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image/svg+xml Jakob Voss, based on art designer at PLoS, modified by Wikipedia users Nina and Beao Closed Access logo, derived from PLoS Open Access logo. This version with transparent background. http://commons.wikimedia.org/wiki/File:Closed_Access_logo_transparent.svg Jakob Voss, based on art designer at PLoS, modified by Wikipedia users Nina and Beao The Geneva Papers on...arrow_drop_down
image/svg+xml Jakob Voss, based on art designer at PLoS, modified by Wikipedia users Nina and Beao Closed Access logo, derived from PLoS Open Access logo. This version with transparent background. http://commons.wikimedia.org/wiki/File:Closed_Access_logo_transparent.svg Jakob Voss, based on art designer at PLoS, modified by Wikipedia users Nina and Beao
The Geneva Papers on Risk and Insurance Issues and Practice
Article . 2008 . Peer-reviewed
License: Springer TDM
Data sources: Crossref
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The United States RBC Standards, Solvency II and the Swiss Solvency Test: A Comparative Assessment

Authors: Holzmueller, Ines;

The United States RBC Standards, Solvency II and the Swiss Solvency Test: A Comparative Assessment

Abstract

Cummins et al. (1994) provide a conceptual framework for policymakers to use in analysing risk-based capital systems. Based on their framework, this article provides an overview and critical analysis of risk-based capital requirements, with a focus on property/casualty insurance, as implemented in three regions of the world (the United States, the European Union and Switzerland). To integrate the dynamics of the insurance and capital markets and recent developments in regulation we add four new criteria to the original framework of Cummins et al. The analysis reveals various shortcomings of the standards used in the United States and indicates a need for reform in that country. In contrast, the Swiss standards and the framework planned for the European Union perform generally well. It is, however, not yet possible to identify which of these two systems is superior, as empirical evidence on their effectiveness in protecting policyholders is still lacking.

Country
Switzerland
Related Organizations
Keywords

Solvency II, 330, insurance supervision, risk-based capital, Swiss Solvency Test, other research area, risk management, U.S. RBC

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    47
    popularity
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    Top 10%
    influence
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    This indicator reflects the initial momentum of an article directly after its publication, based on the underlying citation network.
    Top 10%
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citations
This is an alternative to the "Influence" indicator, which also reflects the overall/total impact of an article in the research community at large, based on the underlying citation network (diachronically).
BIP!Citations provided by BIP!
popularity
This indicator reflects the "current" impact/attention (the "hype") of an article in the research community at large, based on the underlying citation network.
BIP!Popularity provided by BIP!
influence
This indicator reflects the overall/total impact of an article in the research community at large, based on the underlying citation network (diachronically).
BIP!Influence provided by BIP!
impulse
This indicator reflects the initial momentum of an article directly after its publication, based on the underlying citation network.
BIP!Impulse provided by BIP!
47
Top 10%
Top 10%
Top 10%
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