text: precisely, complex problems ofpOlicyco-ordination amongcountries andamong sectors inacontext ofuncertainty. 14.21 TheUNCTADsecretariat willestablish andimprove exchanges withother entities andorganizations, inside andoutside theUnitedNations system, onthe economic outlook, policyissuesrelated totheoutlook, timelynational and international statistics, andprogress inmodelbuilding andsimulation analysis, through regional andinterregional meetings andbilateral contacts. Inaddition, itwillcontinue torespond torequests fromothersecretariats forinputinto theirdocumentation intheareasoutlined above. SUBPROGRAMME 4.INSURANCE (a)Objectives 14.22 Thelegislative authority forthissubprograrnme isUNCTADresolution 42(III); andCommittee onInvisibles andFinance related toTraderesolutions and decisions 7(VI),9(VII), 10(VII), 13(VIII), 19(IX),28(XI),30(XII), 31(XII)and32(XII). 14.23 Theobjectives ofthesubprogramme willbetopromote thedevelopment ofa viableinsurance sectorindeveloping countries supportive oftheirdevelopment. Tothatend,thesubprogramme willassistdeveloping countries inimproving the technical andeconomic performance oftheirinsurance markets inordertoreduce theirdependence oninternational insurance andreinsurance centres andtoenable thosemarkets tocover,asfarasistechnically feasible, theinsurance operations generated bynational economic activities. Itwillalsosupport measures encouraging anincrease inthevolumeofinsurance business underwritten and retained domestically, andtheinvestment ofpremiums inthecountry wherethey arise. (b)Courseofactionofthesecretariat 14.24 TheUNCTADsecretariat willsupport intergovernmental consideration of insurance andrelated matters withaviewtohelping developing countries develop newandlargertypesofinsurance protection tocovereconomic activities crucial forthedevelopment process, suchas: (a)Theexpansion ofagriCUltural andindustrial production, thedevelopment oftranspo~t activities andcreditfacilities andthepromotion offoreign trade; (b)Obtaining coverage atfavourable prices andconditions andwitha reasonable degreeofsecurity ininternational markets forrisksthatcannot be covered domestically; -7- Digitized by Dag Hammarskjöld Library(c)·Creating conditions thatwillmaketheinsurance industries ofdeveloping countries competitive ininternational markets, particularly asregards reinsurance; (d)Further developing andupdating insurance legislation andsupervision; (e)Introducing education andtraining programmes forthedevelopment of qualified personnel andmanagerial capacity inthefieldofinsurance; (f)Increasing regional andsubregional co-operation amongdeveloping countries ininsurance, particularly inthefieldofreinsurance, including the creation ofregional orsUbregional reinsurance institutions andpools, and increasing suchco-operation asregards risksthatindividual developing countries cannot coveradequately; (g)Increasing theawareness withintheireconomies oftheneedforrisk management andtheapplication ofsuitable techniques inthisfield. 14.25 TheUNCTAD secretariat willundertake research studies toanalyse the .insurance markets ofdeveloping countries andtheirstructural weaknesses. In-depth studies willidentify problems andbottle-necks thatprevent theeffective functioning ofthosemarkets, makeproposals onhowtoovercome themanddraw attention topriority needsofdeveloping countries inthatarea. TheUNCTAD secretariat willalsoundertake regular reviews ofdevelopments ininsurance markets ofdeveloping countries, highlighting important developments, pointing out theemergence ofspecific ornewproblems anddrawing attention tosolutions introduced bydeveloping countries themselves thatmaylendthemselves toawider
analysis: The text appears to focus on the development of insurance sectors in developing countries, with the goal of promoting economic development and reducing dependence on international insurance centers. The text also mentions the importance of risk management and the need for developing countries to have access to international insurance markets at favorable prices and conditions.