Archive for February 2017

(1) Johannes Gutenberg University, Mainz, Germany   10.1 Introduction 10.2 The Legal Bases of Compliance Under the Insurance Supervisory Regime 10.2.1 The Relationship of Compliance Under the Insurance Supervisory Regime to Compliance Under General Company Law 10.2.2 The Solvency II Directive 10.2.3 The Draft of the Solvency II Implementing Regulation . . . Read more

(1) Johannes Gutenberg University, Mainz, Germany   1.1 Introduction 1.2 The Typology of Harmonization Methods 1.3 The European Law Sources for Harmonization of the Insurance Supervisory Regime 1.3.1 The Solvency II Framework Directive 1.3.2 The Implementing Regulations for the Solvency II Framework Directive 1.3.3 The EIOPA Regulation 1.3.4 Interim Result . . . Read more

(1) Johannes Gutenberg University, Mainz, Germany   3.1 Introduction 3.2 Consumer Protection Provisions of the New Insurance Supervisory Regime 3.2.1 The EIOPA Regulation 3.2.2 The Solvency II Directive 3.2.3 The Draft Regulation on Key Information Documents and the Draft Directive on Insurance Mediation 3.2.4 The Second and Third Regulatory Levels . . . Read more

(1) Johannes Gutenberg University, Mainz, Germany   12.1 Introduction 12.2 The Obligations to Notify Based on Formal Grounds 12.2.1 The Term “Obligations to Notify Based on Formal Grounds” 12.2.2 Obligations to Notify Based on Formal Organizational Grounds 12.2.3 Reporting Duties Related to Tariffs and General Policy Conditions 12.3 The Disclosure . . . Read more

(1) Johannes Gutenberg University, Mainz, Germany   7.1 Introduction 7.2 The Term “Key Function” 7.2.1 The Key Functions 7.2.2 Terminological Dual-Tracking and the Irrelevance of the Difference Between “Key Function” and “Key Task” 7.2.3 The Term “Key Functions”: Exhaustive or Open? 7.3 The Key Function Holders and Their Subordinate Staff . . . Read more

(1) Johannes Gutenberg University, Mainz, Germany   4.1 Introduction 4.2 The Solvency System Under Supervisory Law 4.2.1 The Economic Balance Sheet (Solvency Statement) 4.2.2 Own Funds Under Supervisory Law 4.2.3 Capital Requirements Under Supervisory Law 4.2.4 The Supervisory Review Process 4.3 Complexity, Volatility and Procyclicality of the Solvency Requirements: Implications . . . Read more

(1) Johannes Gutenberg University, Mainz, Germany   5.1 Introduction 5.2 Subject-Matter and Objective of the ORSA 5.3 The Solvency II Legal Principles Applicable to the ORSA 5.4 The ORSA and the Risk Management System 5.4.1 The European Law Framework 5.4.2 Present Law: The Relationship of the ORSA to Sec. 64 . . . Read more

(1) Johannes Gutenberg University, Mainz, Germany   11.1 Introduction 11.2 Combining the Legal Department and the Compliance Function as a Legal Problem 11.3 Combining the Legal Department and the Compliance Function in Light of Their Respective Responsibilities 11.3.1 Crossover in Tasks 11.3.2 Advisement of Insurance Undertakings’ Staff Members as an . . . Read more

(1) Johannes Gutenberg University, Mainz, Germany   9.1 Introduction 9.1.1 The Normative Rules 9.2 ‘Senior Management’ in the Solvency II System 9.3 Summary Abstract This chapter treats the subject of senior management in insurance undertakings. This subject comes into view because this category appears in the nomenclature of the Solvency . . . Read more