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Systemic Risk and The U.S. Insurance Sector

Cummins, J. David ; Weiss, Mary A.

The Journal of risk and insurance, 2014-09, Vol.81 (3), p.489-528 [Periódico revisado por pares]

Malvern: Blackwell Publishing Ltd

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Título:
Systemic Risk and The U.S. Insurance Sector
Autor: Cummins, J. David ; Weiss, Mary A.
Assuntos: Analysis ; Credit insurance ; Deposit insurance ; Economic indicators ; Financial analysis ; Financial risk ; Insurance industry ; Insurance premiums ; Insurance providers ; Insurance regulation ; International finance ; Liability insurance ; Life insurance ; Reinsurance ; Risk management ; Symposium on Convergence, Interconnectedness, and Crises: Insurance and Banking ; Systemic risk
É parte de: The Journal of risk and insurance, 2014-09, Vol.81 (3), p.489-528
Notas: ArticleID:JORI12039
istex:0BC0A8B301B6286E35852458177CAF32E7A3C1A5
ark:/67375/WNG-NVF7Q99M-4
Descrição: This article examines the potential for the U.S. insurance industry to cause systemic risk events that spill over to other segments of the economy. We examine primary indicators of systemic risk as well as contributing factors that exacerbate vulnerability to systemic events. Evaluation of systemic risk is based on a detailed financial analysis of the insurance industry, its role in the economy, and the interconnectedness of insurers. The primary conclusion is that the core activities of U.S. insurers do not pose systemic risk. However, life insurers are vulnerable to intrasector crises, and both life and property–casualty insurers are vulnerable to reinsurance crises. Noncore activities such as financial guarantees and derivatives trading may cause systemic risk, and interconnectedness among financial institutions has grown significantly in recent years. To reduce systemic risk from noncore activities, regulators need to continue efforts to strengthen mechanisms for insurance group supervision.
Editor: Malvern: Blackwell Publishing Ltd
Idioma: Inglês

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Systemic Risk and The U.S. Insurance Sector

Cummins, J. David ; Weiss, Mary A.

Malvern: Blackwell Publishing Ltd

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