafield tag="650" ind1="0" ind2="7"><subfield code="a">Regulierung</subfield><subfield code="0">(DE-588)4201190-5</subfield><subfield code="2">gnd</subfield><subfield code="9">rswk-swf</subfield></datafield><datafield tag="650" ind1="0" ind2="7"><subfield code="a">Versicherungswirtschaft</subfield><subfield code="0">(DE-588)4063206-4</subfield><subfield code="2">gnd</subfield><subfield code="9">rswk-swf</subfield></datafield><datafield tag="689" ind1="0" ind2="0"><subfield code="a">Versicherungswirtschaft</subfield><subfield code="0">(DE-588)4063206-4</subfield><subfield code="D">s</subfield></datafield><datafield tag="689" ind1="0" ind2="1"><subfield code="a">Regulierung</subfield><subfield code="0">(DE-588)4201190-5</subfield><subfield code="D">s</subfield></datafield><datafield tag="689" ind1="0" ind2=" "><subfield code="5">DE-604</subfield></datafield><datafield tag="700" ind1="1" ind2=" "><subfield code="a">Rochet, Jean-Charles</subfield><subfield code="d">1957-</subfield><subfield code="e">Verfasser</subfield><subfield code="0">(DE-588)120833557</subfield><subfield code="4">aut</subfield></datafield><datafield tag="856" ind1="4" ind2="2"><subfield code="m">HBZ Datenaustausch</subfield><subfield code="q">application/pdf</subfield><subfield code="u">http://bvbr.bib-bvb.de:8991/F?func=service&doc_library=BVB01&local_base=BVB01&doc_number=016328781&sequence=000002&line_number=0001&func_code=DB_RECORDS&service_type=MEDIA</subfield><subfield code="3">Inhaltsverzeichnis</subfield></datafield><datafield tag="999" ind1=" " ind2=" "><subfield code="a">oai:aleph.bib-bvb.de:BVB01-016328781</subfield></datafield></record></collection> |
| id | DE-604.BV023126378 |
| illustrated | Illustrated |
| index_date | 2024-07-02T19:53:37Z |
| indexdate | 2024-07-09T21:11:39Z |
| institution | BVB |
| isbn | 0691129355 9780691129358 |
| language | English |
| oai_aleph_id | oai:aleph.bib-bvb.de:BVB01-016328781 |
| oclc_num | 85248835 |
| open_access_boolean | |
| owner | DE-384 DE-19 DE-BY-UBM |
| owner_facet | DE-384 DE-19 DE-BY-UBM |
| physical | VI, 101 S. graph. Darst. |
| publishDate | 2007 |
| publishDateSearch | 2007 |
| publishDateSort | 2007 |
| publisher | Princeton Univ. Press |
| record_format | marc |
| spelling | Plantin, Guillaume Verfasser aut When insurers go bust an economic analysis of the role and design of prudential regulation Guillaume Plantin ; Jean-Charles Rochet Princeton [u.a.] Princeton Univ. Press 2007 VI, 101 S. graph. Darst. txt rdacontent n rdamedia nc rdacarrier Insurance law Economic aspects Insurance State supervision Regulierung (DE-588)4201190-5 gnd rswk-swf Versicherungswirtschaft (DE-588)4063206-4 gnd rswk-swf Versicherungswirtschaft (DE-588)4063206-4 s Regulierung (DE-588)4201190-5 s DE-604 Rochet, Jean-Charles 1957- Verfasser (DE-588)120833557 aut HBZ Datenaustausch application/pdf http://bvbr.bib-bvb.de:8991/F?func=service&doc_library=BVB01&local_base=BVB01&doc_number=016328781&sequence=000002&line_number=0001&func_code=DB_RECORDS&service_type=MEDIA Inhaltsverzeichnis |
| spellingShingle | Plantin, Guillaume Rochet, Jean-Charles 1957- When insurers go bust an economic analysis of the role and design of prudential regulation Insurance law Economic aspects Insurance State supervision Regulierung (DE-588)4201190-5 gnd Versicherungswirtschaft (DE-588)4063206-4 gnd |
| subject_GND | (DE-588)4201190-5 (DE-588)4063206-4 |
| title | When insurers go bust an economic analysis of the role and design of prudential regulation |
| title_auth | When insurers go bust an economic analysis of the role and design of prudential regulation |
| title_exact_search | When insurers go bust an economic analysis of the role and design of prudential regulation |
| title_exact_search_txtP | When insurers go bust an economic analysis of the role and design of prudential regulation |
| title_full | When insurers go bust an economic analysis of the role and design of prudential regulation Guillaume Plantin ; Jean-Charles Rochet |
| title_fullStr | When insurers go bust an economic analysis of the role and design of prudential regulation Guillaume Plantin ; Jean-Charles Rochet |
| title_full_unstemmed | When insurers go bust an economic analysis of the role and design of prudential regulation Guillaume Plantin ; Jean-Charles Rochet |
| title_short | When insurers go bust |
| title_sort | when insurers go bust an economic analysis of the role and design of prudential regulation |
| title_sub | an economic analysis of the role and design of prudential regulation |
| topic | Insurance law Economic aspects Insurance State supervision Regulierung (DE-588)4201190-5 gnd Versicherungswirtschaft (DE-588)4063206-4 gnd |
| topic_facet | Insurance law Economic aspects Insurance State supervision Regulierung Versicherungswirtschaft |
| url | http://bvbr.bib-bvb.de:8991/F?func=service&doc_library=BVB01&local_base=BVB01&doc_number=016328781&sequence=000002&line_number=0001&func_code=DB_RECORDS&service_type=MEDIA |
| work_keys_str_mv | AT plantinguillaume wheninsurersgobustaneconomicanalysisoftheroleanddesignofprudentialregulation AT rochetjeancharles wheninsurersgobustaneconomicanalysisoftheroleanddesignofprudentialregulation |