Investigation of regulation theories in Iran’s insurance industry

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Niakan Leili; Behboodi Rad Zeinab; Souri Ali

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Paper Information

Journal: Encyclopedia of Economics Law journal Year:2024 | Volume:31 | Issue:25 Page(s): 213-232

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Title

Investigation of regulation theories in Iran’s insurance industry

Author(s)

Niakan Leili | Behboodi Rad Zeinab | Souri Ali | Issue Writer Certificate

Keywords

government intervention

Market failure

Insurance Industry

regulation

public interest theory

Abstract

One of the highly important topics that has captured the attention of economists over the past decades is the role and significance of the financial system in the economic growth of countries. Financial markets control a considerable volume of a country’s financial capital. The Insurance Industry is a crucial component of financial markets, and today, its importance and substantial role in economic growth and overall societal welfare are evident. Insurance, as an industry within the financial sector, plays a compensatory and supportive role in the economy of any country. Additionally, insurance is one of the most essential institutions in the financial market, providing not only confidence and security but also facilitating the expansion of productive activities through the establishment of reserves. Therefore, stability and efficiency in the Insurance Industry are essential for a country’s economy as a financial market

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