Abstract
Exact details of laws regulating insurance companies may vary from country to country, but they typically follow the same pattern. First, legislators prescribe a licensing system controlling access to the national insurance market. Usually unlicensed insurers are also forbidden from transacting business. Secondly, the regulatory authority is given special powers to enable it to monitor the trading activities of licensed insurers. The more important of these ‘ongoing’ regulatory powers usually takes the form of financial and accounting requirements. The licensing and control of insurance companies are discussed in detail later on, but first a short rationale for the general regulation of insurance companies is necessary.
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References and recommended reading
Carter, R.L. (ed.), (1973) Handbook of Insurance (Brentford, Middlesex: Kluwer Publishing Limited), (continuously updated).
Ellis, T.H. (1980) European Integration and Insurance (London: Witherby & Co Ltd).
Ellis, T.H. and J.A. Wiltshire (1986) Regulation of Insurance in the UK and Ireland (Brentford, Middlesex: Kluwer Publishing Limited), (continuously updated).
Kimball, S.L. and W. Pfennigstorf (1981) Regulation of Insurance Companies in the US and the European Communities: A Comparative Study (International Insurance Advisory Council, Chamber of Commerce of the United States).
Mathewson, G., R. Wither, C. Campbell and T. Gussman (1983) Regulation of Canadian Life Insurance Market: Some Issues Affecting Consumers (Ottawa: Canadian Bureau of Consumer and Corporate Affairs).
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© 1990 Stephen Diacon
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Ellis, H. (1990). Government Regulation of Insurance Companies. In: Diacon, S. (eds) A Guide to Insurance Management. Palgrave Macmillan, London. https://doi.org/10.1007/978-1-349-07495-2_17
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DOI: https://doi.org/10.1007/978-1-349-07495-2_17
Publisher Name: Palgrave Macmillan, London
Print ISBN: 978-1-349-07497-6
Online ISBN: 978-1-349-07495-2
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