Insurers Warn EU Regulator Over Solvency II Changes
Law360, London (October 29, 2019, 12:48 PM GMT) -- The European insurance industry warned on Tuesday that proposed changes that would simplify reporting requirements under the Solvency II regime could in fact increase the regulatory burden on companies.
Trade body Insurance Europe was responding to a consultation released by the European Insurance and Occupational Pensions Authority to revise quarterly reporting obligations under the Solvency II Directive for insurers. The Europe-wide regulatory regime requires insurers to report to watchdogs on the state of their capital reserves as well as potential risks to the business.
EIOPA proposes consolidating some reporting documents, so that insurers do not submit the same information more than once in...
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