Human Rights and Corporate Reinsurance: From Ensuring Rights to Insuring Risks

Scheper, Christian; Gördemann, Johanna

doi:10.1080/13563467.2021.1881470

Cited by 6 publications

(4 citation statements)

References 25 publications

Supporting

Mentioning

Contrasting

Order By: Relevance

“…Reinsurance companies are collaborators in social policy, according to a research by Scheper and Gördemann (2021) in France. Insurance has socioeconomic functions and occasionally assumes the function of a social institution that advances the common good and aids in maintaining social order.…”

Section: Literature Reviewmentioning

confidence: 99%

See 1 more Smart Citation

Contribution of Reinsurance Business to the Economy

Kajwang¹

2022

IJECOP

View full text Add to dashboard Cite

Purpose: Insurance provides protection against financial aspects of a premature death, injury, and loss of property, loss of earning power, legal liability or other unexpected expenses. However, the industry’s contribution to the economy goes much further. One could point to the millions of people employed in insurance and related activities, to the billions of income taxes and premium taxes paid and to extensive charitable works. But, significant as they are, insurers also need protection against risk. That is why reinsurance has developed in last two centuries. The importance of reinsurance is reflected in the costs insurers are willing to pay to acquire reinsurance protection and the fact that without adequate protection the insurance companies might not be licensed to do business. The purpose of this work is to enhance the reader’s understanding on the various contribution of reinsurance business to the economy. Methodology: A desktop literature review was used for this purpose. Relevant journal articles for the study were identified using search engines such as Google Scholar, Google Books, Semantic Scholar, Science.gov and Research Gate. The studies included in the study were note that were less than ten years old. Findings: From the findings, researchers have shown that without the guarantee of reinsurance, most businesses could not operate as they do today, and construction projects could not go forward. Recommendations: This study recommended that insurance firms should seek for re-insurance as it provides for protection against the potential large accumulations of individual losses that can result from catastrophic events. Insurance firms should also seek for reinsurance as an effort to restrict the loss to their balance sheets, and in that sense, helps them to stay solvent. Other firms should also be insured in firms that have undertaken reinsurance in order to add stability to the firms by evening out the results of the insurance companies as they continue to absorb the impact of large losses which would have led to very damaging results to the individual insurance companies. Moreover, insurance firms should consider regional reinsurance so that in case of a national catastrophe, the foreign firms can be in a position to compensate.

show abstract

Section: Literature Reviewmentioning

confidence: 99%

“…Instead of suing their bosses for compensation after becoming ill or injured, injured or unwell workers are assured early reimbursement and quick access to health care that will help them get back to work as soon as feasible (Scheper & Gördemann, 2021). Employers benefit from predictable costs and a lack of legal risk.…”

Section: Literature Reviewmentioning

confidence: 99%

Contribution of Reinsurance Business to the Economy

Kajwang¹

2022

IJECOP

View full text Add to dashboard Cite

show abstract

“…Internationally, these epistemic practices are also to be understood as embedded in the existing inter-societal bridges, that is, the corporate form, market and regulatory competition, and GVCs. The idea of closing governance gaps through better corporate accountability sometimes appears as if it could already attach an alternative practice to the corporate form through the disclosure of information and the accounting for corporate risks, whereas it is precisely the corporate form that generates transnational accountability standards and practices, and that separates ‘normal’ profit generation from ethical considerations (see Scheper and Gördemann, 2022).…”

Section: Three Consequences Of International Politicsmentioning

confidence: 99%

Multiplicity, the corporation and human rights in global value chains

Scheper¹

2022

Cooperation and Conflict

Self Cite

View full text Add to dashboard Cite

Human rights in global value chains have become a key field of study in international law and corporate governance. The analysis often starts with a gap – a ‘governance gap’ in human rights protection. This pragmatic starting point calls for pragmatic solutions: better corporate compliance and more accountability. While this goes a long way in addressing corporate misconduct, the global corporate form, its power and legitimation in transnationally generating and appropriating value tend to become naturalized phenomena. Moreover, the effects of accountability agendas on corporate power and legitimation are hardly considered. Instead, I propose to address the ‘human rights problem’ by understanding the corporation and its networks as consequences of international politics – conceptualized as inter-societal multiplicity. The multiplicity lens offers a possibility to replace the governance gap with a productive conception of inter-societal conditions and can complement the focus on accountability and compliance. I conclude the article by tentatively sketching three important consequences of such a starting point for defining the problem of human rights in global value chains: the international dimensions of the division of labour under competitive conditions, the legitimation of corporate practices and the production of knowledge for their regulation.

show abstract

“…However, such a risk-based approach has potential pitfalls, in the sense that it is difficult to account for tail-risks . It can also make risks seem governable, but at the same time make them more elusive as it shifts the focus away from the relevant entity (in this case climate change) to the management of future uncertainties Scheper & Gördemann, 2022). Such issues are not entirely irrelevant given the fact that with climate change we look into a future marked by great uncertainty in the form of complex chain reactions and cascade effects .…”

Section: Methods and Datamentioning

confidence: 99%

Managing Climate Change Like a Central Banker: The Political Economy of Greening the Monetary Technocracy

Quorning¹

View full text Add to dashboard Cite

It is becoming increasingly clear that if we want to live up to the Paris Agreement and meet the 1.5°C commitment, our societies and economies need to undergo systemic changes at an unprecedented scale. All sectors in the economy will be affected and climate change will therefore likely impact financial and price stability. This realization has led central banks to engage with climate-related issues, leaving central bankers in an unprecedented situation: working with a policy domain outside their immediate knowledge remits. Climate change has become a mainstream issue in central banks, and it is against this background that I seek to understand how central bankers have approached the work with climate change and the extent to which central banks have been repurposed as they have set out to deal with the greatest challenge of our time: the climate crisis. The dissertation draws on insights from International Political Economy, where the dominant approach has been to view central banking from institutional, structural, or ideational perspectives. Here I utilize a micro-level analytical approach constructed around three factors: practices, expertise, and legibility. To understand how central bankers have worked with climate change, I examine the practices they have incorporated, with a focus on climate stress testing and modeling of climate-related risks. I also discuss the types of expertise deployed as I seek to understand how central bankers, trained mainly as economists, work in an entirely new policy domain such as climate change. Finally, I set out to analyze how central bankers have made climate change legible by turning climate change into a risk issue; for central bankers, climate change becomes a risk-based issue, similar to other routine economic problems. I argue central bankers have approached climate change like any other task. In treating climate change as a risk issue, central bankers have been able to work with climate change using their existing expertise and adapting their modeling frameworks to deal with climate-related risks, like any other financial risk. Thus, even though climate change represents a new policy domain, central bankers have maintained the status quo, and subsumed climate change under their current modus operandi. The necessary fundamental changes to the conduct of central banking in the age of anthropogenic climate change remain absent. Despite the urgency of the climate crisis, it is business as usual for the central banks.

show abstract

Human Rights and Corporate Reinsurance: From Ensuring Rights to Insuring Risks

Cited by 6 publications

References 25 publications

Contribution of Reinsurance Business to the Economy

Contribution of Reinsurance Business to the Economy

Multiplicity, the corporation and human rights in global value chains

Managing Climate Change Like a Central Banker: The Political Economy of Greening the Monetary Technocracy

Contact Info

Product

Resources

About