Document Type : Article
Authors
1 Ph.D student in the field of Oil and Gas Law, Department of Public Law, Faculty of Law and Political Sciences, Tehran University, Tehran, Iran.
2 Assistant Prof, Department of Public Law, Faculty of Law and Political Sciences, Tehran University, Tehran, Iran
3 Ph.D student in the field of Public Law, Department of Public Law, Faculty of Law and Political Sciences, Tehran University, Tehran, Iran
Abstract
Regulation in insurance is very important due to the important role of public interests. Among the topics that require serious regulation in the field of insurance is the bankruptcy of insurance companies. The reason for this is that the bankruptcy of insurance companies can have heavy social and economic consequences and damage public interests. In the present article, the concept and rationale of regulation have been collected using the library method, and further, with a descriptive-analytical method, the purposes of regulation in insurance has been discussed and investigated using public law analysis. The aim of the research is to explain the regulatory tools regarding the bankruptcy of insurance companies in order to provide public interests. The research finding indicate that financial reporting and accounting and investment restrictions of insurance companies are among the Priori regulatory tools that have a preventive aspect and are specifically related to the solvency of insurance companies. The government's guarantee to fulfill the financial obligations of the bankrupt insurer is another regulatory tool that oversees the post-bankruptcy stage. What is mentioned in Articles 44 and 52 of the Law on the Establishment of Central Insurance of Iran is one of the recently mentioned regulatory tools.
Keywords
- Bankruptcy risk
- Bankruptcy of the insurer
- public interest
- Financial opulence
- Priori regulatory tool
- Posterior regulatory tool.
Main Subjects
English
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