The "Dematerialized" Insurance: Distance Selling and Cyber by Pierpaolo Marano, Ioannis Rokas, Peter Kochenburger

By Pierpaolo Marano, Ioannis Rokas, Peter Kochenburger

This e-book adopts a global standpoint to ascertain how the net sale of assurance demanding situations the coverage rules and the assurance agreement, with a spotlight on coverage revenues, buyer defense, cyber hazards and privateness, in addition to dispute solution. this day insurers, policyholders, intermediaries and regulators have interaction in an more and more on-line international with profound implications for what has prior to now been a historically working undefined. whereas the turning out to be threats to purchaser and enterprise information from cyber assaults represent significant assets of hazard for insurers, while cyber assurance has turn into the quickest becoming advertisement coverage product in lots of jurisdictions.

Scholars and practitioners from Europe, the us and Asia assessment those themes from the viewpoints of insurers, policyholders and assurance intermediaries. occasionally, latest assurance rules seem easily adaptable to the net international, akin to prohibitions on misleading advertising of assurance items and unfair advertisement practices, which might be utilized to advertisements via social media, equivalent to fb and Twitter, in addition to to conventional written fabric. In different parts, present regulatory and company practices are proving to be insufficient to the duty and new ones are emerging.  for instance, the coverage and assurance supervisors are exploring tips to evaluate, make the most of, benefit from and control the explosive progress of knowledge mining and predictive analytics (“big data”), which threaten long-standing privateness security and coverage chance type laws.

This book’s formidable foreign scope suits its issues. the net assurance marketplace is cross-territorial and cross-jurisdictional with insurers frequently working across the world and as a part of higher financial-services keeping companies.  The authors’ exploration of those concerns from the vantage issues of a few of the world’s greatest assurance markets – the united states, Europe and Japan – offers a comparative framework, that's precious for the knowledge of on-line insurance.

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Additional info for The "Dematerialized" Insurance: Distance Selling and Cyber Risks from an International Perspective

Sample text

The recent major issues which are involved with the distribution of insurance products are the achievement of a high level of protection of the insured, and in particular of the consumer; the protection of competition; the principle of the FoS and the FoE within the EU. Other priorities exist as well, such as public confidence towards the insurance industry, data protection and the avoidance of unnecessary impediments in e-commerce. Certain of these main principles are affected amidst the special attention if the transaction is conducted online.

2 Risks and Insurance Regulation Concerning E-commerce . . . . . . . . . . . . . . . . . 1 Risks of E-commerce and Business Conduct Regulation . . . . . . . . . . . . . . 2 Risks of E-commerce and Prudential Regulation . . . . . . . . . . . . . . . . . . . 3 Current Developed Insurance Regulatory Infrastructure . . . . . . . . . . . . . . . . . . 1 European Union . . . . . . . .

4 Consumer Protection and Disclosure Regulation . . . . . . . . . . . . . . . . . . . . . . 1 Fundamental Limitations of Disclosure Regulation . . . . . . . . . . . . . . . . . 2 Some Suggestions for Current Information-Based Regulation Based on the Behavioural Biases . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 5 Concluding Observation . . . . . . . . . . . . . . . . .

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