Regulation of insurance services in the Czech Republic
Journal of Financial Regulation and Compliance
ISSN: 1358-1988
Article publication date: 1 March 2002
Abstract
The Insurance Act was passed in the Czech Republic in 1991. It provided for the establishment of new insurance companies and competition between them. The Ministry of Finance was authorised to supervise insurance activities. Amendments to the Act in 1993 covered the formation and financial placement of technical provisions and made changes to insurance company accounting rules. The second important transitional step was taken in 1999 with the passage of the new Insurance Act and a motor third party liability insurance Act with the aim of harmonising Czech insurance law with the EU legal framework. This harmonisation process should be finished by the end of 2002.
Keywords
Citation
Mráz, V. (2002), "Regulation of insurance services in the Czech Republic", Journal of Financial Regulation and Compliance, Vol. 10 No. 1, pp. 31-36. https://doi.org/10.1108/13581980210810102
Publisher
:MCB UP Ltd
Copyright © 2002, MCB UP Limited