Insurance Transformation in the CR prior to Accesion to EU

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Authors

ČEJKOVÁ Viktória

Year of publication 2001
Type Article in Periodical
Magazine / Source Czech Business and Trade
MU Faculty or unit

Faculty of Economics and Administration

Citation
Field Economy
Keywords insurance transformation; insurance act; Czech Association of insurance companies; accession to EU; insurance market
Description Insurance industry is a extraordinarily important sector with its special role in every market economy. In April 1991 the Czach National Council passed the new Act No. 185/1991 Coll. on insurance, which maked possible the establishment of new insurance companies and the involvement of foreign capital in this sector. Further to this and despite possible problems, the former Czech State insurance company was privatized and transformed. The validity of this insurance act was since 28 May 1991 to 1 April 2000.
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