Enterpreneurial Insurance: A New Paradigm for Deregulated Markets

Abstract

1. Foundations of an entrepreneurial insurance industry 1.1.The need for renewed foundations Insurance companies in the private economic sector are generally designated rather ingenuously as "insurance enterprises" This applies to insurance stock companies as well as to insurance mutuals and most public insurance companies.Most managers of these insurance companies see themselves as entrepreneurs, acting according to entrepreneurial principles.They arc supported in this attitude by insurance theory, and even legal texts routinely speak of insurance enterprises.In reality, however, the situation is a little more complex than this.There are few other industries where legal norms and administrative provisions restrict freedom for entrepreneurial activity as intensively and pervasively as in the insurance sector.The remaining latitude for entrepreneurial activity varies across the different functions of