Jump to ContentJump to Main Navigation
The Economics, Regulation, and Systemic Risk of Insurance Markets$
Users without a subscription are not able to see the full content.

Felix Hufeld, Ralph S. J. Koijen, and Christian Thimann

Print publication date: 2016

Print ISBN-13: 9780198788812

Published to Oxford Scholarship Online: December 2016

DOI: 10.1093/acprof:oso/9780198788812.001.0001

Show Summary Details
Page of

PRINTED FROM OXFORD SCHOLARSHIP ONLINE (www.oxfordscholarship.com). (c) Copyright Oxford University Press, 2019. All Rights Reserved. An individual user may print out a PDF of a single chapter of a monograph in OSO for personal use. date: 13 December 2019

What is Insurance and How Does it Differ from General Finance?

What is Insurance and How Does it Differ from General Finance?

Chapter:
(p.5) 1 What is Insurance and How Does it Differ from General Finance?
Source:
The Economics, Regulation, and Systemic Risk of Insurance Markets
Author(s):

Christian Thimann

Publisher:
Oxford University Press
DOI:10.1093/acprof:oso/9780198788812.003.0002

This chapter provides an economic definition of insurance and delineates insurance from general finance. This delineation is important because in global finance the distinction is frequently blurred, which leads to uniformity in regulatory approaches that is not conducive to financial stability. The chapter argues that the challenge to delineate insurance activities and more general financial activities stems to a large extent from a confusion of terminology. Insurance and finance both use similar terminology—in particular the ubiquitous notion of risk—but attach fundamentally different meanings to them. The chapter also explores whether there is a ‘land in between’ insurance and finance, sometimes labelled as ‘non-traditional insurance’, and rejects this notion.

Keywords:   insurance, finance, risk, loss, value, risk transfer, non-traditional insurance

Oxford Scholarship Online requires a subscription or purchase to access the full text of books within the service. Public users can however freely search the site and view the abstracts and keywords for each book and chapter.

Please, subscribe or login to access full text content.

If you think you should have access to this title, please contact your librarian.

To troubleshoot, please check our FAQs , and if you can't find the answer there, please contact us .