When Insurers Go Bust: An Economic Analysis of the Role and Design of Prudential Regulation
Gespeichert in:
| 1. Verfasser: | |
|---|---|
| Format: | Elektronisch E-Book |
| Sprache: | English |
| Veröffentlicht: |
Princeton, N.J.
Princeton University Press
2007
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| Schlagworte: | |
| Online-Zugang: | FAB01 FAW01 FCO01 FHA01 FKE01 FLA01 UBG01 UPA01 Volltext Volltext |
| Beschreibung: | Main description: In the 1990s, large insurance companies failed in virtually every major market, prompting a fierce and ongoing debate about how to better protect policyholders. Drawing lessons from the failures of four insurance companies, When Insurers Go Bust dramatically advances this debate by arguing that the current approach to insurance regulation should be replaced with mechanisms that replicate the governance of non-financial firms. Rather than immediately addressing the minutiae of supervision, Guillaume Plantin and Jean-Charles Rochet first identify a fundamental economic rationale for supervising the solvency of insurance companies: policyholders are the "bankers" of insurance companies. But because policyholders are too dispersed to effectively monitor insurers, it might be efficient to delegate monitoring to an institution--a prudential authority. Applying recent developments in corporate finance theory and the economic theory of organizations, the authors describe in practical terms how such authorities could be created and given the incentives to behave exactly like bankers behave toward borrowers, as "tough" claimholders |
| Beschreibung: | 1 Online-Ressource (112 S.) |
| ISBN: | 9781400827770 |
| DOI: | 10.1515/9781400827770 |
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Datensatz im Suchindex
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| author | Rochet, Jean-Charles |
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| isbn | 9781400827770 |
| language | English |
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| spelling | Rochet, Jean-Charles Verfasser aut When Insurers Go Bust An Economic Analysis of the Role and Design of Prudential Regulation Princeton, N.J. Princeton University Press 2007 1 Online-Ressource (112 S.) txt rdacontent c rdamedia cr rdacarrier Main description: In the 1990s, large insurance companies failed in virtually every major market, prompting a fierce and ongoing debate about how to better protect policyholders. Drawing lessons from the failures of four insurance companies, When Insurers Go Bust dramatically advances this debate by arguing that the current approach to insurance regulation should be replaced with mechanisms that replicate the governance of non-financial firms. Rather than immediately addressing the minutiae of supervision, Guillaume Plantin and Jean-Charles Rochet first identify a fundamental economic rationale for supervising the solvency of insurance companies: policyholders are the "bankers" of insurance companies. But because policyholders are too dispersed to effectively monitor insurers, it might be efficient to delegate monitoring to an institution--a prudential authority. Applying recent developments in corporate finance theory and the economic theory of organizations, the authors describe in practical terms how such authorities could be created and given the incentives to behave exactly like bankers behave toward borrowers, as "tough" claimholders 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 1\p DE-604 Plantin, Guillaume Sonstige oth Shin, Hyun Song Sonstige oth https://doi.org/10.1515/9781400827770 Verlag Volltext http://www.degruyter.com/search?f_0=isbnissn&q_0=9781400827770&searchTitles=true Verlag Volltext 1\p cgwrk 20201028 DE-101 https://d-nb.info/provenance/plan#cgwrk |
| spellingShingle | Rochet, Jean-Charles When Insurers Go Bust An Economic Analysis of the Role and Design of Prudential Regulation 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_full | When Insurers Go Bust An Economic Analysis of the Role and Design of Prudential Regulation |
| title_fullStr | When Insurers Go Bust An Economic Analysis of the Role and Design of Prudential Regulation |
| title_full_unstemmed | When Insurers Go Bust An Economic Analysis of the Role and Design of Prudential Regulation |
| 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 | Regulierung (DE-588)4201190-5 gnd Versicherungswirtschaft (DE-588)4063206-4 gnd |
| topic_facet | Regulierung Versicherungswirtschaft |
| url | https://doi.org/10.1515/9781400827770 http://www.degruyter.com/search?f_0=isbnissn&q_0=9781400827770&searchTitles=true |
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