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The China risk-oriented solvency system : a comparative assessment with other risk-based supervisory frameworks

Recurso electrónico / electronic resource
MARC record
Tag12Value
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001  MAP20180005077
003  MAP
005  20180326161129.0
008  180221e20180101esp|||p |0|||b|spa d
040  ‎$a‎MAP‎$b‎spa‎$d‎MAP
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24514‎$a‎The China risk-oriented solvency system‎$b‎: a comparative assessment with other risk-based supervisory frameworks‎$c‎Derrick W. H. Fung... [et al.]
520  ‎$a‎The China Risk-Oriented Solvency System (C-ROSS), the new risk-oriented regulatory framework for the Chinese insurance industry, was fully implemented at the beginning of 2016. In this paper, we identify the main features of the C-ROSS and compare its rules and standards with those of the Risk-Based Capital (RBC) system in the United States, the Solvency ll system in the European Union, and the Swiss Solvency Test (SST) in Switzerland. Using a conceptual framework proposed by Cummins et al. (J Insur Regul 11:427-447, 1994) and Holzmuller (Geneva Pap Risk Insur 34:56-77, 2009), we analyse C-ROSS according to 11 criteria and find that the system scores are substantially better than those of RBC, and more or less as good as those of the Solvency ll or SST systems. We also contrast the strengths and weaknesses of C-ROSS with those of the RBC, Solvency II and SST systems. Our analyses are of value to regulators developing risk-based supervisory frameworks, and to insurers engaging in business in any of the four geographic regions considered.
650 4‎$0‎MAPA20180004162‎$a‎C-ROSS
650 4‎$0‎MAPA20080590567‎$a‎Empresas de seguros
650 4‎$0‎MAPA20080564254‎$a‎Solvencia II
650 4‎$0‎MAPA20080593797‎$a‎Swiss Solvency Test
650 4‎$0‎MAPA20080608804‎$a‎Supervisión de seguros
650 4‎$0‎MAPA20080552701‎$a‎Solvencia
650 4‎$0‎MAPA20080584351‎$a‎Control de seguros
650 4‎$0‎MAPA20080601492‎$a‎Estudios comparativos
651 1‎$0‎MAPA20080644178‎$a‎China
7001 ‎$0‎MAPA20180003974‎$a‎Fung, Derrick W. H.
7730 ‎$w‎MAP20077100215‎$t‎Geneva papers on risk and insurance : issues and practice‎$d‎Geneva : The Geneva Association, 1976-‎$x‎1018-5895‎$g‎01/01/2018 Volumen 43 Número 1 - enero 2018 , p. 16-36