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English
The Polish insurance market in the context of the draft provisions on resolution and the experience of the Insurance Guarantee Fund in the field of bankruptcy of insurance undertakings
https://doi.org/10.26354/bb.4.1.90.2023
Abstract
The implementation of the IRR Directive, which is currently being worked on, should take into account the specificity of insurance markets in the Member States. In particular, the manner and scope of operation of the local guarantee fund should be taken into account, as there is no minimum harmonization of such structures in EU countries. The aim of the article is to assess the scope of activity of the Insurance Guarantee Fund in Poland in the context of the implementation of the resolution mechanism for the insurance market and to identify the factors necessary to be taken into account in further work and reforms of the financial safety net in the context of the insurance sector. The basis for the preparation of the article was the analysis of the activities of the Insurance Guarantee Fund since its inception, with particular emphasis on the costs of bankruptcy of Polish insurance undertakings, as well as the previous experience of the Bank Guarantee Fund regarding the analysis of the insurance market in the context of future resolution processes in this sector.
Keywords:
resolution , failure , insurance , crisis management , guarantee fundsJEL Codes
G22, H12Download files
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Vol. 90 No. 1 (2023)
Published: 2023-04-19
10.26354
This work is licensed under a Creative Commons Attribution-NonCommercial-ShareAlike 4.0 International License.