Problem
Destabilization of national insurance markets by offshore insurers
Nature:
Offshore insurers are insurers incorporated in a country on the strict understanding that they will refrain from underwriting the local risks of that country, all their activities being oriented towards other countries. They can destabilize the markets of neighbouring countries and the market of the country where they are incorporated by resorting to "fronting" or concealing of unauthorized direct insurance operations.
Broader Problems:
Unethical insurance practicesEconomic destabilization of countries by external forces Aggravates:
Insurance industry collapse Subject(s):
Commerce → InsuranceCommerce → Market
Geology → Land and coastal forms
Societal Problems → Instability
Related UN Sustainable Development Goals:
Problem Type:
E: Emanations of other problems Date of last update
04.10.2020 – 22:48 CEST