As financial institutions whose business is the acceptance and management of risk, insurers are expected to have sound governance practices and effective risk management systems. The nature of their business activities requires insurers to be subject to tailored guidance on their risks and...

Since 1994 the highly regulated German insurance market have been deregulated. Insurers have been allowed to calculate their premiums and to offer contracts without regulation. Especially in the motor vehicle insurance several innovations were introduced: age of car, garage, kilometers per year...