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Business and Economics > Insurance

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Cover Central America
Central America
Structural Foundations for Regional Financial Integration
International Monetary Fund

Abstract

Intraregional financial activity in Central America has grown substantially in the past decade, contributing to efficiency and economic development. At the same time, the expansion of activities by regional conglomerates has increased the challenges to supervisory authorities of containing the risks of contagion. Prepared as part of the Central America Financial Sector Regional Project by an IMF and World Bank staff team, this book outlines trends in the region's financial sector integration, supervisory responses, development of the insurance sector, payment and securities settlement arrangements, and worker remittances. It addresses the many common policy challenges facing Central American countries--Costa Rica, El Salvador, Guatemala, Honduras, Nicaragua, and Panama--in financial sector reform. The book offers key policy recommendations.

Keywords:
BOOK; remittance; bank; remittance flow; payment system; financial institution; foreign currency; remittance securitization transaction; remittance cost; insolvency proceeding; Payment systems; Insurance; Insurance companies; Securities; Remittances; Central America; Global
Cover IMF Working Papers
Dealing with Increased Risk of Natural Disasters: Challenges and Options
Mr. Michael Keen
,
Mr. Paul K. Freeman
, and
Mr. Muthukumara Mani
Natural disaster risk is emerging as an increasingly important constraint on economic development and poverty reduction. This paper first sets out the key stylized facts in the area-that the costs of disaster have been increasing, seem set to continue to increase, and bear especially heavily on the poorest. It then reviews the key economic issues at stake, focusing in particular on the actual and prospective roles of, and interaction between, market instruments and public interventions in dealing with disaster risk. Key sources of market failure include the difficulty of risk spreading and, perhaps even more fundamental, the Samaritan's dilemma: the underinvestment in protective measures associated with the rational expectation that others will provide support if disaster occurs. Innovations addressing each of these are discussed.
Keywords:
WP; cash-strapped government; emergency management fund; government expenditure; adverse selection; balance of payments; island state; market failure; private sector; Natural Disasters; Developing Countries; Climate Change; Urbanization; a number of country; government of China; insurance market; B. low-income country; developed country; government budget balance; Insurance; Government debt management; Insurance companies; Global