Law360, London (May 14, 2020, 3:32 PM BST) -- The European Commission slapped Poland with a warning on Thursday for failing to properly implement the bloc's four-year-old rules on capital requirements for insurers.
The commission has given the country four months to submit a "satisfactory response" to its concerns over the Solvency II Directive or it could refer the matter to the European Court of Justice.
The Solvency regime, implemented in 2016, sets minimum requirements for the capital reserves that insurers must retain to allow them to withstand financial shocks and still be able to pay out on claims.
"The Solvency II rules are crucial for the protection of insurance...
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