The increasing globalization and information communication associated with commerce are confronted with the risk experienced over the years in the various production sectors of the economies. The research studied the influence of ICTs capital goods exports, industrial value addition, transportation energy, and globalization on insurance and financial services in a panel of 29 selected European and Central Asian nations. The research spanned from 2012 to 2021 and used a Panel quantile regression model. It was shown that insurance and financial services increased dramatically between the 0.40th ...