The European Insurance and Occupational Pensions Authority (EIOPA) has published a Supervisory Statement on the supervision of run-off undertakings. The statement is addressed to the competent authorities with responsibility for insurance supervision in the European Union. EIOPA acknowledges the potential benefit of run-off for the insurance market, enabling more efficient use of capital and orderly … Continue Reading
The adoption of a draft law amending criminal law provisions protecting insurance related information will finally enable life insurers to make wider use of outsourcing by removing disclosure to service providers from the scope of Sec. 203 German Criminal Code (StGB) under certain conditions. In spite of some uncertainties, this is a major breakthrough and … Continue Reading
