Pierpaolo Marano - Böcker

This comprehensive Commentary explains the objectives of the Insurance Recovery and Resolution Directive (IRRD) and its crisis management structure as applicable to the EU (re)insurance sector. It provides an in-depth discussion of the mechanisms and tools that Member States will be required to implement, outlining the fundamental considerations for the transposition and practical application of individual provisions. Key Features:Identifies potential challenges, regulatory gaps, and emerging national issuesEquips the reader with a thorough understanding of recovery and resolution planning and executionOffers practical explanations and suggestions in relation to crisis management in the (re)insurance marketExplores the way in which the IRRD is to be applied and its potential to reshape supervisory expectations, corporate accountability, and strategic planning in the insurance sectorDraws comparisons with other regulatory regimes – such as the EU banking recovery and resolution framework - to highlight cross-sectoral insights and demonstrate how the IRRD fits into the broader regulatory agenda for financial resilience in the EUWritten by experts in the field and combining rigorous legal analysis with practical observations, this Commentary is a vital resource for national authorities responsible for implementing the IRRD, as well as financial safety-net institutions such as supervisory authorities, resolution bodies, guarantee schemes, and central banks. It also offers accessible guidance to a wide professional audience, including insurance practitioners, legal advisors, compliance officers, consultants, and scholars interested in financial regulation, governance, and risk management.

Contemporary Issues in Economic and Financial Analysis 99 includes fourteen studies on contemporary issues within governance and regulations by authors invited from various universities and institutions. The chapters are a mix of discussion-based studies and empirical research studies aimed at understanding particular aspects of governance and regulations. Some refer to a particular country—specifically Malta, Indonesia, and India—and others are more generic and/or European-focused. These chapters include studies of the following: the challenges of corporate governance in small family-owned firms; a credit institution's perspective for managing conduct risk in the boardroom; the implications of the regulation and governance of financial advice in Europe for the retail financial advice sector and its consumers; the barriers to the development of Maltese cooperatives; corporate governance and cash holdings in Indian firms; whether good governance fosters trust in the government; the impact of takeover bids on European law and corporate governance; the developments and outcomes of the reform of the doctrine of “utmost good faith” in the UK; whether corporate decisions in Indonesia are a result of corporate governance requirements; earning management and audit reports; the European deposit insurance scheme; product intervention of supervisory authorities in financial services; the teaching of financial services regulation; how to link the human element to the risk management process, which is one of the internal control processes in governance of an organisation; and whether the transparency regime on the financial institutions market really works.

Big Data Analytics in the Insurance Market is an industry-specific guide to creating operational effectiveness, managing risk, improving financials, and retaining customers. This book will be a 'must' for people seeking to broaden their knowledge of big data concepts and their real-world applications, particularly in the field of insurance.The insurance industry is largely dependent on data, and the advent of Big Data and analytics represents a major advance with tremendous potential. Yet clear, practical advice on the business side of analytics is lacking. This book fills the void with concrete information on using Big Data in the context of day-to-day insurance operations and strategy.This book an invaluable resource for any insurance professional from practitioners and policymakers working at insurance companies, to undergraduate and graduate students of economics management, and finance.Providing high quality academic research, ESFIRM provides a platform for authors to explore, analyse and discuss current and new financial models and theories, and engage with innovative research on an international scale.

The book addresses a topic at the intersection of two heavily regulated sectors: insurance and investment services. Until recently, scholars and professionals have approached insurance and investment services as two separate categories in the financial services sector, and as being governed by separate regulatory frameworks. In practice, however, the boundaries were and are blurred, a reality that regulators have begun to recognize and address in their more recent regulatory texts.The first part of the book approaches the new standards applicable to investment products based on insurance: insurance-based investment products (IBIPs). These rules are harmonized across the EU. The rationale behind this new definition is provided, together with a description of these products’ limitations. The analysis addresses the new rules and explores the legal regime and relevant standards applicable to IBIPs. The organizational rules concerning the design and distribution of IBIPsare also examined, and the book highlights e.g. how these rules are inspired by the principles of conduct. In closing, the ADR systems are analysed, in order to ascertain whether or not they can offer an effective tool for settling disputes over these products.In turn, the second part focuses on the liability for distribution of IBIPs, which ranks as one of the most conspicuous and relatively new legal phenomena, but at the same time, represents an exceptionally important field of civil liability in today’s world. Liability is still regulated at the national level. Thus, the four largest life insurance markets in the EU are considered, along with the largest emerging market for life insurance. The chapters on national laws also consider whether, and if so, how the new harmonized rules on IBIPs are being combined with those already in force in the jurisdictions considered. The goal is to determine whether the new rules are likely to change the doctrine and case law approach tothese products, or whether the European legislators’ choices have no real impact on the protection of clients.

This Volume of the AIDA Europe Research Series on Insurance Law and Regulation explores the key trends in InsurTech and the potential legal and regulatory issues that accompany them. The second part then gathers contributions on insurance contract law in a digitalized world, while the third part focuses on cyber insurance and robots.

This Volume of the AIDA Europe Research Series on Insurance Law and Regulation explores the key trends in InsurTech and the potential legal and regulatory issues that accompany them. The second part then gathers contributions on insurance contract law in a digitalized world, while the third part focuses on cyber insurance and robots.

Each chapter reviews the transparency principles applicable in the jurisdiction discussed.Whether expressly or impliedly, all jurisdictions recognize a duty on the part of the insured to make a fair presentation of the risk when submitting a proposal for cover to the insurers, although there is little consensus on the scope of that duty.

Each chapter reviews the transparency principles applicable in the jurisdiction discussed.Whether expressly or impliedly, all jurisdictions recognize a duty on the part of the insured to make a fair presentation of the risk when submitting a proposal for cover to the insurers, although there is little consensus on the scope of that duty.

This open access volume of the AIDA Europe Research Series on Insurance Law and Regulation offers the first comprehensive legal and regulatory analysis of the Insurance Distribution Directive (IDD).

This open access volume of the AIDA Europe Research Series on Insurance Law and Regulation offers the first comprehensive legal and regulatory analysis of the Insurance Distribution Directive (IDD).

This volume focuses on transparency as the guiding principle for insurance regulation and supervisory law. While the European jurisdictions reflect different facets of the principle as emerging from EU law on insurance, the principle has developed quite differently in other jurisdictions.

This volume focuses on transparency as the guiding principle for insurance regulation and supervisory law. While the European jurisdictions reflect different facets of the principle as emerging from EU law on insurance, the principle has developed quite differently in other jurisdictions.

This open access volume of the AIDA Europe Research Series on Insurance Law and Regulation brings together contributions from authors with different legal cultures. It aims to identify the legal issues that arise from the intersection of two disciplines: insurance law and corporate/company law.

This open access volume of the AIDA Europe Research Series on Insurance Law and Regulation brings together contributions from authors with different legal cultures. It aims to identify the legal issues that arise from the intersection of two disciplines: insurance law and corporate/company law.

This open access book focuses on the regulatory framework for the sustainability of the insurance market. Finally, the book turns to sustainability and insurance products, addressing agricultural insurance systems and pensions. The book is aimed at academics, policymakers, and professionals in the insurance sector.

The first book to address cross-border insurance cases from the perspective of European Union regulations, international conventions, and national laws applicable to insurance and insurance-related issues, it explores the concept of cross-border insurance issues and specific institutions related to insurance matters.

This book provides a comprehensive analysis of jurisdiction and law applicable in cross-border insurance matters. The first book to address cross-border insurance cases from the perspective of European Union regulations, international conventions, and national laws applicable to insurance and insurance-related issues, it explores the concept of cross-border insurance issues and specific institutions related to insurance matters. In the process, it covers both classic private international law matters and specific issues, such as autonomous vehicles in cross-border cases, new technologies, and the Insurance Distribution Directive (IDD).Given its focus, the book offers a valuable asset for academics, judges, legal practitioners and insurance companies, and other institutions frequently dealing with cross-border insurance matters.

This open access book offers a forward-looking analysis of how digital disruption and cross-border dynamics are reshaping insurance law. Further, it shares legal and regulatory insights into the challenges posed by new technologies and evolving market structures. The first section explores digital realities—from insurance in the metaverse and robo-advisers to blockchain-based duties and the role of copyright law in digital distribution. In turn, the second section discusses jurisdictional and cross-border issues, including barriers to life insurance passporting, fairness in group insurance, broker cooperation, and the influence of EU soft law on national markets. These topics are highly relevant, as they reflect the real-world pressures on legal systems to adapt to innovation while maintaining fairness, accountability, and coherence.The book addresses the regulatory and legal gaps emerging from this transformation, helping readers navigate the resulting complexities and uncertainties. Given its scope, it will be of interest to legal scholars, regulators, practitioners, and advanced students in the fields of insurance law, financial regulation, and digital governance.

This book adopts an international perspective to examine how the online sale of insurance challenges the insurance regulation and the insurance contract, with a focus on insurance sales, consumer protection, cyber risks and privacy, as well as dispute resolution. Today insurers, policyholders, intermediaries and regulators interact in an increasingly online world with profound implications for what has up to now been a traditionally operating industry. While the growing threats to consumer and business data from cyber attacks constitute major sources of risk for insurers, at the same time cyber insurance has become the fastest growing commercial insurance product in many jurisdictions.Scholars and practitioners from Europe, the United States and Asia review these topics from the viewpoints of insurers, policyholders and insurance intermediaries. In some cases, existing insurance regulations appear readily adaptable to the online world, such as prohibitions on deceptive marketing of insurance products and unfair commercial practices, which can be applied to advertising through social media, such as Facebook and Twitter, as well as to traditional written material. In other areas, current regulatory and business practices are proving to be inadequate to the task and new ones are emerging.  For example, the insurance industry and insurance supervisors are exploring how to review, utilize, profit from and regulate the explosive growth of data mining and predictive analytics (“big data”), which threaten long-standing privacy protection and insurance risk classification laws.This book’s ambitious international scope matches its topics. The online insurance market is cross-territorial and cross-jurisdictional with insurers often operating internationally and as part of larger financial-services holding companies.  The authors’ exploration of these issues from the vantage points of some of the world’s largest insurance markets – the U.S., Europe and Japan – provides a comparative framework, which is necessary for the understanding of online insurance.

They outline the European insurance market before going on to show how Solvency II and Insurance Distribution Directive (IDD) are expected to generate significant benefits and have a positive impact on all parties involved in the insurance industry, the supervisory authorities and the insured.

This book adopts an international perspective to examine how the online sale of insurance challenges the insurance regulation and the insurance contract, with a focus on insurance sales, consumer protection, cyber risks and privacy, as well as dispute resolution.