Advanced search ?

Object

Information asymmetry in insurance firms and supervisory institutions relations: problems, consequences and remedies
Download

Title: Information asymmetry in insurance firms and supervisory institutions relations: problems, consequences and remedies

Creator:

Kurek, Robert

Description:

Argumenta Oeconomica, 2014, Nr 2 (33), s. 145-170

Abstrakt:

The study presents information asymmetry characteristics in a relation between supervisioninstitution and insurance firm, discusses reasons for this phenomenon occurring, analyses thepossible effects for individual insurance firms and the entire market and also indicates thepossibilities and methods for eliminating its negative consequences.Due to the fact that a supervisory on institution has access to all information regarding aninsurance firm under assessment, information asymmetry in the relation between a supervisoryauthority and an insurance company, by definition, should not take place. However, the performedresearch into this phenomenon indicates that some of its symptoms can be observed, which resultsfrom imperfections ingrained in the information itself, from the cognitive limitations of supervisoryinstitutions staff (decision makers), as well as the indirect implementation, by a supervisoryinstitution, of the information disclosed by insurance firms on a voluntary basis. The consequencesof information asymmetry may become the reason for an improperly performed assessment by thesupervision authority and may influence the decisions made.The performed analysis also puts an emphasis on the fact that classically describedinformation asymmetry effects, such as adverse selection and moral hazard, in cases ofasymmetry occurrence in the relations between a supervisory institution and an insurancecompany, should be supplemented by a costly verification of the current situation (collectinginformation and its credibility verification) which, depending on the scale, is significant forsupervisory authorities in the process of the performed assessment and in taking due decisions,as well as for the proper allocation of the resources at the disposal of insurance institutions andalso for the correct functioning of the entire insurance market.Each area of information asymmetry, in relations between a supervision institution and aninsurance firm, generates a different type of protection possibilities against its occurrence, itsreduced scope and for minimizing its effects, which has also been discussed in the study. Due to thefact that legal regulations and information submission arrangements are not capable of eliminatingall information limitations for asymmetry occurrence to be correctly identified, it is necessary tokeep monitoring all information processes taking place in relations between a supervisioninstitution and an insurance firm. An indispensable condition for eliminating the limited capacity inrecognizing insurance companies’ attributes by supervision authorities, is studying the influence ofall new regulations and researching the phenomena influencing the course of the supervisoryprocesses. However, the fact that a different (larger) information scope is available for asupervisory institution does not necessarily have to influence the decisions made by this institution.

Publisher:

Wydawnictwo Uniwersytetu Ekonomicznego we Wrocławiu

Place of publication:

Wrocław

Date:

2014

Resource Type:

artykuł

Resource Identifier:

doi:10.15611/aoe.2014.2.07 ; oai:dbc.wroc.pl:25873

Language:

eng

Relation:

Argumenta Oeconomica, 2014, Nr 2 (33)

Rights:

Wszystkie prawa zastrzeżone (Copyright)

Access Rights:

Dla wszystkich w zakresie dozwolonego użytku

Location:

Uniwersytet Ekonomiczny we Wrocławiu

Group publication title:

Argumenta Oeconomica

Format:

application/pdf

Subject and keywords:

information information asymmetry insurance supervision

Object collections:

Last modified:

May 26, 2022

In our library since:

Dec 10, 2014

Number of object content hits:

329

Number of object content views in PDF format

323

All available object's versions:

https://dbc.wroc.pl./publication/28618

Show description in RDF format:

RDF

Show description in OAI-PMH format:

OAI-PMH

Edition name Date
Information asymmetry in insurance firms and supervisory institutions relations: problems, consequences and remedies May 26, 2022

Similar

Prace Naukowe Uniwersytetu Ekonomicznego we Wrocławiu
Prace Naukowe Uniwersytetu Ekonomicznego we Wrocławiu

Nadzór nad globalnie działającymi zakładami ubezpieczeń – wymogi kapitałowe

Kurek, Robert

2016
artykuł
Prace Naukowe Uniwersytetu Ekonomicznego we Wrocławiu
Prace Naukowe Uniwersytetu Ekonomicznego we Wrocławiu

Supervisory arbitrage on the EU insurance market.

Kurek, Robert

2014
artykuł
Prace Naukowe Uniwersytetu Ekonomicznego we Wrocławiu
Prace Naukowe Uniwersytetu Ekonomicznego we Wrocławiu

Ewolucja konwergencji regulacji i sposobów nadzorowania na rynku ubezpieczeniowym UE

Kurek, Robert

2013
artykuł
Prace Naukowe Uniwersytetu Ekonomicznego we Wrocławiu
Prace Naukowe Uniwersytetu Ekonomicznego we Wrocławiu

Systemy informacyjne nadzoru ubezpieczeniowego

Kurek, Robert

2014
artykuł
Ekonomia XXI Wieku = Economics of the 21st Century
Ekonomia XXI Wieku = Economics of the 21st Century

Principal - agent relations in EU budget resource collecting

György, Attila György, Adina Cristina

2011
artykuł
Prace Naukowe Uniwersytetu Ekonomicznego we Wrocławiu
Prace Naukowe Uniwersytetu Ekonomicznego we Wrocławiu

Wybrane informacyjne ograniczenia realizacji strategii zrównoważonego rozwoju

Czaja, Stanisław

2011
artykuł
Prace Naukowe Uniwersytetu Ekonomicznego we Wrocławiu
Prace Naukowe Uniwersytetu Ekonomicznego we Wrocławiu

Syntetyczny miernik poziomu asymetrii informacji (SMAI)

Czapiewski, Leszek Kubiak, Jarosław

2012
artykuł
Prace Naukowe Uniwersytetu Ekonomicznego we Wrocławiu
Prace Naukowe Uniwersytetu Ekonomicznego we Wrocławiu

Problemy asymetrii informacji na rynku turystycznym w obszarze transakcyjnym

Panasiuk, Aleksander

2015
artykuł
More
×

Citation

Citation style:

Contact details

Address

Wrocław University of Science and Technology (Coordinator)
Library of Wrocław University of Science and Technology
Wybrzeże Wyspiańskiego 27
50-370 Wrocław, Poland

Phone

(+48) 71-320-38-30
(+48) 71-320-47-50

E-Mail

bc@pwr.edu.pl

Visit us!

https://biblioteka.pwr.edu.pl/

This page uses 'cookies'. More information