Globalisierung,Versicherung und Welthandelsrecht (WTO)

The article identifies the technological progress in respect of the transport of goods (?container revolution“), passengers (wide body aircraft) and data (world wide web) as the true basis of the present and irreversible development which is usually referred to as globalization. Its effect on insurance is discussed in relation to the capital markets and to the insurance markets. With regard to the latter the main effect of globalisation is the progressive unboundedness of risks which is correlated to the globalization of social and economic developments. The unboundedness of risks would require a world wide extension of insurance business which is, however, in many cases impeded by legal barriers delimiting insurance markets. The deregulation of these barriers has been triggered by GATS, but the process of liberalisation of insurance markets is far from being accomplished.