Economics, Econometrics and Finance
8 years ago

Government supervision crucial for ensuring insurance companies protect customers' interests.

Journal of Risk & Insurance
Capital Markets and the Supervision of Insurance Companies
Karl Borch

Paper Summary

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Insurance companies need large reserves to provide security, which they get from investors in the market. Government supervision ensures companies have enough reserves and can charge premiums to make profits. Different countries have varying levels of supervision, with the main goal being to protect insurance buyers. Some countries also aim to control insurance companies as financial institutions, which can lead to conflicts of interest in investment policies.