This MA thesis is concerned with insurance distribution in the Czech Republic. It aims to acquaint the reader with individual distribution channels within the context of current and upcoming regulatory framework. Regarding methodology, it makes use of the descriptive, analytical and empirical approach to legal research. The first chapter, The Insurance Market, introduces the gross written premium as the key metric in the insurance industry and it segments the written premium into the main product lines. Further, it deals with sources that will be relied on throughout the thesis and presents the necessary terminology. The second chapter outlines the distribution channels framework through which the insurance products are sold to customers. From the perspective of an insurance undertaking the main distinction is on the internal and external channels. The legal categories of intermediaries and the methods of communication with the customer do not form any particular channel, instead they are understood as cross-channel. The MA thesis is submitted in the period when the applicable Intermediaries Act is about to be superseded by the forthcoming Insurance Distribution Act. That is reflected in the third chapter that is divided into two subchapters, each dedicated to the analysis of the distribution...

Legal regulation of activities of insurance intermediaries This thesis is focused on an analysis of valid domestic legal regulation of activities of insurance intermediaries and an analysis of the newly adopted EU legislation and its possible impact on domestic legislation. Descriptive, analytic and comparative methods are used in order to achieve the object of this thesis. The first chapter of this thesis is devoted to acquainting the reader with the legal regulation of insurance, the description of insurance as a separate economic branch and to a short excursion into the history of insurance. In the remainder of the chapter I deal with the distribution channels of insurance products. A general introduction into the field of insurance should help the reader to understand the legal regulation of actions of insurance intermediaries. The second chapter is aimed at a description and analysis of the legal regulation of activities of insurance intermediaries currently in force. In the beginning of the chapter I briefly describe the functions of insurance intermediaries and further explain the interpretation of basic statutory definitions. The largest part of this chapter is dedicated to an analysis of the current system of categorization of insurance intermediaries and the conditions for the exercise...

of the thesis The subject of my thesis is existing shortcomings in regulation of insurance mediation and possible ways of their rectification. Its first introductory chapter explains who insurance intermediaries are and how significant role they play in distribution of insurance products and specifies the scope of the thesis, its aims and methods. The second chapter is devoted to the legal regulation of insurance mediation adopted at the level of European Union and its aspects. It provides a brief description of history of the EU regulation of insurance mediation and more detailed description of its recent state represented by the Insurance Mediation Directive. The third chapter of the thesis deals with the legal regulation of insurance mediation adopted at the Czech national level, which is represented by the Act on insurance intermediaries and independent loss adjusters and respective decree of the Ministry of Finance of the Czech Republic. In the fourth chapter I summarize the existing shortcomings in legal regulation of insurance mediation both at EU and Czech level which I have identified on basis of legal literature specialized on this topic, comparison of Czech national regulation with its European model as well as my own analysis, and make proposals how to possibly rectify the existing...

of the thesis In this thesis I deal with a comprehensive view of the legal regulation of the activity of insurance intermediaries, including a look into the history, analysis of the current national and European legislation and the expected development of national regulations. Work has been divided into four chapters. The first chapter is dedicated to the insurance industry as a specific economic sector. Here I define the concept of insurance, dealing with the history of the industry and briefly mention the existing legal regulations of insurance in the Czech Republic. At the end of the first chapter I analyze the various distribution networks in the insurance industry with reference to the inclusion of insurance intermediaries as the most important distribution channel. The second chapter is devoted to detailing the significance of insurance intermediaries and the nature of their activities. Similar to the first chapter, here is also a part briefly focused on a historical development of insurance intermediaries activities. A substantial part of this chapter is devoted to current legislation, of which the most important institutions are analyzed in separate sections. Gradually deal with the Insurance Intermediaries Act as a whole, individual categories of insurance intermediaries, the conditions of...

The thesis focuses particularly on the issues of the activites of insurance intermediaries. It identifies problems with the activities of insurance intermediaries and also presents and evaluates options for solving these problems in the context of legislation and market in the Czech Republic.

of thesis titled Insurance intermediaries and supervision over their activities. In my thesis I deal with legislation status and activities of insurance intermediaries. The thesis is divided into three chapters. The first one is devoted to general insurance and the insurance law. I emphasize the importance of the sector and necessity its legal regulation. I mention the roots and development of insurance legislation since 1989. The core of my work is the second chapter, which describes the importance of insurance intermediaries, their function and relationship to other distribution paths. I am talking about the history of the business and its legal regulation and focusing on the development of regulatory activities of insurance brokers since 1989. View of the earlier legislation is important because the anchor institutions and concepts that are still part of the applicable law. The most important part of my theses is a evaluation od the existing legislation, the Act on Insurance Intermediaries, Insurance Act and the Insurance Contract Act in relation to insurance intermediaries. I describe types of contractual arrangements under the Commercial Code that are applicable to insurance intermediaries cooperation with other entities. From the legislation of the Act on Insurance Intermediaries, I focused...

This thesis is focused on insurance business in Vietnam, life insurance and nonlife insurance market within the frame of past and present development. Important part of this thesis is also description of insurance intermediaries and reinsurance companies that are significant subjects in insurance market. Macroeconomic and sociodemographic conditions, in which insurance market operates, are described in first chapter. Vietnam insurance market is underdeveloped in comparison to European countries. On the other hand this sector is progressively developing and has large potential; especially in case government reforms will continue and will lead to international openness and free market economy in Vietnam.

The thesis gives the analysis of the life insurance market in Ukraine. The first part is dedicated to the main characteristics of the Ukrainian insurance market with detailed specification of its participants, regulatory and theoretical basement of life insurance. The second part introduces deep analysis of the main insurance indexes of the market and also the analysis of particular insurance companies with reference to their market shares and product supplies. The last part compares evolution of the Ukrainian insurance market with other nations. Finally, the thesis points out the main problems of the life insurance market in Ukraine and their probable solutions.

Wohlverhaltenspflichten im Rahmen des Vertriebs von Kapitalanlage- und Versicherungsprodukten dienen dem System- und dem Kundenschutz und sind aus ökonomischer Sicht erforderlich, um den zwischen Finanzdienstleistern und Kunden bestehenden strukturellen Informationsasymmetrien zu begegnen. Da das Finanzdienstleistungsgeschäft von einer zunehmenden Finanzkonglomeration und dem Verschwimmen der althergebrachten Sektorengrenzen geprägt ist, ist eine sektorenübergreifende Regelung der Wohlverhaltenspflichten de lege ferenda zu begrüßen. Dies ist insbesondere auch wettbewerbspolitisch geboten, um die mehr und mehr mit ähnlichen Produkten um die gleichen Kundengruppen werbenden Finanzdienstleister der Versicherungs- und Wertpapierbranche vergleichbaren Vorschriften im Hinblick auf den Umgang mit dem Kunden zu unterwerfen. Der Katalog vertriebsbezogener Wohlverhaltenspflichten ist sowohl den unterschiedlichen Schutzbedürfnissen der Finanzdienstleistungsempfänger als auch dem Grad der Abhängigkeit des Vermittlers vom „Hersteller“ des Finanzprodukts anzupassen. Eine Auftrennung von Finanzdienstleistungen in einen von unterschiedlichen Dienstleistern geleisteten Vermittlungs- und Beratungsteil ist ökonomisch sinnvoll, dürfte aber praktisch aufgrund der Marktgegebenheiten selbst durch massive regulatorische Eingriffe kaum realisierbar sein. Im Hinblick auf die Vollendung des europäischen Binnenmarktes für Finanzdienstleistungen ist eine Vollharmonisierung gemeinsamer vertriebsbezogener Wohlverhaltensregeln für den Kapitalanlage- und den Versicherungssektor erforderlich. Europaweite Wohlverhaltenspflichten lassen im Zusammenhang mit der Entwicklung der einst getrennten Bank-, Wertpapier- und Versicherungsdienstleistungsunternehmen zu Allfinanzkonzernen eine einheitliche europäische Finanzmarktaufsicht näher rücken. / Conduct of Business rules governing the provision of investment and insurance services and products protect both the system and the customers of such services. They are essential from an economic point of view in order to counter the structural information asymmetries between financial services providers and their customers. Since the provision of financial services is marked by a growing conglomeration and a dissolution of the sectoral boundaries of old, cross-sector conduct of business rules should be introduced. This is required in particular in order to ensure a level playing field for the financial services providers in both the insurance and the investment sector that increasingly compete with similar products for the same groups of customers. Conduct of business rules have to be adapted according to the diverging needs for protection of the different financial services recipients as well as the degree of dependency of the provider/intermediary from the “producer” of the financial product/service. Economically financial services providing brokerage and those providing advice should be separate, however, practically such a separation is unlikely to change much even with massive regulatory intervention due to the well-established structure of the market. As regards the completion of a European Common Market for Financial Services a complete harmonisation of conduct of business rules in both the investment services and the insurance sector is necessary. In turn, European-wide conduct of business rules in conjunction with the growing financial conglomeration of the formerly separate banking, investment services and insurance sectors call for a common European Financial Services Authority.

Legal regulation of activities of insurance intermediaries Main part of this diploma thesis is aimed at the analysis and evaluation of new national regulation of insurance intermediaries included in the Act no. 170/2018 on distribution of insurance and reinsurance which is the result of implementation of Directive 2016/97 on insurance distribution into the national legislation. This thesis is divided into three chapters The first chapter is dedicated to the introduction of insurance industry as its own and specific economic segment. In this chapter I am discussing insurance industry from both historic and contemporary point of view. I try to briefly define insurance and insurance industry both from legal and economic aspects and then describe development of insurance and insurance industry through the history. At the end of this chapter, I discuss different distribution channels in insurance industry as one of those channels are insurance intermediaries. The second chapter starts with summary of historical regulation of insurance intermediaries since the creation of independent Czech Republic to present day. Main part of this chapter is dedicated to the current regulation of insurance intermediaries. At first, I am discussing different categories of insurance intermediaries and then I am describing...