Insurance Market Development

Document Outline

• Contents
• 1. Introduction
• 2. Insurance and Its Role
  • • Insurance and Economic Activity
  • INSURANCE AND
  • CAPITAL MARKETS
  • INSURER RISKS
    • • • Although the primary purpose of insurance is to meet claims at all times, insurers are exposed to a number of risks. Solvency risks are either technical or related to investment. Technical risks are of two types: underpricing and underprovision. Underpri
  • INSURANCE, REGULATION, AND SUPERVISION
• 3. Literature Review
  • THE ROLE OF INSURANCE IN
  • ECONOMIC GROWTH
  • AND ACTIVITY
  • THE ROLE OF INSURANCE IN
  • FINANCIAL INTERMEDIATION AND DOMESTIC CAPITAL MARKETS
  • RELEVANT FACTORS FOR
  • INSURANCE DEVELOPMENT
  • DEFINING EFFECTIVENESS
  • IN INSURANCE MARKETS
  • REVIEW OF STUDY METHODOLOGY
• 4. The Importance of Insurance in
• Latin America and the Caribbean
• 5. Survey Results
  • • Institutional Setting: Legal/ Judicial System
      • Increase in the availability of financial instruments in capital markets. Needs improvements = 68%
    • Data Collection by Type of Agency and Type of Data
    • Education: Training and Use of Actuaries
    • Strength of the Regulatory Framework
    • Strength of Supervisory Practices
    • Resources Available to the Supervisor
    • Financial and Capital Markets
    • Future and Historic Solvency Threats to the Market
    • Defining Characteristics of Industry Practices
    • Consumers or Users of Insurance
    • Collaboration Between Industry and Supervisor
    • Contribution of Insurance to Economic Development
• 6. Conclusions
• Bibliography