000 | 03103cam a22003974a 4500 | ||
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001 | 6299 | ||
003 | The World Bank | ||
006 | m d | ||
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008 | 020129s2012 dcu i001 0 eng | ||
024 | 8 | _a10.1596/1813-9450-6299 | |
035 | _a(The World Bank)6299 | ||
100 | 1 | _aGurenko, Eugene N. | |
245 | 1 | 0 |
_aInsurance Risk Transfer and Categorization of Reinsurance Contracts _h[electronic resource] / _cEugene N. Gurenko |
260 |
_aWashington, D.C., _bThe World Bank, _c2012 |
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300 | _a1 online resource (41 p.) | ||
520 | 3 | _aDespite the existence of numerous quantitative approaches to the categorization of financial reinsurance contracts, often insurance regulators may find the practical implementation of the task to be technically challenging. This research paper develops a simple, affordable, and robust regulatory method that can help insurance regulators to categorize financial reinsurance contracts as reinsurance or financial instruments. By reviewing real examples of different categorization methods, this paper explains how the proposed method standardizes such categorization. It also summarizes the existing pertinent literature on the subject with the view to helping insurance regulators to first apply some simple indicators to flag the main issues with financial reinsurance contracts that may need further reviews. Having identified the suspicious reinsurance contracts, supervisors may consider several solutions provided by the authors and, in some cases, requiring further quantitative testing of risk transfer contracts for categorization purposes, supervisors may also consider adopting the Standardized Expected Reinsurer's Deficit approach to contract testing presented in this paper. The approach advocates the use of a simple standardized stochastic method that would allow market participants and regulators to perform robust quantitative tests quickly and at an affordable cost. Besides addressing the obvious drawbacks of the "10-10" test, the proposed alternative method allows a great reduction in the technical challenges posed to the users of the Expected Reinsurer's Deficit approach based on full stochastic models with only a minimum loss of predictive accuracy. | |
650 | 4 | _aDebt Markets | |
650 | 4 | _aFinance and Financial Sector Development | |
650 | 4 | _aFinite Reinsurance | |
650 | 4 | _aHazard Risk Management | |
650 | 4 | _aInsurance & Risk Mitigation | |
650 | 4 | _aInsurance Law | |
650 | 4 | _aInsurance Risks | |
650 | 4 | _aLabor Policies | |
650 | 4 | _aPrivate Sector Development | |
650 | 4 | _aReinsurance | |
650 | 4 | _aReinsurance Contracts Categorization | |
650 | 4 | _aRisk Transfer | |
700 | 1 | _aGurenko, Eugene N. | |
700 | 1 | _aItigin, Alexander | |
700 | 1 | _aWiechert, Renate | |
776 | 1 | 8 |
_aPrint version: _iGurenko, Eugene N. _tInsurance Risk Transfer and Categorization of Reinsurance Contracts. _dWashington, D.C. : The World Bank, 2012 |
830 | 0 | _aPolicy research working papers. | |
830 | 0 | _aWorld Bank e-Library. | |
856 | 4 | 0 | _uhttp://elibrary.worldbank.org/doi/book/10.1596/1813-9450-6299 |
999 |
_c142052 _d142052 |