Legal regulation of insurance and reinsurance in the Czech Republic and Great Britain

Insurance and reinsurance law in the Czech Republic and the United Kingdom My diploma thesis focuses on the law of insurance and reinsurance. Insurance is an important sector within the financial services area. It helps to mitigate the consequences of unforeseen events, whose impact would otherwise be much more severe. Due to the high monetary volumes involved in this sector, the state regulates this industry. It sets the requirements to conduct the business, requirements in respect of the financial health and the obligations towards the supervising body. Reinsurance is closely connected to insurance, because in principle it is and "insurance of an insurance company", i.e. a risk transfer between the insurance and reinsurance company, where the reinsurance company pays claims to the insurance company in the case of unforeseen events specified in the reinsurance contract. Although most of us may never come accross reinsurance, it is a key differentiator when catastrophes happen, as they often cause significant damage. and it does not matter, whether they are natural or man-made. In these cases the reinsurers bear a substantial portion of the losses that the insurance companies then pay out to their clients. For this reason I am focusing on the regulation of these activities and I am comparing the regulation..