Insurance Boards Must Step Up Internal Checks, EIOPA Says

Law360, London (June 19, 2017, 1:00 PM BST) -- Board members at insurance firms must do more to scrutinize companies’ internal risk and solvency assessments and use these checks to guide their own decision-making, Europe’s top insurance regulator said on Monday.

The European Insurance and Occupational Pensions Authority said most insurers and reinsurers are making good progress with the checks, which are intended to protect consumers and ensure broader financial stability in the 28-member bloc.

But the regulator, based in the German city of Frankfurt, called on boards to do more to enforce the regime....
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