Op risk may be in Pillar II for EU insurers
BRUSSELS -- Operational risk may not have a separate, defined capital charge within Pillar I in the EU Commission’s Solvency II proposals for the regulation of the insurance industry in Europe.
The EU Commission released a document in mid-September entitled Solvency II -- Reflections on the general outline of a framework directive and mandates for further technical work. The document is an agenda paper for the upcoming meeting of the IC Solvency Subcommittee on October 23. It outlines the
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