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Financial markets megaregulator
Shvetsov: Managed Bailouts May Restore Trust in Russia’s Insurance
17.10.2013 12:41 / PRIME
“We cannot create a bankruptcy-safe system, however, we can create a system that will effectively clear up the aftereffects of bankruptcy”, he said.
He said that a system like that could facilitate quick transfer of liabilities and assets of a problem company to healthy insurers, change of insurance company ownership, if current owners lack the resources to bail out the company.
“Controlled rehabilitation and bankruptcy are quite likely to boost trust in insurance and drive healthy competition”, said Shvetsov.