Keyword Analysis & Research: complaints definition ex solvency 2

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Frequently Asked Questions

What does Solvency II mean for the insurance industry?

Solvency II would put in place capital requirements for insurers to reduce the risk that they would be unable to meet obligations when an unusually high number of claims has been made. Solvency II is expected to take effect in January 2013.

What is the Solvency II Framework Directive?

The Solvency II Framework Directive replaces the EU’s existing 14 insurance and reinsurance directives. It must be transposed into national law in each of the 28 Member States. Solvency II Level 2 implementing measures spell out the detailed requirements that insurers must meet.

What are the three pillars of Solvency II reporting and disclosure?

Reporting and disclosure in the Solvency II world. The Solvency II Directive is built around the ‘3 pillars’ of quantitative requirements (Pillar 1), supervisory review (Pillar 2) and disclosure requirements (Pillar 3).

Is the Solvency II regime fit for purpose in 2020?

EIOPA provided its technical advice in form of an Opinion on 17 December 2020. Since January 2016, the EU (re) insurers are governed by the Solvency II regulatory regime. Gradual reviews have been undertaken since then to ensure that the regime remains fit for purpose.

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