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Learn From National Regulators, EU Insurers Tell Watchdog

Law360, London (January 11, 2019, 4:17 PM GMT) -- Insurers urged Europe's top industry regulator on Friday to get national watchdogs with “real day-to-day experience" involved in its proposed new executive board, ahead of a proposed sweeping shake-up of the agency's structure.

Insurance Europe, a lobby group, warned that the quality of governance of businesses carried out by the European Insurance and Occupational Pensions Authority would probably not improve unless it brought national supervisors into its board's decision-making and oversight. The comment comes as European lawmakers backed plans to strengthen the European Supervisory Authorities, which include EIOPA, on Thursday.

The group, which represents EU insurers and reinsurers, said that EIOPA’s...

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