Macroprudential Supervision in Insurance ─ Theoretical and Practical Aspects

Macroprudential policies, tools and supervision have become the most important regulatory and supervisory innovation across the globe in recent years. This very relevant topic, which became important after the last financial crisis, is the subject matter of numerous studies and policy papers. Most contributions to the field however are banking-oriented and rarely address other segments of the financial sector. It seems only natural therefore that a more balanced approach is required.

Macroprudential Supervision in Insurance fills this existing vacuum and advances our understanding of macroprudential oversight in insurance. The book is split into three parts. The first part addresses general and methodological issues and provides a framework for the analysis of macroprudential policies and supervision in the insurance context. The second part focuses on policy related issues: balance between macro and micro, the macroprudential supervisory toolkit, GSII related aspects and the institutional dimension of macroprudential supervision. The third part focuses on global level aspects of macroprudential in insurance, making this an ideal resource for the supervisory community, the insurance industry and anyone interested in insurance regulation.

Jan Monkiewicz is Professor of Financial Management at Warsaw University of Technology, Poland, and Head of its Risk and Finance Department. He has held senior positions within the Polish government; he has been a member of the Executive Board of the International Association of Insurance Supervisors, Vice Secretary General of the Geneva Association and has been a member of the editorial board of The Geneva Papers on Risk and Insurance. His principal research interests include financial stability, financial markets, financial regulation, risk and insurance and intellectual property rights. He has published several books and articles both in Poland and abroad. He has been advisor to the President of the National Bank of Poland since 2012.

Marian Malecki was Lecturer in International Economics at the Warsaw University of Technology, Poland, and has published over 70 articles in this subject area. He worked for the Polish government for many years where he was involved in Poland's integration into the European Union. He has also worked at the Polish Insurance and Pension Authority where he was responsible for market research, consumer protection and its foreign relations, representing the Authority at the IAIS and CEIOPS meetings. In the past four years he was associated with the Geneva Association at the implementation of the PROGRES Research Programme on Regulation and Supervision.