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Systemic risk in the insurance sector : a review and directions for future research

Recurso electrónico / Electronic resource
Registro MARC
Tag12Valor
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001  MAP20160033762
003  MAP
005  20161121165922.0
008  161115e20161003usa|||p |0|||b|eng d
040  ‎$a‎MAP‎$b‎spa‎$d‎MAP
084  ‎$a‎7
100  ‎$0‎MAPA20080644529‎$a‎Eling, Martin
24510‎$a‎Systemic risk in the insurance sector‎$b‎: a review and directions for future research‎$c‎Martin Eling, David Antonius Pankoke
520  ‎$a‎This article reviews the extant research on systemic risk in the insurance sector and outlines new areas of research in this field. We summarize and classify 48 theoretical and empirical research papers from both academia and practitioner organizations. The survey reveals that traditional insurance activity in the life, nonlife, and reinsurance sectors neither contributes to systemic risk nor increases insurers¿ vulnerability to impairments of the financial system. However, nontraditional activities (e.g., credit default swap underwriting) might increase vulnerability, and life insurers might be more vulnerable than nonlife insurers due to higher leverage. Whether nontraditional activities also contribute to systemic risk is not entirely clear; however, the activities with the potential to contribute to systemic risk include underwriting financial derivatives and providing financial guarantees. This article is not only likely of interest to academics but also highly relevant for the industry, regulators, and policymakers
650 4‎$0‎MAPA20080591182‎$a‎Gerencia de riesgos
650 4‎$0‎MAPA20080586294‎$a‎Mercado de seguros
650 4‎$0‎MAPA20080590567‎$a‎Empresas de seguros
650 4‎$0‎MAPA20100016923‎$a‎Riesgo sistémico
650 4‎$0‎MAPA20080604394‎$a‎Valoración de riesgos
7001 ‎$0‎MAPA20160014099‎$a‎Pankoke, David Antonius
7730 ‎$w‎MAP20077001748‎$t‎Risk management & insurance review‎$d‎Malden, MA : The American Risk and Insurance Association by Blackwell Publishing, 1999-‎$x‎1098-1616‎$g‎03/10/2016 Tomo 19 Número 2 - 2016 , p. 249-284