Insurance brokers and self-regulation

Abstract

Considered general requirements for self-regulated organizations on financial market, aims of their establishment, Association of Professional Insurance Brokers’ plans of obtaining SRO status. Described the experience of functioning as a professional association in the context of legislative changes during thirteen-year period. Analyzed today’s issues on insurance brokers as insurance market players. Studied the efficiency of insurance brokers’ SRO in the framework of updated legislation: problems and opportunities. Determined a place insurance brokers will have in a model of insurance market with national reinsurance company established.

Keywords

• insurance
• self-regulation
• insurance company
• insurance broker
• government regulation