Policy Issues In Insurance Insurance In The Baltic Countries

This book contains papers presenting overviews of various aspects of the Baltic insurance market along with papers examining specific policy issues.

Reform of the pension regime and developments in the insurance market and its regulation are continually evolving in the Baltic countries, and will surely continue to be a priority on the political agenda in coming years. The OECD has been monitoring and analysing these changes in the framework of the Baltic Regional Programme that is administered by the Centre for Co-operation with Non-Members (CCNM). The aim of this project, which also includes a private pensions publication, is to provide Baltic policy makers and market players with accurate analysis on their insurance and pension markets and assist them in drafting or improving their regulatory and supervisory frameworks. This publication contains individual country reports, with comparative analysis from a regional perspective, and examines key policy issues in the private pension and insurance sectors. A companion volume to this book is Pension Reform in the Baltic Countries (Private Pensions Series No.5) (OECD Website)

This volume contains an in-depth analysis of the assessment, management and compensation of the so-called "expanding systemic risks", to which market players and insurers are exposed.

This book examines the challenges for the life insurance sector in Europe arising from new technologies, socio-cultural and demographic trends, and the financial crisis. It presents theoretical and applied research in all areas related to life insurance products and markets, and explores future determinants of the insurance industry’s development by highlighting novel solutions in insurance supervision and trends in consumer protection. Drawing on their academic and practical expertise, the contributors identify problems relating to risk analysis and evaluation, demographic challenges, consumer protection, product distribution, mortality risk modeling, applications of life insurance in contemporary pension systems, financial stability and solvency of life insurers. They also examine the impact of population aging on life insurance markets and the role of digitalization. Lastly, based on an analysis of early experiences with the implementation of the Solvency II system, the book provides policy recommendations for the development of life insurance in Europe.

From the increasing incidence of environmental pollution and soil contamination, to recurring natural disasters, the risks posed by the constant interaction between human activities and the environment are diverse, manifold and often catastrophic in their consequences. Therefore, the elaboration of effective risk-management plans, aimed at formulating viable response strategies, requires the contribution of all the economic actors involved: private parties, financial institutions, governments and international organizations. This report focuses on the role of insurance and reinsurance companies in the management of environmental risks - environmental pollution risk and natural catastrophe risk in particular. It discusses the issue of insurability of such risks, analyses the increasing risk of liability for environmental pollution and the underlying trends in the development of environmental liability regimes in OECD countries. It also presents an overview of the various environmental pollution insurance products and techniques developed in response to legal and factual evolutions. In addition, it describes the special features of natural catastrophe risks, the role of traditional insurance markets in the coverage of such perils, and alternative options of coverage, from governmental disaster schemes to new financial market instruments.

This publication contains individual country reports, comparative analysis from a regional perspective and examines key policy issues in the private pension sector in the Baltics.

Individuals face an increasing variety of financial risks, including those linked to their retirement. At the same time, public funding has been reduced or is strictly limited in most countries. Private insurance and pensions products therefore play ...