Solvency
II is approaching and with still four months to go a little work has
been done by the insurers behind the scenes to implement the new rules
in practice. Am:
put a few questions to Thijs van Woerden (43), division director
Supervision of Insurers at DNB, on the progress in this sometimes
difficult process..
Small insurers act against the new rules, they find them too heavy. They get leniency?
"They can absolutely count on a sympathetic ear. Proportionality is the buzz word. There are two ways to look at that. First, in Solvency II itself is already proportionality, ie for a small insurance company, there are far fewer reports. Secondly, we said let's see if we can make some adjustments to the framework to make it easier and simpler for small insurers that do not fall under Solvency II. That's become Solvency II Basic.
The discussion we have now is: does this go far enough? There will fix a few things that can be adjusted. But there is also a message which I want to give it. Yes, there is proportionality, but not zero. The small insurers should participate in the new regulations. It's good to talk to us, we listen and be responsive in many ways.
Read more: Thijs van Woerden (DNB): ‘Solvency I kwam letterlijk uit de jaren ’70’ | amweb
Small insurers act against the new rules, they find them too heavy. They get leniency?
"They can absolutely count on a sympathetic ear. Proportionality is the buzz word. There are two ways to look at that. First, in Solvency II itself is already proportionality, ie for a small insurance company, there are far fewer reports. Secondly, we said let's see if we can make some adjustments to the framework to make it easier and simpler for small insurers that do not fall under Solvency II. That's become Solvency II Basic.
The discussion we have now is: does this go far enough? There will fix a few things that can be adjusted. But there is also a message which I want to give it. Yes, there is proportionality, but not zero. The small insurers should participate in the new regulations. It's good to talk to us, we listen and be responsive in many ways.
Read more: Thijs van Woerden (DNB): ‘Solvency I kwam letterlijk uit de jaren ’70’ | amweb
