NU Online News Service, Nov. 17, 3:10 p.m. EST
Underwriting risks are typically not linked to the economic business cycle and financial market risks. Therefore, traditional insurance companies do not pose a systemic risk, concludes a new report by the International Association of Insurance Supervisors (IAIS).
"The financial crisis of 2008/09 has shown that, in general, the insurance-business model enabled the majority of insurers to withstand the financial crisis better than other financial institutions," says the IAIS.
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