Jump to ContentJump to Main Navigation
The European Union and Global Financial Regulation$
Users without a subscription are not able to see the full content.

Lucia Quaglia

Print publication date: 2014

Print ISBN-13: 9780199688241

Published to Oxford Scholarship Online: August 2014

DOI: 10.1093/acprof:oso/9780199688241.001.0001

Show Summary Details
Page of

PRINTED FROM OXFORD SCHOLARSHIP ONLINE (oxford.universitypressscholarship.com). (c) Copyright Oxford University Press, 2020. All Rights Reserved. An individual user may print out a PDF of a single chapter of a monograph in OSO for personal use. date: 27 November 2020

The EU and Global Insurance Regulation

The EU and Global Insurance Regulation

(p.109) 5 The EU and Global Insurance Regulation
The European Union and Global Financial Regulation

Lucia Quaglia

Oxford University Press

The regulatory capacity of the EU in insurance was limited until the early 2000s. Afterwards, the EU set in place harmonized rules for reinsurance and solvency requirements, without waiting for international standards. The US does not have a strong regulatory capacity in insurance, which is a state, not a federal competence. Hence, the US authorities have been less able to influence global insurance regulation. Embryonic international solvency requirements began to be discussed by the International Association of Insurance Supervisors (IAIS) in the 2000s and the process is ongoing. The EU has managed to upload some of its regulatory templates internationally because its member states had already reached an agreement at the EU level on the Reinsurance directive and the Solvency II directive. In bilateral negotiations with third countries, especially the US, the EU attempted to cross-load parts of these pieces of legislation.

Keywords:   insurance regulation, International Association of Insurance Supervisors, IAIS, Reinsurance, solvency requirements

Oxford Scholarship Online requires a subscription or purchase to access the full text of books within the service. Public users can however freely search the site and view the abstracts and keywords for each book and chapter.

Please, subscribe or login to access full text content.

If you think you should have access to this title, please contact your librarian.

To troubleshoot, please check our FAQs , and if you can't find the answer there, please contact us .