COMPARATIVE STUDY ON MAIN SOLVENCY ASSESSMENT MODELS FOR INSURANCE FIELD
Journal Title: Challenges of the Knowledge Society - Year 2015, Vol 5, Issue 0
Abstract
During the recent financial crisis of insurance domain, there were imposed new aspects that have to be taken into account concerning the risks management and surveillance activity. The insurance societies could develop internal models in order to determine the minimum capital requirement imposed by the new regulations that are to be adopted on 1 January 2016. In this respect, the purpose of this research paper is to offer a real presentation and comparing with the main solvency regulation systems used worldwide, the accent being on their common characteristics and current tendencies. Thereby, we would like to offer a better understanding of the similarities and differences between the existent solvency regimes in order to develop the best regime of solvency for Romania within the Solvency II project. The study will show that there are clear differences between the existent Solvency I regime and the new approaches based on risk and will also point out the fact that even the key principles supporting the new solvency regimes are convergent, there are a lot of approaches for the application of these principles. In this context, the question we would try to find the answer is "how could the global solvency models be useful for the financial surveillance authority of Romania for the implementation of general model and for the development of internal solvency models according to the requirements of Solvency II" and "which would be the requirements for the implementation of this type of approach?". This thing makes the analysis of solvency models an interesting exercise.
Authors and Affiliations
Daniela Nicoleta SAHLIAN
Keywords
Related Articles
- EP ID EP106205
- DOI -
- Views 143
- Downloads 0
LEGAL ASPECTS OF INTERNATIONAL TERRITORIES IN THE SUBMARINE AREA
United Nations Convention on the Law of the Sea held in Montego Bay in 1982, in Part XI, has established a radically distinct legal regime on soil and subsoil bottoms seas and oceans, beyond the limits of national jurisd...
COMPARATIVE STUDY ON MAIN SOLVENCY ASSESSMENT MODELS FOR INSURANCE FIELD
During the recent financial crisis of insurance domain, there were imposed new aspects that have to be taken into account concerning the risks management and surveillance activity. The insurance societies could develop i...
SPECIAL ISSUES REGARDING THE MEDIATION PROCESS IN THE COMMERCIAL FIELD
The purpose of the research subject to this paper is to find proper solutions for the increase of the volume and efficiency in the field of commercial mediation. Starting from practical remarks, after an analysis of the...
PROBATION PERIOD IN THE INDIVIDUAL LABOUR CONTRACT
This study wants to present the period of probation in the labour contract as an optional way to verify the sills of the employee, because of the Labour Code changes and from the view of the legal practice in this field....
THE CONSIGNMENT CONTRACT FROM THE PERSPECTIVES OF THE OLD AND NEW LEGISLATION
A form of intermediation contracts based on the mandate without representation is also the consignment agreement, a variety of the contract of commission. The consignment contract is lawfully established by Law No. 178/1...