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The European Insurance Industry pp 7–29Cite as

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Risks and Control of Insurance Undertakings

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Abstract

Insurance companies are exposed to some risks that can be controlled as well as to some which are difficult to foresee. They are exposed not only to internal risks, but also to external ones. The length of some insurance contracts, which may run for many years, may compound these risks. The chapter highlights the peculiarity of features and of risks (life and non-life insurance) that the insurance undertakings have to face. Consequently, it focuses on the role of internal control systems, which become a key concern to cope with the complexity of insurance activity. The chapter ends by analysing the motivation and evolution of external supervision and regulation using a European and international vision.

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Authors and Affiliations

  1. Department of Economics and Management, University of Pisa, Pisa, Italy

    Antonella Cappiello

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  1. Antonella Cappiello
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Correspondence to Antonella Cappiello .

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Cappiello, A. (2020). Risks and Control of Insurance Undertakings. In: The European Insurance Industry. Palgrave Macmillan, Cham. https://doi.org/10.1007/978-3-030-43142-6_2

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  • DOI: https://doi.org/10.1007/978-3-030-43142-6_2

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  • Print ISBN: 978-3-030-43141-9

  • Online ISBN: 978-3-030-43142-6

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