Regulator needs to help, says NAPF
FSA chief says behavioural shifts from supervisors and firms will be needed
Leading CROs and consultants give their views on how regulators and politicians may handle outstanding Solvency II implementation issues this year; on business strategy in response to this; and on the outlook for natural catastrophes. Here is a compilation of responses to the questions InsuranceERM asked experts just before Christmas
John Hibbert suggests that there are parallels between the way the Euro-zone debt crisis and Solvency II are being handled by Brussels
Eiopa's consultation paper on the own risk and solvency assessment (ORSA) confirms how central the approach is to the smooth running of Solvency II. The paper's 24 guidelines "focus on what is to be achieved by the ORSA rather than on how it is to be performed." Here's a summary with some expert comments.
The FSA's revised plan for implementing Solvency II is bad news for organisations like Lloyd's that have committed people, time and money to meeting the original deadlines. Helen Yates looks at the consequences of the move and the uncertainties caused by the lack of detail on key aspects of it.
Extending the window for the IMAP to mid-2013 applies only to those firms already in pre-application, says the UK regulator, but it has yet to clarify other issues arising from its announcement about the delay in Solvency II implementation. Lorna Davies reports.