Abstract
ABSTRACTFrom 1870, in the United Kingdom, a generally liberal legal framework for life insurance existed which commanded wide support, particularly from the actuarial profession. Despite its apparent liberalism, however, it is likely that the regulatory framework impeded market entry, particularly of mutual companies. The liberal framework broke down in a number of incremental steps from 1946. This paper traces the development of U.K. life assurance regulation for 101 years from the mid-Victorian period, analyses contemporary reflections on the legal framework within the actuarial profession, and examines the appropriateness of the legal framework for achieving specific economic objectives for long-term insurance regulation.
Publisher
Cambridge University Press (CUP)
Subject
Statistics, Probability and Uncertainty,Economics and Econometrics,Statistics and Probability
Reference45 articles.
1. History of life insurance in the United Kingdom, parts 6 and 7;Walford;Journal of the Institute of Actuaries,1887
2. The position of the insurance press in relation to insurance offices and insurance interests;Walford;Journal of the Institute of Actuaries,1881
3. Remarks by the President of the Institute of Actuaries, minutes of the twenty-fifth Annual General Meeting of the Institute of Actuaries;Tucker;Journal of the Institute of Actuaries,1873
4. Opening Address by the President;Sprague;Journal of the Institute of Actuaries,1886
5. On the Causes of Insolvency in Life Insurance Companies, and the best means of detecting, exposing and preventing it
Cited by
8 articles.
订阅此论文施引文献
订阅此论文施引文献，注册后可以免费订阅5篇论文的施引文献，订阅后可以查看论文全部施引文献