FSA fears 'tick-box' approach to risk management as insurers focus on Solvency II capital requirements
Companies will not receive any more guidance from FSA on Orsa development
Insurers are placing too much emphasis on Solvency II's capital requirements at the expense of the regime's risk management principles, the UK Financial Services Authority has warned.
Kathryn Morgan, a manager in the prudential insurance policy team at the FSA, based in London, said she was concerned that companies' approach to implementing Solvency II was too linear.
"I worry people are implementing [Solvency II's three] pillars in order and that the implementation of Pillar 2 will be too 'tick
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