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ARTICLE · 25 APRIL 2013

Solvency II Update

Matheson
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The EIOPA has recently launched a public consultation on Guidelines related to the preparation for Solvency II.

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Sharon Daly
Sharon Daly
Darren Maher
Darren Maher
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EIOPA consults on Guidelines for interim measures

On 27 March 2013, EIOPA launched a public consultation on Guidelines related to the preparation for Solvency II (commonly referred to as Solvency II interim measures or "Solvency 1.5"). The main purpose of the Guidelines is to support both National Competent Authorities (NCAs) and undertakings in preparing for the Solvency II regime. The Guidelines cover those areas that EIOPA considers fundamental to ensure effective preparation for Solvency II:

  • system of governance, including risk management;
  • forward looking assessment of the undertaking's own risk (based on the Own Risk and Solvency Assessment (ORSA) principles);
  • submission of information to NCAs; and

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