Watchdog Probes Insurers About Reporting Under Solvency II
Law360, London (December 20, 2018, 6:50 PM GMT) -- Europe's top insurance watchdog on Thursday said it is asking the bloc's insurers to give feedback on the reporting requirements under the European Union's sweeping Solvency II capital regime to help the regulator decide whether those rules are "fit for purpose" and suitable for smaller firms.
The European Insurance and Occupational Authority said it will review the reporting and disclosure requirements under Solvency II. The capital requirements have been in force across the EU since 2016, requiring insurers to hold capital reserves against financial stress. But many companies complain that it has made it harder for them to do business and...
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