Chapters in this book

1. Frontmatter i
2. Contents v
3. Foreword vii
4. Acknowledgements viii
5. 1. Introduction 1
6. 2. Four Recent Cases of Financially Distressed Insurers 4
7. 3. The State of the Art in Prudential Regulation 29
8. 4. Inversion of the Production Cycle and Capital Structure of Insurance Companies 43
9. 5. Absence of a Tough Claimholder in the Financial Structure of Insurance Companies and Incomplete Contracts 56
10. 6. How to Organize the Regulation of Insurance Companies 64
11. 7. The Role of Reinsurance 75
12. 8. How Does Insurance Regulation Fit within Other Financial Regulations? 83
13. 9. Conclusion: Prudential Regulation as a Substitute for Corporate Governance 97
14. References 99