Central Bank's Programme Of Themed Inspections For 2016

Introduction

On 3 February 2016, the Insurance Supervision Directorate of the Central Bank of Ireland (the "Central Bank") published its programme of themed inspections (the "Programme"), reflecting its supervisory priorities for 2016 and anticipating areas of emerging risk.

The Programme highlights the areas identified by the Central Bank where it feels supervised entities may need to raise compliance standards.

Overview of the proposed themes

The Programme, which supplements the Central Bank's day to day supervisory work, will be a mixture of company focused inspections combined with thematic reviews. Some of the themes which are to be covered include the following:

• Risk Management and Capital Planning – Evidence based assessment of risk management frameworks and risk culture within firms including an assessment of whether the Own Risk Solvency Assessment is embedded in the risk management and decision making process of insurance companies as well as