The Impact of the Financial Crisis on the Insurance Sector and Policy Responses
This special report assesses the impact of the crisis on the insurance sector and reviews policy responses within OECD countries. It is based to a large extent on a quantitative and qualitative questionnaire that was circulated to OECD countries in 2009. The report shows that generallythe insurance sector demonstrated resilience to the crisis, though with some variation across the OECD, and concludes with a number of policy conclusions.
Key Policy Conclusions from the Crisis
The OECD Insurance and Private Pensions Committee has, on several occasions, discussed the issues raised by the financial crisis and considers that it is important to draw some key policy conclusions from the crisis and its impact on the insurance sector in order to provide further impetus to financial sector reform. These policy conclusions are aimed at promoting financial stability, enhancing the protection of policy holders, and ensuring a level and competitive playing field. The conclusions are the following...