Let X and Y be two nonnegative dependent random variables according to a copula function. Under appropriate conditions, the closure property of the product XY is derived when X belongs to class S and R, respectively. Some examples are provided to illustrate the impact of the dependence structure...

This report presents a Detailed Assessment of the Observance of the Insurance Core Principles Report on Jersey. Other than the international business, most cover is obtained from insurers based overseas by the large insurance broker community on the island. There is no ombudsman and no...

The design of the German banking supervision framework is structurally sound, with a robust legislative and operational framework that largely complies with the Basel Core Principles for effective banking supervision (BCP). Various improvements to the German supervisory framework have been...