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QLLM139 Insurance Regulation (Sem 2)

(Cannot be combined with module QLLM137)

Module Description

This module deals with the regulation of insurance. It will look at the nature of risk in insurance business, the international standards on regulation and their influence on the shape of EU law and UK law, and in detail at the UK's approach to regulation, covering the structure of the regulator and the rules that are applied to regulation of insurance business (both those companies that provide insurance and intermediaries who facilitate insurance contracts).

Module Topics

  • Introduction: why regulate insurers?
  • Nature of risk, risk and insurers; the origins of regulation; issues in regulation of insurance business (free market, competition, state intervention, policyholder protection, vested interests)
  • International regulation I: issues, solutions, international financial architecture, IAIS
  • International regulation II
  • EU I: single market
  • EU II + UK I: development
  • UK II: structure of supervisor
  • UK III: rules
  • UK IV: rules
  • Lloyd’s

Prerequisites

None

Applicable Groupings

Mode of Assessment

2.15 hour written examination

Credits

22.5 Credits

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