- Swiss Re latest sigma study-"Global economic and insurance outlook 2020" says global economic growth will remain strong over the next two years, although momentum has peaked
- Lloyd's reviews potential mixed impact of Internet of Things(IOT) in new research in collaboration with University College of London(UCL)
- PPL usage beats quarter target
- FRISS Insurance Fraud Report 2018 indicates insurers prioritize fraud detection and prevention but there is room for improvement
- ABI reports UK motor insurance payouts up 4% averaging £23m per day in first nine months
- CII launches ambitious programme to bolster its outreach to young people across the UK, with over 1,000 schools to be targeted nationally in the new Discover Risk programme.
- RMS estimates that the insured loss for the Camp and Woolsey wildfires in California will be between $9 and $13bn expired
- Polaris announces Banga as new Managing Director expired
- Willis Towers Watson strengthens Insurance Consulting and Technology business with two senior hires expired
- Assurant appoints CFO, Europe expired
- Folgate returns to active underwriting expired
- SOBC DARAG Holdings acquires the entire share capital of SOBC Services expired
16th May 2018
Insurance Europe responds to EIOPA consultation on corrections and amendments to the implementing technical standards(ITS) for Solvency II
Insurance Europe has responded to the European Insurance and Occupational Pensions Authority’s(EIOPA) consultation on corrections and amendments to the implementing technical standards(ITS) for Solvency II reporting and disclosure, which included more than 300 new validations.
Insurance Europe said it would be difficult to implement these new validations in time for Q4 reporting, particularly for complex groups. Therefore, Insurance Europe proposes that the new validations should not be obligatory for the first year of application, and only become obligatory in the second year.
In addition, Insurance Europe welcomed the fact that EIOPA included some Q&As in the ITS. However, because EIOPA did not include all relevant Q&As in the ITS, Insurance Europe called for this to be addressed.
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Solvency II Trends(1,508 mentions in Insurance Newslink)