OECD Working Papers on Finance, Insurance and Private Pensions
Selected studies on finance, insurance and private pensions policy prepared for dissemination in order to stimulate wider discussion and further analysis and obtain feedback from interested audiences. The studies provide timely analysis and background on industry developments, structural issues, and public policy in the financial sector. Topics include risk management, governance, investments, benefit protection, and financial education. Previous papers addressing these policy issues are available via http://dx.doi.org/10.1787/19936397.
- ISSN: 20797117 (online)
- https://doi.org/10.1787/20797117
Policyholder Protection Schemes
Selected Considerations
This paper investigates policyholder protection schemes in OECD member countries and selected non-OECD countries. It is selective in its scope: it examines the rationale for a policyholder protection scheme; the relationship between certain design features and moral hazard; the role of a policyholder protection scheme within the overall resolution framework; and some cross-border features of these schemes. While the paper focuses on protection schemes for policyholders, it seeks to draw lessons from compensation schemes in the banking and occupational pension fund sectors, while recognising sectoral differences.
Keywords: moral hazard, insurance guarantee, resolution, insurer insolvency, cross-border resolution, policyholder protection, insurance sector
JEL:
F36: International Economics / International Finance / Financial Aspects of Economic Integration;
H12: Public Economics / Structure and Scope of Government / Crisis Management;
D02: Microeconomics / General / Institutions: Design, Formation, Operations, and Impact;
G28: Financial Economics / Financial Institutions and Services / Financial Institutions and Services: Government Policy and Regulation;
F42: International Economics / Macroeconomic Aspects of International Trade and Finance / International Policy Coordination and Transmission;
G22: Financial Economics / Financial Institutions and Services / Insurance; Insurance Companies; Actuarial Studies
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