Session
Management, Business and Economics
Description
In recent decades corporate governance is very actual topic, especially in financial institutions, and more and more investors and regulators in the insurance industry have insisted on establishing an adequate corporate governance system. But what exactly is corporate governance? Is it just a trend or a real need for the insurance companies?
Good corporate governance is undoubtedly necessary to maintain a fair, safe and stable insurance sector that will protect the interests of insurers, which in return will contribute to the stability of the financial system as a whole. The insurance industry, like other parts of the financial system, is undergoing a number of changes and that is why insurance companies need to have a stable corporate system in order to face changes easily and respond adequately to rapid sociological, technological changes and economic development.
The benefits of good corporate governance are unquestionable - they provide for greater competitiveness of insurance companies, increased efficiency and corporate results, greater company asset value and higher company reputation, all of which are important factors in the modern business environment.
Finally, it should be noted that corporate governance is not a once-established system, but a continuous process that needs to be constantly upgraded and improved. The market is the one that will evaluate and value the commitment of the insurance companies in the process of building an adequate system of good corporate governance in the long run.
Keywords:
Insurance, Corporate Governance, Investors, Company Reputation, Business environment
Session Chair
Edmond Hajrizi
Session Co-Chair
Naim Preniqi
Proceedings Editor
Edmond Hajrizi
ISBN
978-9951-550-19-2
First Page
12
Last Page
20
Location
Pristina, Kosovo
Start Date
26-10-2019 11:00 AM
End Date
26-10-2019 12:30 PM
DOI
10.33107/ubt-ic.2019.333
Recommended Citation
Dodevska, Vesna Paunkoska and Nuredini, Bashkim, "Corporate Governance in Insurance Companies – Need or Trend?" (2019). UBT International Conference. 333.
https://knowledgecenter.ubt-uni.net/conference/2019/events/333
Included in
Corporate Governance in Insurance Companies – Need or Trend?
Pristina, Kosovo
In recent decades corporate governance is very actual topic, especially in financial institutions, and more and more investors and regulators in the insurance industry have insisted on establishing an adequate corporate governance system. But what exactly is corporate governance? Is it just a trend or a real need for the insurance companies?
Good corporate governance is undoubtedly necessary to maintain a fair, safe and stable insurance sector that will protect the interests of insurers, which in return will contribute to the stability of the financial system as a whole. The insurance industry, like other parts of the financial system, is undergoing a number of changes and that is why insurance companies need to have a stable corporate system in order to face changes easily and respond adequately to rapid sociological, technological changes and economic development.
The benefits of good corporate governance are unquestionable - they provide for greater competitiveness of insurance companies, increased efficiency and corporate results, greater company asset value and higher company reputation, all of which are important factors in the modern business environment.
Finally, it should be noted that corporate governance is not a once-established system, but a continuous process that needs to be constantly upgraded and improved. The market is the one that will evaluate and value the commitment of the insurance companies in the process of building an adequate system of good corporate governance in the long run.